Celebrating the new Legacy IRA and a boost for QCDs

The much-anticipated, $1.65 trillion-dollar omnibus spending bill known as the Consolidated Appropriations Act of 2023 (CAA) was signed into law on Dec. 29, 2022. At more than 4,000 pages, the act includes a wide range of provisions that impact multiple sectors.  

Of particular interest to attorneys, accountants, and wealth managers who advise philanthropists are the provisions often referred to as “SECURE 2.0” that include enhancements to the Qualified Charitable Distribution (QCD).

Here are three key provisions affecting philanthropists in the new law:

 Here’s what has not changed: