How do I give via tax Credit?
What is a tax credit?
A tax CREDIT is a dollar-for-dollar reduction in the amount of tax you owe the government. Using this program allows you to make a contribution to qualified police foundations without anything extra coming out of your pocket. It simply comes from what you already owe in state taxes.
For example, a $1,000 tax CREDIT lowers your state tax bill by $1,000, unlike a tax DEDUCTION, which only reduces the income amount on which tax is calculated.
This video will show you how to apply for the credit on GA Tax Center site and then I've outlined all the steps and what to expect below.
To understand how to apply for the Georgia Tax Credit, please watch the tutorial video above, which demonstrates the request process via the Georgia Tax Center site.
Step 1: Initiate your pre-approval by registering through the Georgia Tax Center online portal. Detailed guidance for this step is provided in the video or available in our downloadable PDF guide.
Step 2: Expect a formal approval notification from the Georgia Department of Revenue via mail approximately 30 days following your registration.
Step 3: Once authorized, you have a 60-day window to contribute to the Madison Police Foundation. When mailing your check, ensure you include the official state approval document and specify that the donation is for the Less Crime Act Tax Credit.
Remittances and paperwork should be addressed to:
Madison Police Foundation
PO Box 1, Madison Ga 30650
Step 4: Following receipt of your funds, the Madison Police Foundation will provide you with a form called the "IT-QLED-LEF1". When you file your annual tax returns, simply include form IT-QLED-TP2 along with the rest of your paperwork.
Step-by-Step
This video will show you how to apply for the credit on GA Tax Center site and then I've outlined all the steps and what to expect below.
To understand how to apply for the Georgia Tax Credit, please watch the tutorial video above, which demonstrates the request process via the Georgia Tax Center site.