Yesterday, the U.S. Treasury Department issued guidance for corporations as it relates to contributions to non-profit organizations, many of which are providing scholarships for children to attend the school of their choice. The American Federation for Children, the nation’s voice for educational choice, released the following statement:
Statement from John Schilling, President of American Federation of Children:
“We are very pleased to see the Treasury Department put forward guidance that allows businesses to continue to make charitable contributions that are fully deductible, including contributions to scholarship granting organizations that provide disadvantaged children with the opportunity to attend the school of their parents’ choice. This rule should give clarity to businesses and pass-through entities that are making contributions to non-profit organizations which in turn are helping hundreds of thousands of students access the school that is right for them.
“Our team at the American Federation for Children has been working diligently on behalf of these tax credit scholarship families to ensure that guidance and ultimately final rules would not harm tax credit scholarship programs and would continue to allow as many families as possible the freedom to choose the best education for their child. We believe this is fully consistent with the intent of the Tax Cuts and Jobs Act of 2017. We look forward to further guidance regarding individual contributors and ultimately final regulations that ensure tax credit scholarship programs will continue to benefit the maximum number of American families and children.”
The guidance is posted here: https://www.irs.gov/pub/irs-drop/rp-19-12.pdf