10/18/2026
💚 NEW TAX CREDIT COMING IN 2027! 💛
At Tax Lux Society, we keep you informed so you can plan ahead.
Beginning January 1, 2027, eligible taxpayers may qualify for a federal tax credit of up to $1,700 for qualifying cash donations to approved Scholarship Granting Organizations (SGOs). These organizations help eligible K–12 students pay qualified education expenses.
🚨 A $1,700 tax credit does NOT automatically mean an extra $1,700 refund!
This credit is nonrefundable, meaning it can reduce your federal income tax liability. Any unused credit may generally carry forward for up to five years.
Before donating, know this:
✅ The organization must qualify under federal rules.
✅ The state where the SGO is located must participate and submit its approved SGO list to the IRS.
✅ Your contribution must meet the credit’s requirements.
📅 This begins with qualifying contributions made in 2027—not your 2026 tax return filed in 2027.
At Tax Lux Society, staying ahead of tax changes is part of helping you make informed financial decisions.
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