Tuesday, September 19, 2023

St Mary’s Food Bank Arizona Tax Credit

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St Marys Food Bank Alliance Flagstaff

St. Mary’s Food Bank Arizona Charitable Tax Credit 2021

Address: 5200 E. Cortland Avenue, Suite A15, Flagstaff, AZ 86004

Hours: Mon-Fri 8:00 am-4:00 p.m.

Phone Number: 928-779-7066

Languages: English

Served Zips: 86001, 86002, 86003, 86004, 86038, 86045, 86044, 86035, 86039, 86030, 86022, 86046, 86025, 86042, 86043, 86034, 86047, 86556, 86503, 86507, 86538, 86514, 86505, 86510, 86502, 86507, 86503, 86556, 86033, 86336, 86442, 86429, 86406, 86444, 86438, 86431, 86404, 86413, 86426, 86441, 86021, 86440, 86401, 86432, 86046, 86434

Eligibility: Administrative Offices Only, Food Resources information available at site.

Additional Information: The Flagstaff office is administrative only. We have resources available to anyone who stops by our Flagstaff offices which direct them to where they may go in Flagstaff to receive food or assistance.

Des Staff Volunteers At St Marys Food Bank To Distribute Holiday Food

St. Marys Food Bank Alliance began its 26th annual holiday food distribution this week to provide Thanksgiving meals to thousands of families in need. The Department of Economic Security Division of Aging and Adult Services employees volunteered this week to load carts, place food in vehicles, direct traffic, break down boxes and hand out refreshments to fellow volunteers. Individuals will receive meat, produce, non-perishable items and bread.

Were really lucky that we have the opportunity year after year to help our community partner with this event, said Gloria Garcia-Hernandez, Coordinated Hunger Relief Program Manager. In addition to supporting our partner and helping those we serve this is an excellent team building event.

On Monday alone, volunteers served 4,858 families among the Knight and Surprise locations. This is about 200 more than last year.

The DAAS Coordinated Hunger Relief Program provides funding to the three Regional Food BanksSt. Marys Food Bank, Community Food Bank of Southern Arizona and United Food Bankto distribute Emergency Food Assistance Program food boxes to individuals and families experiencing hunger. The Commodity Senior Food Program is a similar program, serving seniors 60 years of age or older with a monthly food package. To be eligible for both programs, one must self-declare that they are under a certain poverty level.

For more information on food assistance, visit the DES website.

Arizona State Tax Credits Vs Federal Tax Credits And Deductions

While the state of Arizona permits both tax credits and tax deductions for charitable gifts, IRS rules stipulate that charitable gifts both cash and property must be claimed as tax deductions, rather than credits. In fact, page 3 of IRS Publication 526 spells this out plainly, Generally, you can deduct contributions of money or property you make to, or for the use of, a qualified organization. The IRS only allows deductions for gifts made to qualified tax-exempt organizations, such as 501 entities and other eligible organizations IRS Publication 526 covers this in detail.

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List Of Qualifying Charitable Organizations And Qualified Foster Care Charitable Organizations

Each year, the Arizona Department of Revenue updates its list of the qualifying charities that meet the Departments certification requirements. Greenberg notes that its important for Arizona taxpayers to review this list, stating, The Department of Revenue recommends taxpayers considering a tax credit donation confirm the organization has been certified by the agency as a qualifying charitable organization before making the donation if it is for tax purposes.

Phoenix Childrens Hospital is a 501 organization that meets the state of Arizonas QCO certification requirements, qualifying the Hospital to receive charitable contributions under the Arizona Charitable Tax Credit.

Arizona And The Irs Allow Charitable Contributions Through Payroll Withholding

Arizona Charitable Tax Credit List 2021

As described in Chapter 2 above, the state of Arizona allows charitable contributions through payroll withholding, and IRS rules also permit this practice for federal tax purposes. According to IRS Publication 1771, donors may substantiate payroll deductions through a pledge card from the charitable organization, along with one of the following: a pay stub from an employer, a W-2 form, or another employer-provided document that details the amount withheld and donated to a charitable organization.

