Did you know that the state of Indiana will “split” the cost of any gift you make to Indiana Wesleyan University?
It's true. Those filing a joint tax return who give a gift of $400 to IWU will be credited $200 by the state of Indiana. Likewise, those who file a single tax return will be credited $100 by the state for a gift of $200. You may also be eligible for a federal tax deduction.
How does it work?
How do you collect from the state of Indiana?
This is an actual TAX CREDIT, not a deduction! Even if you would not normally file an Indiana Tax Return, you would be entitled to file a return and claim your credit/refund.
If you owe taxes, your credit will reduce the amount owed. Other rules can apply, read the CC-40 form instructions carefully or consult your tax advisor.