Pension Protection Act of 2006

On August 17, 2006 the Pension Protection Act of 2006 became law. This new law allows people who are age 70½ and older to make distributions from individual retirement accounts directly to non-profit organizations like WVXU free from federal tax.

There are only two other limitations – gifts are limited to $100,000 per year per individual and this provision is only valid until December 31, 2007. This is a rare opportunity – to contribute without having to claim the gift as federal taxable income.

Although the time frame is limited, it is also fortuitous. WVXU is at a turning point. Only continued support from the community will allow WVXU to remain a full-time News and Information station.

For more information about making a gift to WVXU, please contact Len Sternberg at (513) 419-7116 or lsternberg@wvxu.org. We also encourage you to consult with your tax advisor before making a gift.

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