WASHINGTON, Oct. 2 -- Internal Revenue Service has issued a proposed rule called: Federal Scholarship Tax Credit.
The proposed rule was published in the Federal Register on Oct. 2 by Frank J. Bisignano, Chief Executive Officer.
Summary: This document contains proposed regulations regarding the nonrefundable Federal tax credit for qualified contributions to scholarship granting organizations to fund qualified elementary and secondary school education scholarships. The proposed regulations would affect taxpayers who make such qualified contributions, States that elect to participate by certifying organizations as scholarship granting organizations, and the organizations that have been certified as scholarship granting organizations by one o...