3 FAQs Regarding the Arizona Foster Care Tax Credit
Did you know that when you make a charitable donation to RISE Services, Inc. in Arizona, not only are you supporting families and children in need of foster care services, but you are also in a position to take advantage of the Arizona Foster Care Tax Credit? This valuable tax credit is simple, easy, and free. If you’re not sure what this is or how you can qualify, read over these three frequently asked questions to learn more.
1. What Is It & How Do I Qualify?The Arizona Foster Care Tax Credit can reduce your state income tax bill when you donate to a qualifying foster care organization like RISE Arizona. It reduces your tax obligation dollar-for-dollar up to $500 for individuals and $1,000 for couples. In order to qualify, you must donate by check or online by April 15, 2022, and you must be an Arizona resident.
2. How Do I Claim This Credit?
When you’re filing your state income tax return and you have made a donation to RISE Arizona, there are two steps you need to take to make sure you receive this valuable tax credit. First, you need to file tax forms 352 and 301 along with your state tax return. Second, you need to enter RISE’s Qualifying Foster Care Charitable Organization (QFCO) code, which is 11060, on form 352.
3. How Do I Make a Donation?
The most important step in qualifying for the Arizona Foster Care Tax Credit is to make a donation to RISE Arizona before April 15, 2022. We make it easy for you to donate. Simply click Donate Now and then enter your gift amount. You can donate securely via PayPal or with a credit card.
Make a Difference Today
Help children learn to soar with the support of a caring adult when you make a charitable donation to RISE Arizona Family Services today. Learn more about the Arizona Foster Care Tax Credit or feel free to contact us with any questions. If you’re interested in how RISE supports individuals’ and families’ needs, review our website and discover more about our many support services such as our Opportunity Centers, Family Support programs, Senior In-Home Care services, and Early Intervention children’s services.