Treasury Proposes Federal Scholarship Tax Credit Regulations

The Treasury Department and IRS have issued proposed regulations that would eliminate an information-return filing requirement for certain trusts whose only charitable contribution deductions flow from a partnership or S corporation in which the trust holds an interest. Read the full update from Liskow attorneys Leon Rittenberg III, Caroline Lafourcade, and Kevin Naccari, Jr. below. https://lnkd.in/gbNrgerW

“This is just a federal tax credit. It’s not a federal education program. It’s just a tax credit. Keep that in mind at all times.” This is the advice that EdChoice's Senior Advisor for Legal Policy Leslie Hiner shared with the group during State Policy Network's Annual Meeting last month. Here is a breakdown of what we know so far about the new federal tax credit for scholarships program. https://lnkd.in/eDB3pxnY

The Treasury Department and IRS issued final regulations implementing the new deduction for qualified passenger vehicle loan interest (QPVLI), a temporary benefit created by the One, Big, Beautiful Bill Act (OBBBA) that allows individuals to deduct up to $10,000 of interest paid on certain auto loans, even if they do not itemize deductions. Read the full update from Liskow attorneys Leon Rittenberg III, Caroline Lafourcade, and Kevin Naccari, Jr. below. https://lnkd.in/gCHqVEdj

Grandparents Guide To 529s A 529 plan is a tax-advantaged education savings plan. Before choosing a plan, it's important to consider not only the state tax treatment but also any associated fees and expenses. Availability of a state tax deduction will depend on your state of residence, as state tax laws and treatment may vary from federal tax laws. If you make nonqualified distributions, earnings will be subject to income tax and a 10% federal penalty tax. This material is for informational purposes only and is not a replacement for real-life advice. Consult your tax, legal, and accounting professionals if you are considering a 529 strategy. Sources: Internal Revenue Service, January 30, 2026 Kiplinger, April 14, 2026 Forbes, May 25, 2026 Saving for College, April 30, 2026

On February 20, 2026, the Department of the Treasury and the Internal Revenue Service (IRS) released Notice 2026-16, providing interim guidance on the special depreciation allowance for qualified production property enacted as part of the One, Big, Beautiful Bill Act (OBBBA). Read the full update from Liskow attorneys Leon Rittenberg III, Caroline Lafourcade, Kevin Naccari, Jr. below. https://lnkd.in/gW5-ymJP

A 529 plan is a tax-advantaged education savings plan. Before choosing a plan, it's important to consider not only the state tax treatment but also any associated fees and expenses. Availability of a state tax deduction will depend on your state of residence, as state tax laws and treatment may vary from federal tax laws. If you make nonqualified distributions, earnings will be subject to income tax and a 10% federal penalty tax. This material is for informational purposes only and is not a replacement for real-life advice. Consult your tax, legal, and accounting professionals if you are considering a 529 strategy. Sources Internal Revenue Service, January 30, 2026 Kiplinger, April 14, 2026 Forbes, May 25, 2026 Saving for College, April 30, 2026

The U.S. Department of the Treasury and the Internal Revenue Service recently issued proposed regulations addressing technical provisions applicable to tax-advantaged bonds, including tax-exempt municipal bonds and other federally subsidized bond programs. Read the update from Liskow attorneys Leon Rittenberg III, Caroline Lafourcade, Kevin Naccari, Jr. below. https://lnkd.in/g3cykDrC

School is back in session, and tax planning deserves a spot on your fall checklist too! As students and families settle into a new school year, it’s a great time to take a closer look at education-related expenses and how they may factor into your taxes. Depending on your situation, certain college tuition and education costs may qualify for valuable tax benefits, including education credits. A few things to keep on your radar:    Keep records and receipts for qualifying education expenses  Look into education tax credits that may apply to you or your dependent.  Track eligible tuition, fees, and other education-related costs.  Keep important tax documents organized throughout the school year.  Don’t wait until tax season to start planning! Every tax situation is different, and understanding which benefits you may qualify for can make navigating tax season a whole lot easier. ROI Tax is here to help you stay organized, informed, and prepared. Have questions about education expenses and your taxes? Connect with our team to learn more. ROI Tax  503.777.3353 | hello@roi-tax.com | www.roi-tax.com  #SavvyStrategicEffective  #ROITax #BackToSchool #BackToSchoolTips #TaxTips #TaxPlanning #EducationTaxCredits #TaxStrategy #FinancialPlanning

The IRS announced that it will once again issue private letter rulings on “significant issues” arising in corporate reorganizations and spin-offs, reversing a 2024 policy that had curtailed such rulings. Under Revenue Procedure 2026-21, taxpayers may now request rulings on discrete legal issues within a transaction, rather than seeking a ruling on the entire structure. Read the full update from Liskow attorneys Leon Rittenberg III, Caroline Lafourcade, and Kevin Naccari, Jr. below. https://lnkd.in/dJsrFRi3

🦸♂️ Meet The Education Distribution Defender A 529 distribution is not automatically tax-free just because it supports education. Treatment can depend on how the money was used, whether the expense qualifies, who received the distribution, whether another tax benefit was claimed for the same cost, the timing of payments, and current federal and state rules. A distribution that is not fully qualified may have different tax consequences, and state treatment may not match federal treatment. Get ahead with a clean education file: ✅ Match each withdrawal to eligible expenses ✅ Keep invoices, receipts, enrollment records, and payment dates ✅ Coordinate distributions with education credits ✅ Track scholarships, refunds, and account activity ✅ Review federal and state consequences before filing Accuracy is more than entering a form. It is connecting the distribution, the expense, and the supporting record. The Tax Team brings integrity, careful review, and more than 50 years of cumulative experience to personal and business tax preparation. Have an education-related tax question? Call 956-586-0801 or schedule a consultation: https://lnkd.in/dsNsZwiJ Facebook: https://lnkd.in/gASzz-DH LinkedIn: https://lnkd.in/gZGEHWQ7 #TaxTips #EducationPlanning #TaxPreparation #FinancialPlanning #TheTaxTeam

The US Court of Appeals for the Fifth Circuit has quietly rewritten the rules for who counts as a “limited partner” exempt from self-employment tax, replacing a taxpayer-friendly January opinion with a more restrictive standard that will make the exemption harder to claim for partners who are actively involved in running their businesses. Read the full update from Liskow attorneys Leon Rittenberg III, Caroline Lafourcade, and Kevin Naccari, Jr. below. https://lnkd.in/gWSMktUT

Treasury has released proposed rules for the new Federal Scholarship Tax Credit, launching Jan. 1, 2027. What does it mean for states, families, and schools? Our latest analysis breaks down the key provisions, deadlines, and implementation considerations. ⬇️ https://lnkd.in/dk8RppAN

The Department of the Treasury and the Internal Revenue Service have issued final regulations addressing reporting obligations for certain tax-free exchanges of life insurance contracts under Internal Revenue Code Section 1035 and transfers of life insurance contracts involving valuable consideration. Read the full update from Liskow attorneys Leon Rittenberg III, Caroline Lafourcade, Kevin Naccari, Jr., and John Rouchell below. https://lnkd.in/gW3Ts-nW