Your ICAN Donation Could Qualify You For a Tax Break!
Donations given to Arizona nonprofits, such as ICAN, by December 31, 2012 are eligible for a tax break under the Arizona Charitable Tax Credit, also known as the Working Poor Tax Credit. The tax credit reduces tax liability for couples up to $400, and individuals up to $200. The credit is only available to donations given to charitable organizations labeled as 501(c)(3) status with the IRS.
East Valley nonprofit youth program, ICAN, is one of the qualifying nonprofits and greatly values the credit that brings in substantial financial support for their free youth programs. The Working Poor Tax Credit is important for nonprofits like ICAN, because the increase in donations helps support programs for the following year, while donors receive a tax break.
To learn more about the Arizona Working Poor Tax Credit, visit http://www.azdor.gov/TaxCredits/WorkingPoorTaxCredit.aspx.