If you are self-employed or make estimated quarterly tax payments, you may still participate.
During the 2027 tax year, you may make a qualified contribution to an approved Scholarship Granting Organization, such as Well Planned Education. That contribution generates a federal tax credit that applies to your 2027 federal income tax liability when you file your return in 2028.
Many taxpayers who pay quarterly choose to reduce a future estimated payment by the amount of the credit they expect to claim. Others prefer to keep estimated payments unchanged and apply the credit at filing time.
Because quarterly payments must meet IRS safe harbor rules, consulting a tax professional before adjusting estimated payments is recommended.
