Good News: IRS Releases Notice Affecting Contributions to Georgia GOAL
- Additional guidance released by the IRS eliminates any potential federal income tax cost for taxpayers who contribute to a state income tax credit program such as Georgia GOAL. And, of course, their 100% state income tax credit remains intact.
- The IRS confirmed the potential federal deductibility of contributions to Georgia GOAL by pass-through entities as ordinary and necessary business expenses.
For more details, read the email from GOAL President, Lisa Kelly, sent on June 12, 2019.
Also, please refer to our one-pager and FAQ sheet below.