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BakerHostetler says it published guidance on scholarship donation tax credit rules
BakerHostetler said it published an analysis of temporary and proposed regulations for donations to scholarship granting organizations. The firm said the federal credit begins in 2027 and can reach $1,700 per individual, or $3,400 on a joint return where each spouse makes a qualifying contribution under the proposed rules.
Key points
- The firm said states must make their 2027 advance election by January 1 and submit organization lists by February 15.BakerHostetler
- BakerHostetler said qualifying donors may contribute to organizations listed by any participating state.BakerHostetler
- The firm said proposed rules address annual audits, donor identification and scholarship spending tests.BakerHostetler
- BakerHostetler said comments are due December 1, 2026, and the proposed regulations could change before finalization.BakerHostetler