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Miller Johnson says it reviewed new federal scholarship tax credit guidance
Miller Johnson said it published an alert on Treasury and IRS guidance for the federal scholarship tax credit program starting January 1, 2027. The firm said the temporary and proposed regulations address state participation, scholarship organizations, donor credits and compliance, and noted that Michigan had not elected to participate.
Key points
- Miller Johnson said participating states must approve scholarship granting organizations before they accept qualifying donations.Miller Johnson
- The firm said organizations generally must devote at least 90% of specified funds to scholarships.Miller Johnson
- Miller Johnson said participating states must submit their 2027 organization lists by February 15, 2027.Miller Johnson
- The firm said comments on the proposed regulations are due December 1, 2026.Miller Johnson