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Jennifer Juhl, CPA
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NEWS AND INFORMATION

Arizona Tax Credits for 2025

There are a number of tax credits available in Arizona for the 2025 tax year. Some have new increased contributions limits. Please review your specific situation to make sure you are eligible.


Public/Charter School Credit:  The contribution limit in 2025 remains $200 Single, Head of Household and Married Filing Separate filers, and $400 for Married Filing Joint filers. Donate for extracurricular activities, character education programs, standardized testing fees and prep courses, career certification assessments or CPR training.  Here is a link to a list of public schools: https://azdor.gov/sites/default/files/2023-03/PUBLICATION_ADESchoolListing.pdf


School Tuition Organization (STO): There are two credits available. The original one, called the Credit for Contributions to Private School Tuition Organizations, has contribution limits of $769 for Single, Unmarried Head of Household and Married Filing Separate filers, and $1,535 for Married Filing Joint filers. The tax credit for contributions to private school tuition organizations is claimed by the individual taxpayer on Form 323.

The second one, called the Credit for Contributions to Certified School Tuition Organizations – Individual, is only available to individuals that first donated the maximum amount allowed (see above: $769 Single / $1,535 MFJ) for a credit under the original income tax credit (see prior paragraph). This second credit has a maximum contribution limit of $728 Single / $1,451 MFJ, and the STO must be on the state certified list. The tax credit for contributions to certified school tuition organizations-individuals is claimed by the individual taxpayer on Form 348.

Here is a link to a list of school tuition organizations: https://azdor.gov/sites/default/files/2023-06/REPORTS_sto-i-list.pdf


Here is additional information on the Public/Charter School and School Tuition Organization Credits:

https://azdor.gov/sites/default/files/2023-03/PUBLICATION_707.pdf


Qualifying Charitable Organization (QCO) Credit: This credit is available for contributions to Qualifying Charitable Organizations that provide assistance to residents of Arizona who either receive Temporary Assistance of Needy Families (TANF) benefits, are low-income residents of Arizona, or are chronically ill or have physically disabled children.  The contribution limit for the QCO Credit in 2025 is $495 for Single or Head of Household filers and $987 for Married Filing Joint filers.  The tax credit for contribution to the QCO Credit is claimed by the individual taxpayer on Form 321. 

Check this link for eligible charities: https://azdor.gov/sites/default/files/document/CREDITS_2025_qco.pdf


Qualifying Foster Care Charitable Organization (QFCO) Credit: If you donate to a qualifying foster care charitable organization that meets the criteria for serving foster children, you can make a contribution up to the maximum credit of $618 for Single and $1,234 for Married Filing Joint filers. The tax credit for contribution to the Qualifying Foster Care Credit is claimed by the individual taxpayer on Form 352. 

Check this link for eligible charities: https://azdor.gov/sites/default/files/document/CREDITS_2025_qfco.pdf


Arizona Military Family Relief Fund:  This credit helps families of deployed, injured or killed military personnel. ($200 Single / $400 MFJ). This credit caps at $1,000,000 annually, so that contribution should be made sooner in the calendar year than later. If your donation is not in the first $1mill annually, your donation will still be accepted as a donation but NOT a tax credit. There is an Estimate of Donations Received here so you can see if it is still available for a credit. Please be advised. Visit: https://dvspay.az.gov/mfrf-tax-credit


To summarize, for a Married Filing Joint return, the Public School Credit max is $400, the Private Tuition Organization Credits would be $2,986, the Qualifying Charitable Organization Credit is $987, the Qualifying Foster Care Credit is $1,234, and the AZ Military Relief Fund is $400, for a total of $6,007 of available tax credits.
 

For a Single filer, the Public School Credit max is $200, the Private Tuition Organization Credits would be $1,497, the Qualifying Charitable Organization Credit is $495, the Qualifying Foster Care Credit is $618, and the AZ Military Relief Fund is $200, for a total of $3,010 of available tax credits.  

IRS to Phase Out Paper Tax Refund Checks - Starting With Individual Taxpayers

The Internal Revenue Service, working with the U.S. Department of the Treasury, today announced that paper tax refund checks for individual taxpayers will be phased out beginning on Sept. 30, 2025, as required by Executive Order 14247, to the extent permitted by law. This marks the first step of the broader transition to electronic payments.


The IRS will publish detailed guidance for 2025 tax returns before the 2026 filing season begins. Until further notice, taxpayers should continue using existing forms and procedures, including those filing their 2024 returns on extension of a due date prior to Dec. 31, 2025.

 

Executive Order 14247 also applies to payments made to the IRS. Taxpayers should continue to use existing payment options until further notice. Additional guidance and information for filing 2025 taxes will be issued prior to the 2026 filing season.


The IRS will share updated guidance on IRS.gov and through outreach efforts nationwide.


