Don't Mess With Taxes

The end of 2011 is upon us. So it's time for some December traditions: expiring tax breaks and frustration with Congress.

Both of these issues were topics last week at my other tax blog.

The opportunity for older traditional IRA owners to roll those account distributions directly to a charity is a popular, albeit limited, tax break.

But this IRA-to-charity rollover option expires on Dec. 31 and is not likely to be renewed. So if you can use it, act soon.

The way Congress has been dealing with another expiring tax break, the payroll tax rate reduction, contributed to the anger many feel toward their federal lawmakers.

A recent Pew Research Center poll found that could be bad news for lawmakers seeking re-election in 2012. Two-thirds of potential voters say that most members of Congress should be voted out of office.

You can check out new posts each Tuesday and Thursday at my Bankrate Taxes Blog. And if you happen to miss them there, you can find a wrap-up here each Saturday.

You also might find these items of interest:

• Year-end retirement moves, December 2011
• Handy retirement plan rollover chart
• Congress facing angry public as it works on payroll tax cut extension