Scholarships Granting Organizations, HSA guidance, Get Ready filing season, disaster tax relief and other tax news
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e-News for Small Business December 23, 2025
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Issue Number: 2025-22
Inside This Issue
* States can participate in new contribution tax credit to scholarship granting organizations [ #First ]
* IRS seeking public comment on changes to Health Savings Account tax benefits [ #Second ]
* Tax relief issued for Leech Lake Band of Ojibwe disaster victims [ #Third ]
* Other tax news [ #Fourth ]
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* States can participate in new contribution tax credit to scholarship granting organizations*
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Treasury and the IRS have issued guidance allowing states, including the District of Columbia, to participate in a new nonrefundable tax credit for individuals contributing to scholarships for elementary and secondary school students from low and middle-income families.
The maximum credit is limited to $1,700 per taxpayer. To qualify, Scholarship Granting Organizations must be listed on a State list of covered states that elected to participate in the credit for calendar year 2027.
To make this Advance Election, States must submit Form 15714, Advance Election to Participate Under Section 25F [ [link removed] ], for 2027 beginning Jan. 1, 2026.
For more information, see this news release [ [link removed] ].
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* IRS seeking public comment on changes to Health Savings Account tax benefits*
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The Treasury Department and the IRS are seeking public input on new tax benefits for Health Savings Account (HSA) participants [ [link removed] ] under the One, Big, Beautiful Bill. Notice 2026-05 [ [link removed] ] explains changes that make more people eligible to use and contribute to HSAs.
Under the new rules:
* People can still use telehealth and remote care services without losing eligibility to contribute to an HSA, even if they haven’t met their high deductible.
* Starting January 1, 2026, bronze and catastrophic health plans count as HSA -compatible plans, which lets more people contribute to HSAs.
* People in some direct primary care plans can also contribute to an HSA and use HSA money tax-free to pay certain periodic direct primary care fees.
Use the Federal e-Rulemaking Portal [ [link removed] ] to submit comments by March 6, 2026, on these changes before final rules are issued.
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* Tax relief issued for Leech Lake Band of Ojibwe disaster victims*
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Businesses and individuals in parts of Leech Lake Band of Ojibwe Tribal Nation [ [link removed] ] affected by severe storms and straight-line winds that began on June 21, 2025, may be eligible for tax relief. These taxpayers now have until Feb. 2, 2026, to file federal business and individual tax returns and make payments.
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* Other tax news*
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The following information may be of interest to individuals and groups involved in or related to small businesses:
* Taxpayers who finalized an adoption in 2025 or started the adoption process before 2025 should review significant changes to the Adoption Tax Credit [ [link removed] ].
* It’s not too early to get ready for the 2026 tax season [ [link removed] ]. The new year is just a few weeks away, which means the 2026 tax filing season is drawing near.
* The IRS Criminal Investigation releases fiscal year 2025 Annual Report [ [link removed] ]; details how employees helped safeguarded the global financial system and identified $10.59 billion financial crimes during FY25.
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