Your federal taxes can help directly fund K-12 scholarships.
Starting January 1, 2027, a gift to a participating scholarship organization can lower your federal tax bill dollar for dollar, up to $3,400 (for married couples filing jointly, $1,700 for single filers).
See what you could redirect at https://t.co/Xxvtc1slOk.
The new Educational Freedom Tax Credit means you can donate up to $3,400 (for married couples filing jointly, $1,700 for single filers) to a scholarship and get that money back, dollar for dollar.
Give in 2027. Get it back when you file your taxes in 2028. Learn more at https://t.co/lmAlGA2rfo
#taxcredit #taxcreditsforeducation
Want to give $1,700 to a scholarship fund without a big check up front? Adjust your W-4 and set aside about $65 each biweekly paycheck. By year's end you've given $1,700, and the Education Freedom Tax Credit brings it back dollar for dollar.
Seeing your tax preparer this winter? Ask about the Education Freedom Tax Credit. Remember, it’s a dollar-for-dollar federal credit, up to $1,700 per person or $3,400 for married couples filing jointly, for gifts to scholarship groups starting in 2027.
Your 2027 scholarship tax credit could fit your paycheck routine. Proposed IRS rules allow after-tax payroll gifts to eligible funds supporting K-12 kids. Availability will depend on your employer.
75 days. That's how long until gifts start counting toward the new federal Education Freedom Tax Credit. Up to $1,700 per person or $3,400 per married household, dollar for dollar, credited back on your taxes. Put Jan 1 on your calendar.
A tax benefit should come with clear answers:
What can I claim? Where does my gift go? How are students chosen?
We're making scholarship tax credits easier to understand, from your tax return to a child's education.
Get notified: https://t.co/ckEG7WCdBs 👇
For the first time, American taxpayers can choose to send part of their federal taxes to fund a child's education. The new Federal Scholarship Tax Credit will direct billions of dollars to K-12 scholarships, and I'm working to make sure families know about it, can use it, and get their kids into schools that bring out their best.
Follow my work @edtaxcredit
Myth: EFTC only helps private schools.
Fact: scholarships can cover tutoring, tuition, special ed services, and transportation for public, charter, and private school students, and homeschoolers in some states.
UPDATE: New Analysis of Treasury Rules Shows 42 Million Married Couples Can Claim $3,400 Through Education Freedom Tax Credit
Statement by Tommy Schultz (@Tommy_USA), CEO, American Federation for Children (@SchoolChoiceNow):
“The Education Freedom Tax Credit has the potential to transform education for millions of children, and Treasury’s latest guidance brings us one step closer to realizing its full impact. By allowing married couples filing jointly to contribute up to $3,400, more Americans will be able to support K-12 scholarships. AFC's new analysis shows that 42 million married couples could benefit from this provision, generating an estimated two million additional scholarship opportunities for students across the country. As we prepare for the January 1 launch, we're committed to ensuring this historic tax credit delivers for families nationwide through our continued advocacy efforts and the AFC Scholarship Fund.”
You could still qualify for a scholarship tax credit even if you usually get a tax refund.
K-12 scholarship credit starts Jan. 1, 2027.
Get notified: https://t.co/ckEG7WCLr0
Up to $3,400 off your federal taxes –– and more opportunity for kids.
Starting Jan. 1, 2027, scholarship gifts can earn a dollar-for-dollar tax credit.
Welcome to Tax Credits for Education. We’ll make it simple. Follow us, and get notified: https://t.co/ckEG7WCLr0.