How Your Gift Benefits Foster Children and You
Are you or someone you know looking for a way to give back to local Arizona families in need? RISE Arizona Family Services LLC can help point you in the right direction. If you are a resident of Arizona, one of the easiest ways to make a difference in the lives of children is through the Arizona Foster Care Tax Credit. This is not a tax deduction, but an actual credit. Currently, married couples can reduce what they owe in state taxes by $1,000, while single filers are eligible for a $500 credit*. You could be the difference in a child in the foster system’s life by making a meaningful contribution today.
You Can Change the Life of a Child in Foster Care
What may be a small sacrifice for you, will be an impactful gift in the life of a child in Arizona’s foster care system to help ensure these children succeed with the support of a caring adult.
FAQs for Arizona State Taxpayers
What is the Arizona Foster Care Tax Credit?
The Arizona Foster Care Tax Credit offers a dollar-for-dollar reduction of your state income tax obligation for donations to a Qualifying Foster Care Charitable Organization such as RISE Arizona Family Services LLC. The tax credit is up to $500 for individuals and up to $1,000 for couples filing jointly.
How do I qualify?
- You must be an Arizona resident.
- You must donate by check or online by April 15, 2021 to qualify for the 2020 Arizona Foster Care Tax Credit.
Can I give to RISE and still take advantage of other Arizona state income tax credits?
Yes. Tax credits for donations to schools and other charitable organizations are still available even after using the Arizona Foster Care Tax Credit. Check with your tax professional.
When can I take advantage of the tax credit?
You must donate by check or online by April 15, 2021 to qualify for the 2020 Arizona Foster Care Tax Credit.
How can I make a qualifying donation to RISE?
You can make a secure gift online (link to PayPal donation page) here by April 15, 2021 to claim your credit for the 2020 tax year. Donations by the tax filing deadline – typically April 15 – qualify for a tax credit for the previous tax year.
How do I claim my credit on my AZ tax return?
- Mail checks or donate online by April 15, 2021 for 2020 tax returns.
- File Arizona tax forms 352 and 301 with your state tax return.
- RISE’s Qualifying Foster Care Charitable Organization (QFCO) code is 11060. Place this code on form 352 when filing your Arizona tax return.
How can I find out more?
Visit the Arizona Department of Revenue website for more information about state income tax credits for charitable contributions in Arizona or call us at (480) 497-1889.
*Please consult with a tax advisor, visit the Arizona Department of Revenue website (https://azdor.gov/tax-credits/contributions-qcos-and-qfcos), or view the Credit for Contributions (linked to the PDF provided). Tax credits are available only to individuals who file taxes in Arizona. QFCO code: 11060. Tax ID#: 85-0844154