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Murfreesboro Tennessee Form Example Attachments 1023: What You Should Know
You can use this guide to identify which categories of businesses can or cannot participate, provide more information about the program, and apply for assistance in applying. For more information, contact the IRS toll-free at or visit the TN Department of Revenue's website at. Municipal Council Chambers (1st Floor of Murfreesboro City Hall) Wednesday, September 26, 9:15 a.m. Contact: Susan E. Campbell , email: Or call: 1022 Exemptions — Schedule A following exemptions are available to taxpayers with no dependents, or dependents who do not exceed the maximum credit and are the spouses or dependents of a taxpayer who do not have a tax identification number. Section 170(b) Credit—A taxpayer may claim an exemption for the payment of qualified charitable contributions. The total qualifying donated amount may be less than 25,000. Taxpayers may claim the credit on their federal income tax return. Qualified charitable contributions include cash donations to churches and exempt organizations and donations of personal property to individuals who provide qualified services for charitable purposes. The credit is reduced proportionately on adjusted gross income and on the excess of charitable contributions over the 25,000 maximum. If the total qualified charitable contributions are between the 25,000 maximum and 50,000 or more, the tax liability is reduced by 25,000 (50,000 if married) on Schedule A to Form 1040. The credit may be claimed for charitable contributions paid in 2024 and may be carried forward indefinitely. The credit is allowed against a taxable amount for taxable year 2024 and may not be used in subsequent years for the same purposes. Claiming this credit is an alternative means of reducing the tax liability. Section 170 Exemption—A taxpayer may claim an exemption for cash contributions of qualified property and qualified computer software to qualified organizations that provide services for charitable purposes. The qualifying property must be purchased and the organization must provide service in another State on or before December 31 of the tax year. Qualified computer software includes software intended to provide computer-aided design or construction services, as well as software specifically designed for personal computer use.
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