Why Should You Want a Tax Credit?

Tax credits are a direct reduction of the taxes you owe, unlike tax deductions, which only reduce your taxable income. A tax credit like this one can make a much more significant impact on your Kansas state taxes, allowing you to benefit directly from your generosity to IWC.

Download K-96

Kansas State Tax Implications

Kansas Tax Credit:

  • Donations to IWC are eligible for a 70% Kansas tax credit under the Kansas Pregnancy Compassion Act.
  • This credit is applied directly against your Kansas state income tax liability.
  • The credit is non-refundable but can be carried forward for up to five years if it exceeds your tax liability in the year the donation is made.

Deductibility:

  • If you itemize deductions on your federal tax return, you may also deduct the remaining charitable contribution portion on your Kansas state tax return.

Consult Your Tax Advisor

Please keep in mind that how this tax credit applies to you will depend on your unique tax situation, such as whether you itemize deductions, whether you have Kansas state tax liability, or whether you pay taxes in multiple states. We encourage you to consult with your tax advisor to ensure you understand how this credit can best work for you and your financial situation.

How It Works

Attached to this letter, you will find additional information on how tax credits work, as well as ways to donate to IWC. Also included is Form K-96, which needs to be completed and returned to us either by email (executiveassistant@insightlawrence.org ) or regular mail.

For monthly donors, please note that you will need to complete a Form K-96 for each quarter. This means a total of four forms for the 2024 tax year. Your form will reflect the donations made during each respective period.

Additionally, a donor statement will be mailed to you again for any donations made between now and December 31st. This will ensure you have the updated information you need to complete your tax forms.

Important Details for Completing Form K-96

  • The date of contribution will be the last date you donated, if you’ve contributed more than once this year.
  • The total donation amount should match the figure shown on the donor statement we’ve included with this letter.