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St Marys Food Bank Alliance

  • EIN: 23-7353532
  • Food Banks, Food Pantries
  • Nonprofit Tax Code Designation: 501 Defined as: Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition , or the prevention of cruelty to children or animals.
  • Donations to this organization are tax deductible.
  • More Resources:

Read Also: Community Food Bank Of Southern Az

At St Marys Food Bank We Are Using The Arizona Charitable Tax Credit To End Hunger In Az

St. Marys Food Banks Kids Cafe® has been providing more than 5,000 meals daily to Children throughout the Valley. With your tax deductible donation, St. Marys Food Bank Child Nutrition Programs are expanding to provide food assistance to hungry children in Arizona. Your charitable donation to St. Marys Food Bank provides food to Arizona children and families in need. Donate up to $800 to St. Marys Food Bank and get it back with the Arizona Charitable Tax Credit, and get it back in your tax refund.

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Deadlines And Key Dates For The Arizona Charitable Tax Credit

Contrary to popular belief, Arizona taxpayers do not need to make their charitable contributions to QCOs and QFCOs before December 31 of a given year in order to be eligible for state tax credits for that tax year. The state of Arizona allows taxpayers to claim tax credits for gifts into April of the current year for the prior tax year. In 2023, the deadline for making a charitable contribution for the 2022 tax year under the AZ Charitable Tax Credit is . The standard date is April 15, but that date falls on a weekend in 2023. Thus, the date extends to the following Monday.

The state of Arizona, however, does require donations from different calendar years to be listed separately on Arizona Form 321 and Arizona Form 352. For the 2021 tax year, cash contributions that were made between January 1, 2021, and December 31, 2021, are required to be listed on Part 1, section A of both Arizona Form 321 and Arizona Form 352 . Cash contributions that were made between January 1, 2023, and April 17, 2023, are required to be listed on Part 1, section B of both Arizona Form 321 and Arizona Form 352 .

The 2023 Definitive Guide To The Arizona Charitable Tax Credit

2022 SPR SMFB TAX CRED 30

Everything you need to know to take advantage of the Arizona Charitable Tax Credit, updated for the 2022 tax year

Youve probably heard of the Arizona Charitable Tax Credit, but dont know all the details about it. Thats okay! Youre not alone. Most taxpayers do not know how to take full advantage of Arizonas state tax credits, including the ability to combine multiple tax credits and carry forward the tax benefits over several years.

The state of Arizona provides a variety of individual tax credits, including theAZ Charitable Tax Credit and thePublic School Tax Credit. These tax credits allow taxpayers to make charitable contributions and receive dollar-for-dollar reductions in their Arizona state tax liabilities.

Fortunately, here is the ultimate guide to the Arizona Charitable Tax Credit for the 2022 tax year a true deep dive into the details. Taxpayers will find everything they need to know in order to take advantage of this and other Arizona state tax credits. Read on to learn more, and then consult with your personal tax advisor for advice on your specific tax situation.

No problem. Download a copy now so you can read up when its convenient for you.

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Eligible Charity Organizations For The Arizona Charitable Tax Credit

The Arizona Charitable Tax Credit is meant to provide taxpayers with a mechanism for supporting charities that offer services to low-income residents with chronic illnesses or disabilities. For that reason, Phoenix Childrens is certified as a Qualifying Charitable Organization. Phoenix Childrens specializes in providing life-saving and life-changing medical services to critically ill and injured children, and is ranked in all 10 specialties in U.S. News and World Reports list of Best Childrens Hospitals in 2021-2022. Furthermore, 56% of patient families at Phoenix Childrens receive health care coverage via the Arizona Health Care Cost Containment System . Phoenix Childrens also takes health care services directly to the most vulnerable in our community through the Homeless Youth Outreach program.

Contact Information Provided By Arizona Form 321 And Arizona Form 352

The instructions for both Arizona Form 321 and Arizona Form 352 provide two phone numbers for inquiries about the credits for contributions to Qualifying Charitable Organizations and Qualifying Foster Care Charitable Organizations.

