The purpose of the work is to calculate accurate values of molecular properties of tetracyanoquinodimethane (TCNQ) and anions using the complete active space self-consistent field and complete active space second-order perturbation theory methods. The accuracy has been evaluated using several basis sets and active spaces. The calculated properties have, in many cases, been confirmed by experimental data (within parentheses), e.g., 9.54 eV (9.61 eV) and 3.36 eV (3.38 eV) for the ionization potential and electron affinity, respectively, of TCNQ; 3.12 eV (3.01 eV) and 3.54 eV (3.42 or 3.60 eV) for transition energies to the two lowest-lying excited singlet states of TCNQ; − 0.03, 0.46 and 1.44 eV (0, 0.5 and 1.4 eV) for electronic energies in electron attachment of TCNQ forming $$\hbox {TCNQ}^-$$; and 3.88 eV (3.71 eV) for the transition energy to the second lowest-lying excited singlet state of $$\hbox {TCNQ}^{2-}$$. Further, the calculations have brought insight into some experimental observations, e.g., the shape of the fluorescence spectrum of TCNQ at 3–4 eV.