HOW YOU CAN HELP
The Arizona Charitable Tax Credit Program
ARIZONA CHARITABLE TAX CREDIT PROGRAM
Did you know? In addition to the Arizona tax credit, there’s also a new federal 2020 tax deduction…
The federal stimulus CARES Act, signed into law on March 27th, gave American taxpayers an incentive to help those in need during the pandemic crisis: a charitable income tax deduction of up to $300 per taxpayer ($600 for a married couple) in an above-the-line deduction for charitable gifts made in 2020.
In 2020, non-itemizers can claim up to $300 in an above-the-line income tax deduction for monetary donations made this year. For those who take the standard deduction on 2020 returns filed in 2021, if you gave up to $300 to charities, you can claim a $300 tax break in addition to the standard deduction ($12,400 for individuals and $24,800 for married couples filing jointly).
If you itemize deductions, there are new charitable deduction limits. The CARES Act increases the existing cap on charitable cash contributions for those who itemize, raising it from 60% of adjusted gross income to 100% in 2020.
This new federal income tax deduction can be taken in addition to the Arizona Charitable Organization Tax Credit. Donors can give up to $400 for individuals (and up to $800 for couples filing jointly) and receive a dollar for dollar credit on your Arizona tax return. You can also give an additional $300 and take the new deduction on your federal taxes.
Make your donation NOW and claim your tax credit with the State! For more information about the tax credit and filing instructions, please visit the Arizona Department of Revenue. Always consult with a qualified, licensed professional regarding legal or tax-related issues.
Please contact your tax advisor to learn more.
You still have time to save on your 2020 taxes!
Make your gift today to receive a dollar-for-dollar credit on your AZ taxes.
NOTE: Beginning in 2018, it is necessary to provide the State of Arizona CASS’ QCO code. Please use QCO code 20328 on Arizona form 321.
For questions about your contribution to CASS and the Arizona Charitable Tax Credit, please contact the development department at (602) 417-9800 or email@example.com.
Central Arizona Shelter Services
230 S. 12th Avenue
Phoenix AZ 85007
PO Box 18250
Phoenix AZ 85005
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