WASHINGTON, Oct. 2 -- Internal Revenue Service has issued a rule called: Federal Scholarship Tax Credit.
The rule was published in the Federal Register on Oct. 2 by Frank J. Bisignano, Chief Executive Officer.
Summary: This document contains temporary regulations that address the new nonrefundable Federal tax credit for qualified contributions to scholarship granting organizations made in 2027 and later taxable years to fund qualified elementary and secondary education scholarships. The temporary regulations implement certain requirements and procedures for States that make elections to participate in this Federal tax credit and organizations that have been certified as scholarship granting organizations by one or more participating State...