The Treasury Department and IRS intend to release proposed regulations on a new tax credit to bolster access to private schools by the end of September.
Created by the GOP’s 2025 tax-and-spending law, the tax break starts in 2027 and applies to donors to scholarship-granting organizations, which typically provide financial assistance for low-to-middle income K-12 students to attend private schools.
The guidance will provide states, scholarship-granting organizations, and taxpayers with details on the tax credit’s 2027 launch, according to a Wednesday Treasury announcement. The department received more than 2,000 comments after it solicited feedback on what stakeholders want to see ...