Decide to direct your PA tax dollars to TCA and receive a tax credit for 90% of your donation on next year's taxes. (January- August)
Look at PA-40 Line 12 for your PA tax liability and decide how much to donate. You may donate any amount between $500 and your total tax liability. (January- April)
Meet with the TCA EITC (Educational Improvement Tax Credit) team to complete the Intent to Donate form. Call (724) 947-8722 to make an appointment. (January- August)
Wait for SPE (Special Purpose Entity) clearance notification from TCA. Meet with the TCA EITC team to complete the Joinder form and write a check payable to Penngift for your donation amount. (Late September- December) *Please note: PA will continue to withhold taxes from your checks.
TCA files your Joinder and check with Penngift. Penngift sends a check to TCA. (October- December)
Receive a K-1 form from Penngift that lists your tax credit. (January- February)
When you file your taxes, you'll need the K-1 form and a PA-OC form (Other Credits). Receive a tax credit for 90% of your donation. (January- April)
Receive your tax refund and start the process all over again! Plan next year!