  • From within the Phoenix metro area, call: 602-255-3381
  • From area codes 520 and 928, call toll-free: 800-352-4090

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The Working Poor Tax Credit

History lesson: the tax credit for gifts to Qualifying Charitable Organizations dates back to 1998, and used to be called the Working Poor Tax Credit. In the tax year 2012, this credit was expanded to include certified charitable organizations that provide immediate basic needs to Arizona residents who receive temporary assistance under benefits for needy families, are low income Arizonans or are children who have a chronic illness or physical disability, said Ed Greenberg, a spokesman for the Arizona Department of Revenue. Now, this credit is part of the Arizona Charitable Tax Credit umbrella term that is used to describe the tax credits for gifts to both QCOs and QFCOs.

How The Arizona Charitable Tax Credit Shifts Control To Taxpayers

St Mary

The Arizona Charitable Tax Credit gives taxpayers more choice in how their tax dollars are allocated. Consider the example of a single taxpayer who makes a $400 donation to an eligible Qualifying Charitable Organization, and a second $500 gift to a Qualifying Foster Care Charitable Organization. The taxpayer then claims the maximum allowable credit for these contributions , reducing their state tax liability, dollar-for-dollar.

This taxpayer has effectively redirected $900 of her State tax payment from the States general fund to the two charitable organizations of her choice. This is the underlying benefit of the Arizona Charitable Tax Credit it shifts control away from the State and gives individuals the power to determine which deserving organizations will receive tax revenue. Taxpayers themselves can direct tax dollars to charities whose services they believe provide the most value to their local communities.

This program grows in popularity each yearand for good reason. The impact on the community continues to increase between 2011 and 2016, twice the number of taxpayers in Arizona claimed the credit, awarding more than $34 million to qualifying charities.

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Relevant Contact Information For The Arizona Charitable Tax Credit

If youve made it this far and still have questions, then youre probably wondering who you can call for help. Please remember: call a tax advisor first, to discuss your specific situation. If you need recommendations for a good tax advisor, then contact us here at Phoenix Childrens. We will be happy to point you in the direction of a tax consultant who is well-versed on the details of the Arizona Charitable Tax Credit.

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The 2022 Definitive Guide To The Arizona Charitable Tax Credit

Everything you need to know to take advantage of the Arizona Charitable Tax Credit, updated for the 2021 tax year

The state of Arizona provides a variety of individual tax credits, including the Arizona Charitable Tax Credit and the Public School Tax Credit. These tax credits allow taxpayers to make charitable contributions and receive dollar-for-dollar reductions in their Arizona state tax liabilities.

Youve probably heard of the AZ Charitable Tax Credit, but dont know all the details about it. Thats okay! Most taxpayers do not know how to take full advantage of Arizonas state tax credits, including the ability to combine multiple tax credits and carry forward the tax benefits over several years. Youre not alone.

Fortunately, this is the ultimate guide to the Arizona Charitable Tax Credit in 2022 a true deep dive into the details. Taxpayers will find everything they need to know in order to take advantage of this and other Arizona state tax credits. Read on to learn more, and then consult with your tax advisor for advice on your specific tax situation.

No problem. Download a copy now so you can read up when its convenient for you.

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St Mary’s Food Bank Is A 2022 Qualifying Charitable Organization For The Arizona Charitable Tax Credit

St. Marys Food Bank is a Qualifying Charitable Organization and equally important is certified on the Department of Revenues website for Donations made to Qualifying Charitable Organizations. Your Arizona Charitable Tax Credit Donation to St. Marys Food Bank can be included in your Federal Tax Deductions in addition to the Arizona Charitable Tax Credit. St. Marys Food Bank Qualifying Organization Code is 20208. Please consult a qualified tax advisory for personal tax advice.

