As you may know, ICM Food & Clothing Bank is an Arizona Qualifying Charitable Organization. This means that the donations you make to ICM may be eligible for a dollar-for-dollar tax credit on your Arizona State income taxes (up to $400/individual or $800/couple filing jointly).
 
Last Thursday, the IRS issued proposed rules which may disallow a federal tax deduction for contributions you make to charities like ICM if you claim a credit for that contribution against your Arizona State income taxes. 
 
These rules will apply to contributions made after Monday, August 27, 2018, if they are adopted. Your ability to use the credit on your Arizona taxes would remain unchanged.
 
You may want to consult your tax advisor and consider making a contribution to ICM before the new rules take effect rather than at year-end. Even though the state tax credit is still in full effect for Arizona taxpayers, the IRS proposed rules could impact the credit you can claim for donations made after August 27 on your federal taxes. Please note that this message does not serve as tax advice.

Thank you for helping ICM provide basic needs to the most vulnerable in our community!