The Internal Revenue Service (IRS) announced that 27 states have elected to participate in the new Federal Scholarship Tax Credit (FSTC) program, allowing eligible taxpayers to claim a federal tax credit for contributions made to qualified Scholarship Granting Organizations (SGOs). The program, established under the One Big Beautiful Bill Act, provides taxpayers with a federal tax credit of up to $1,700 when making eligible donations to participating SGOs that fund scholarships for elementary and secondary education expenses. Participation in the FSTC program is voluntary for states. As of June 2026, participating states include Alabama, Alaska, Arkansas, Colorado, Florida, Georgia, Idaho, Indiana, Iowa, Louisiana, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia, and Wyoming. The IRS will continue updating the official list of participating states and qualified Scholarship Granting Organizations as additional states complete the enrollment process. Taxpayers interested in claiming the credit should verify that both their state and the Scholarship Granting Organization are approved participants in the program before making contributions.
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Services
TFMR provides comprehensive accounting, tax, bookkeeping, payroll, and financial advisory services for businesses and individuals. Our experienced team delivers practical solutions that help clients maintain compliance, improve financial performance, and achieve long-term success. We combine industry expertise with personalized service to support your financial goals at every stage.
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TFMR serves clients across a wide range of industries, including construction, manufacturing, retail, healthcare, professional services, hospitality, transportation, real estate, and non-profit organizations. We understand the unique financial challenges of each sector and provide tailored accounting and tax solutions to meet industry-specific requirements.
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Spotlight
Helping businesses build stronger financial foundations through accurate accounting, strategic planning, and trusted advisory services.
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About TFMR
At TFMR, we believe that strong financial management is the foundation of business success. Our team of accounting and tax professionals provides reliable bookkeeping, tax planning, payroll management, financial reporting, and business advisory services. We work closely with our clients to simplify complex financial matters, ensure regulatory compliance, and provide the insights needed to make informed business decisions with confidence.
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Careers
Join a team dedicated to excellence, professional growth, and client success. At TFMR, you will have the opportunity to work with experienced professionals, develop your skills, and make a meaningful impact while helping businesses and individuals achieve their financial goals. We value collaboration, integrity, and a commitment to outstanding service.
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