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New Tax & Charitable OrganizatioDonation Deadlines Featured

Your new deadline to file taxes and make charitable donations is May 17.

 

Big Idea

  • The IRS has moved the deadline for 2020 federal individual income tax returns to May 17
  • The deadline only includes individual returns
  • Qualifying Charitable Organizations and Qualifying Foster Care Charitable Organizations can also receive donations up to May 17
  • Read more...

 

2021 Tax Due Date Update 

ADOR Extends Income Tax Deadline to May 17, 2021

The State of Arizona has announced it has moved the deadline for filing and paying state individual income taxes from April 15 to May 17, 2021. Additionally, the deadline for first quarter tax year 2021 individual estimated tax payments remains April 15, 2021.

This follows the Treasury Secretary announcement that the Internal Revenue Service (IRS) has moved the deadline for 2020 federal individual income tax returns to May 17, 2021. 

The extended deadline only includes individual returns.

The new deadline means taxpayers who file and pay after the previous April 15 deadline will not be assessed late filing or late payment penalties. 

Taxpayers anticipating that they will need more time beyond the new May 17 deadline to file state individual income taxes should consider filing for an extension by submitting Arizona Form 204 by May 17. Taxpayers do not need to submit Arizona Form 204 if they have already received a federal extension from the IRS. 

Additionally, the Arizona Department of Revenue advises taxpayers they now have until May 17 to contribute to certified qualifying charitable organizations, qualifying foster care charitable organizations, school tuition organizations, and public schools to claim the tax credits on their 2020 individual income tax return.

Individuals should ensure to file accurate tax returns. Here are some key tips:

  • E-file. Electronic filing is more accurate, secure and faster.
  • Ensure all the necessary lines and forms are filled out correctly. Avoid math errors or miscalculations.
  • Don't misspell names or use two different names. 
  • Make sure key information like tax ID number, Social Security number, routing number or account number are correct in all the appropriate boxes.
  • If filing a paper return, use black ink and print on white paper.
  • Do not staple or attach anything to paper returns.
  • Don't forget to sign and date the return.

The Arizona Department of Revenue encourages taxpayers to file electronically, as e-filing is more efficient, more secure and refunds are processed faster than refunds from paper tax returns.

Check out the Arizona Department of Revenue’s FAQs website at https://azdor.gov/news-notices/faq-during-tax-season for information.



Process to Claim Donation to Charities for 2020 Tax Year

The Arizona Department of Revenue (ADOR) advises taxpayers they have until May 17 to make donations to qualifying charitable organizations to claim the tax credits on their 2020 individual income tax return.

Qualifying Charitable Organizations and Qualifying Foster Care Charitable Organizations

Arizona provides two separate tax credits for individuals who make contributions to charitable organizations: one for donations to Qualifying Charitable Organizations (QCO) and the second for donations to Qualifying Foster Care Charitable Organizations (QFCO).

ADOR assigns a five (5) digit code to identify each QCO (claimed on Form 321) and QFCO (claimed on Form 352) for Arizona tax credit purposes.  The credit form is included with the Arizona income tax return when filed. Taxpayers must use each certified charity’s assigned code to claim the tax credit for contributions to QCOs or QFCOs.

The department provides the lists of certified charities and assigned code for each organization. A taxpayer can only claim a tax credit for donations made to certified charities.

The lists of the certified charities on azdor.gov displays the certified charities for that year.

  • For donations made in 2020 - use the 2020 list.
  • For donations made from January 1, 2021 to May 17, 2021 - use the 2021 list.

There are separate lists for QCOs and QFCOs, and they are claimed on different forms; QCO (claimed on Form 321) and QFCO (claimed on Form 352). Taxpayers should verify they are using the correct list as they are separated into two columns.

If a taxpayer donates to an organization between January 1 and May 17, 2021, the organization must be on the 2021 list to claim the 2020 tax return.

QCOs are currently going through the recertification process for 2021 contributions, and not all 2020 certified QCOs are certified for 2021. ADOR is actively working with organizations to update their information and certify them as soon as possible. During filing season, ADOR publishes a revised list at the end of each week. Be sure your software is up-to-date before filing to ensure you have the most updated information.

For more information on charitable tax credits in the state, what forms to use, and to confirm certified charities, see https://azdor.gov/tax-credits/contributions-qcos-and-qfcos.

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Last modified on Wednesday, 07 April 2021 06:38
Published in Arizona News
Lynne LaMaster

Lynne LaMaster is the Editor and Publisher of CopperState News. In her past life, she was the founder of a successful local news media publication in the Prescott area. She started CopperState News with the idea that local news deserves a statewide platform.

Besides prowling around for community news - especially good news! - Lynne and her husband Lewis enjoy their eight children and six grandchildren (although more are always welcome!). Lynne is connected non-stop to her camera and loves creating unique gifts with her Cricut!

One of her favorite sayings is, "It's not about me!"

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