|
**DEADLINE FOR 2012 DONATIONS HAS PASSED**
**WATCH FOR INFORMATION ON OUR 2013 PROGRAM DURING LATE 2013**
----------------------------------------------------------------------
SUPPORT OUR SCHOOLS
MAKE A DONATION
The State of Arizona allows taxpayers to make monetary contributions to public and
private schools. Taxpayers who make a qualified contribution may receive a credit
on their state tax return for the donation amount.
Public Schools: To qualify for the credit you must make cash contributions or pay
fees to a public school for support of extra curricular activities or for character
recognition programs.
Private Schools: To qualify for the credit you must make cash contributions to a
tuition organization that provides scholarships or grants to qualified schools.
DON'T HAVE THE MONEY
Because you must make your qualified donation before the end of the year, Tempe
Schools Credit Union will loan you the money you need to make a donation to your
school of choice. You borrow the money - at 0% interest to make the donation. Your
tax credit loan is made at 0% interest, provided you pay back the loan before May
31 of the following tax year.
DONATION GUIDELINES
Individuals and heads of household on new accounts and existing accounts whom have
never received a tax credit loan from TSCU are limited to a maximum loan amount
of $400.00. This maximum loan amount may be distributed to both Public and Private
schools. Qualifications and restrictions apply.
Individuals and heads of household on Existing Accounts whom have received a TSCU
tax credit loan may qualify for like dollar amounts from previous 2 years (2010
and/or 2009). Qualifications and restrictions apply.
The school will provide a receipt to the donor that includes the school name(s),
school district number, taxpayer name, taxpayer Social Security number, amount(s)
paid, date(s) paid and a description of the activity for which the donation was
made.
GENERAL INFORMATION & RESOURCES
DEFAULT RATE Should maker fail to make the payment due under this note by the due
date, then the principal amount of this note shall earn interest at the annual percentage
rate of eighteen percent (18%) per year from the date of the loan until paid in
full.
TSCU recommends you consult with a tax advisor to determine how a Tax Credit may
benefit you. Note: Receiving a Tax Credit Loan does NOT guarantee a state income
tax refund. All Tax Credit monies borrowed MUST be paid in full regardless if you
receive a state refund.
For further information please contact the AZ Department of Revenue by phone (602)
255-3381 or on the web at
http://www.azdor.gov/ .
IMPORTANT DATES
- Watch this space for information on our 2013 program!
Resources: (require Adobe PDF reader)
|
