Form 4642 Michigan Voluntary Contributions Schedule - Michigan

What Is Form 4642?

This is a legal form that was released by the Michigan Department of Treasury - a government authority operating within Michigan. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form 4642?
A: Form 4642 is the Michigan Voluntary Contributions Schedule.

Q: What is the purpose of Form 4642?
A: The purpose of Form 4642 is to allow taxpayers to make voluntary contributions to eligible charitable organizations in Michigan.

Q: Who needs to file Form 4642?
A: Taxpayers who want to make voluntary contributions to eligible charitable organizations in Michigan.

Q: What are voluntary contributions?
A: Voluntary contributions are donations made by taxpayers to charitable organizations that are non-deductible for federal tax purposes but may be eligible for a state tax credit or deduction.

Q: Can I claim a deduction for my voluntary contributions on my federal taxes?
A: No, voluntary contributions are not deductible on your federal taxes.

Q: What organizations are eligible to receive voluntary contributions in Michigan?
A: Eligible organizations include charitable organizations that are registered with and approved by the Michigan Department of Treasury.

Q: What is the benefit of making voluntary contributions?
A: The benefit of making voluntary contributions is that you may be eligible for a state tax credit or deduction, depending on the specific program.

Q: How much can I contribute to eligible organizations?
A: The amount you can contribute is determined by the specific program and its contribution limits. Please refer to the instructions for Form 4642 for more information.

Q: When is the deadline to file Form 4642?
A: The deadline to file Form 4642 is the same as your individual income tax return deadline, typically April 15th.