Greetings, Circle Friends!
For the first time, Missouri reached the $1.75 million state allocation of Food Pantry Tax Credits (for the 2020 tax year). That means that donors claimed more than $1.75 million in food pantry tax credits this spring. Per state statute, it also means that all claims for the credits will be apportioned equally among those who submitted a tax credit form and filed a valid claim. The Missouri Department of Revenue reports that all valid claims will be paid at approximately 89.8 percent. For example, if you expected a credit of $100, you will receive $89.90.
The good news is that you can claim the remaining 10.1 percent of your anticipated tax credit by resubmitting your 2020 tax return – marked “Amended” – by April 15, 2022 to the Missouri Department of Revenue. It’s important to know that the final amount will be awarded from the 2021 pool of credits and that you will receive it next year at about this time.
More good news is that you can still take full advantage of the tax credit for donations made this year, submitting your claim as you normally would with your 2021 state tax return by April 15, 2022. Any residual credit owed to you from 2019 or 2020 will not reduce your claim for any 2021 giving.
We understand that this unusual situation was due to delayed 2019 tax filings – and unprecedented giving to Missouri pantries, soup kitchens and shelters in 2020. While we are grateful that so many donated so generously, we recognize that this situation creates an extra step for our donors, and we apologize for the inconvenience. While there is some chance that delayed 2020 filings could create this situation again next spring, we feel it is unlikely, as organizations like Circle are seeing a more “normal” year in terms of giving.
For more information about your tax credits, please call the Missouri Department of Revenue at 573.751.3220. Staff members there are very helpful and can quickly look up any details about your claim.
Thank you for your generous giving, and for putting the food pantry tax credit to work for our client families!
With warm regards,
The staff of Circle of Concern
