Treasury Previews Education Freedom Tax Credit Guidance

WASHINGTON — The U.S. Department of the Treasury previewed forthcoming Treasury and IRS guidance for the implementation of the new federal scholarship tax credit enacted as part of the Working Families Tax Cuts.“Under President Trump’s leadership, we are taking a transformative step toward an education system that fits the student rather than the other way around,” said Treasury Secretary Scott Bessent. “At Treasury, we take seriously the work of implementing this federal tax credit faithfully and effectively. We are committed to providing certainty to states, scholarship-granting organizations, taxpayers, and families alike, as well as making certain that this process is easy to navigate.”The forthcoming guidance is expected to provide states, scholarship-granting organizations, taxpayers, and other stakeholders with a clear path to prepare for the launch of the Education Freedom Tax Credit in January 2027.