Schools, Nonprofits Race to Tap into Scholarship Tax Break Cash

Tax attorney Nicole Elliott was cited in a Bloomberg Tax article examining how schools and nonprofit organizations are preparing to take advantage of a new federal scholarship tax credit program for K-12 educational scholarships. The article discussed proposed IRS and U.S. Department of the Treasury rules for the Education Freedom Tax Credit that could drive billions of dollars in donations to scholarship granting organizations (SGOs), expand educational funding opportunities and encourage the creation of new nonprofit entities to support students. Nicole highlighted the program's potential impact on both donors and scholarship organizations as they look toward implementation.

"It's pretty transformative," she commented. "There will be a lot of individuals weighing donations and SGOs thinking about how they can stand up and get money to kids who need it."

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