How Does The Arizona Charitable Tax Credit Work

Donate up to $800 Towards Your AZ Tax Credit – St. Mary’s Food Bank
  • Donate to a certified charitable organization , such as a 501 organization like
  • Maintain a receipt of your gift from the charity, in order to provide a copy with your tax
  • Complete the relevant tax form to claim one or more credits for your gift: Arizona Form321 for gifts to QCOs, and/or Arizona Form 352 for gifts to
  • Calculate your individual tax return , subtracting your tax credits from your tax liability, in order to reduce your Arizona state tax Include either Arizona Form 321 or Arizona Form 352, or both, with this return.
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    St Marys Food Bank Feeding Those In Need For Over 50 Years With Your Arizona Charitable Tax Credit Donation

    Your donation to St. Marys Food Bank will help Arizona children and families. Donate up to $800 and get it back with the Arizona Charitable Tax Credit.

    St. Marys Food Bank is a 501 organization certified on the Department of Revenues website as an approved charity on the Arizona Charitable Tax Credit List. When you make a gift to St. Marys Food Bank, your donation can be applied to the Arizona Charitable Tax Credit.

    If you would like to read more about the Arizona Charitable Tax Credit, read more below, and visit the Arizona Department of Revenue. Or consult a qualified tax advisory for personal tax advice.

    Donate Now and Get it Back on Your Arizona Tax Return.

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    How The Cares Act Impacted The Adjusted Gross Income Limit In 2020

    The Coronavirus Aid, Relief, and Economic Security Act was signed into law by President Trump on March 27, 2020, after being passed by both chambers of Congress. According to CICF, Pursuant to section 2205 of the CARES Act, for those who itemize, the CARES Act lifts the cap on the deductibility of individual annual giving from 60% of AGI to 100% for cash contributions As with current law, any cash gifts in excess of that limit can be carried forward for five years.

    Furthermore, as part of the CARES Act, cash donations of up to $300 made before December 31, 2020, are now deductible when people file their taxes in 2021 Under this new change, individual taxpayers can claim an above-the-line deduction of up to $300 for cash donations made to charity during 2020. This means the deduction lowers both adjusted gross income and taxable income translating into tax savings for those making donations to qualifying tax-exempt organizations, according to the IRS.

    While CARES Act was originally limited to the 2020 tax year, The Taxpayer Certainty and Disaster Tax Relief Act of 2020 extends some CARES Act provisions to incentivize individuals and businesses to give to charitable organizations during the 2021 tax year. According to the IRS, this law generally extends through the end of 2021 four temporary tax changes originally enacted by the Coronavirus Aid, Relief, and Economic Security Act.

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    Recent Federal Regulations On Charitable Contributions And State And Local Tax Credits

    In August 2018, the IRS and US Department of the Treasury proposed new regulations aimed toward limiting federal tax deductions for charitable gifts for which taxpayers also plan to claim state and local tax credits. Although complicated, the regulations were proposed in order to introduce two high-level changes to federal tax law. First, the regulations would require tax-deductible charitable contributions to be reduced by the amount of the state or local tax credit received or expected to be received on federal tax returns. Second, the regulations would place a $10,000 cap on state and local tax deductions on federal tax returns.

    These regulations sparked concern that local charities might see fewer charitable contributions, as state tax credits could become less appealing to donors.

    Arizona Standard Deduction Adjustments

    Census: Number of poor may be millions higher

    In 2019, the passage of Arizona HB 2757 introduced adjustments to Arizonas standard deduction amounts, aligning them with the federal standard deduction. For single and married taxpayers, Arizonas standard deduction was increased to $12,200, from $5,312 a 130% increase. For head of household filers, Arizonas standard deduction was raised to $18,350, from $10,336 . And for married taxpayers, Arizonas standard deduction was boosted to $24,400, from $10,336, a whopping 136% hike.

    To allay fears that increasing Arizonas standard deductions could curb charitable giving, Arizona HB 2757 also stipulates that the Arizona standard deduction can be increased by 25 percent of the charitable deductions the taxpayer would have claimed if they had itemized their deductions, according to Ed Greenberg of the Arizona Department of Revenue. This increase ensures that taxpayers who would have otherwise donated and claimed those gifts while itemizing their tax deductions will still be incentivized to make charitable contributions.

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