IRS News Release:

https://www.irs.gov/newsroom/irs-to-phase-out-paper-tax-refund-checks-starting-with-individual-taxpayers

 

No tax on car loan interest (personal use)

New deduction: Effective for 2025 through 2028, individuals may deduct interest paid on a loan used to purchase a qualified vehicle, provided the vehicle is purchased for personal use and meets other eligibility criteria. (Lease payments do not qualify.)

  • Maximum annual deduction is $10,000.
  • Deduction phases out for taxpayers with modified adjusted gross income over $100,000 ($200,000 for joint filers).


Qualified interest: To qualify for the deduction, the interest must be paid on a loan that is:

  • Originated after December 31, 2024
  • Used to purchase a vehicle originally used by the taxpayer (used vehicles do not qualify)
  • For a personal use vehicle (not for business or commercial use)
  • Secured by a lien on the vehicle

If a qualifying vehicle loan is later refinanced, interest paid on the refinanced amount is generally eligible for the deduction.


Qualified vehicle: A qualified vehicle is a car, minivan, van, SUV, pick-up truck or motorcycle, with a gross vehicle weight rating of less than 14,000 pounds, and that has undergone final assembly in the United States.


To determine if a vehicle had final assembly in the U.S., check one of these:

  • The information label attached to the vehicle on a dealer's premises
  • The vehicle identification number (VIN)
  • The National Highway Traffic Safety Administration (NHTSA) VIN Decoder


Taxpayer eligibility: Deduction is available for both itemizing and non-itemizing taxpayers. The taxpayer must include the vehicle identification number (VIN) of the vehicle on the tax return for any year when the deduction is claimed.


Reporting: Lenders or other recipients of qualified interest must file information returns with the IRS and furnish statements to taxpayers showing the total amount of interest received during the taxable year.


Guidance: The IRS will provide transition relief for tax year 2025 for interest recipients subject to the new reporting requirements.



For information on this and other Tax Deductions from OBBA, see the IRS Fact Sheet here.

 

IRS Online Account

Online Account is an online system from the IRS that allows you to securely access your individual account information. Using this system will allow you to get accurate information and will help prevent delays or issues with tax return processing. Steps to set up an account are below.
 

Using Online Account you can: 

  • Access tax records
  • Make and view payments
  • View or create payment plans
  • View your balance
  • Manage your profile preferences
  • View tax professional authorizations
  • Access account transcripts and tax records
  • and more


To set up your Online Account use the link below, go to  Sign in or create account, and follow the updated instructions.

https://www.irs.gov/payments/online-account-for-individuals

 

Contributions and Rates

Contribution Limits to 401(k)s, Qualified Employer Plans & IRAs

Contribution Limits to 401(k)s, Qualified Employer Plans & IRAs

Contribution Limits to 401(k)s, Qualified Employer Plans & IRAs

             Year     Contribution*     50+ catch-up^

2025        $23,500            $7,500

 2026        $24,500            $8,000  


* some restrictions apply; be sure to check with your plan administrator

^ 2025 enhanced Catch-Up amounts for ages 60-63 if your plan allows, an extra $11,250

Traditional and Roth IRAs

Contribution Limits to 401(k)s, Qualified Employer Plans & IRAs

Contribution Limits to 401(k)s, Qualified Employer Plans & IRAs

                 Year     Contribution**  50+ catch-up 

2025       $7,000                $1,000

 2026       $7,500                $1,100 


** be sure to consider your adjusted-gross income limitations to determine if you are eligible to make a contribution or if your contribution is tax deductible

SIMPLE Plans

Contribution Limits to 401(k)s, Qualified Employer Plans & IRAs

SIMPLE Plans

             Year     Contribution   50+ catch-up^

2025      $16,500             $3,500

 2026       $17,000            $4,000 


^ 2025 enhanced Catch-Up amounts for ages 60-63 an extra $5,250

HSA Limits

Information about 2026

SIMPLE Plans

             Year             Out-of-Pocket      Contribution*

2025        Self        $8,300             $4,300

                    Family $16,600           $8,550

2026        Self        $8,500             $4,400

                    Family $17,000           $8,750


* 55+ additional $1,000

Mileage Rates

Information about 2026

Information about 2026

      Year    Business     Charity     Medical

 2025        $.700       $.14            $.21

 2026       $.TBD        $.14            $.21


  • The Business Mileage Rate will be announced in December 2025.
  • It is not expected that the Charity and Medical Mileage Rates will change in 2026.


Information about 2026

Information about 2026

Information about 2026

  •  2026 information is projected for 401(k), IRA and SIMPLE Plans
  • SECURE Act 2.0 has provisions that change several rules and requirements, so please consult a CPA or financial advisor .
  • HSA Limits have been set.

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