Pa educational improvement tax 2025

See details

4.8 out of 5

161 votes

The document is the REV-1123 Educational Improvement/Opportunity Scholarship Tax Credit Election Form, which must be downloaded and completed by pass-through entities to report and elect the passing through of Educational Improvement Tax Credits (EITC) or Opportunity Scholarship Tax Credits (OSTC) to their owners. It includes sections for identification information, allocation of credits, and specific instructions on how to fill out the form, including deadlines and requirements for carrying forward unused credits.

Here's how it works

01. Edit your rev 1123 online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send form 1123 via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out pa educational improvement tax with our platform

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open the Educational Improvement Tax Credit Election Form (REV-1123) in the editor.
In Section I, enter the pass-through entity's name, address, and contact information. Make sure to include the Identification Number (FEIN or SSN) and the amounts awarded for EITC and OSTC along with their respective tax years.
For Line 3, record each contribution made towards educational improvement, including dates and amounts. Ensure that you total these contributions accurately.
In Lines 4 and 5, select whether the awarded credits will be passed through for use in the current tax year or the following year by checking 'Yes' for one option only.
Complete Section II by listing each owner’s details who will receive a pass-through credit. Include their distributive income percentage and ensure that total allocations do not exceed amounts reported in Section I.
Finally, have an authorized company official sign and date the form before submitting it to the PA Department of Revenue.

Start using our platform today to streamline your form completion process for free!

See more pa educational improvement tax versions

We've got more versions of the pa educational improvement tax form. Select the right pa educational improvement tax version from the list and start editing it straight away!

Versions	Form popularity	Fillable & printable
2020	4.8 Satisfied (161 Votes)
2019	4.3 Satisfied (172 Votes)
2018	4.3 Satisfied (61 Votes)
2017	4.1 Satisfied (52 Votes)
2015	4.4 Satisfied (62 Votes)
2013	4.1 Satisfied (63 Votes)

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Are home improvements tax deductible in PA?

Home improvements and taxes When you make a home improvement, such as installing central air conditioning or replacing the roof, you cant deduct the cost in the year you spend the money. But, if you keep track of those expenses, they may help you reduce your taxes in the year you sell your house.

What is the EITC OSTC program in PA?

The Pennsylvania educational tax credit programs (EITC/OSTC) incentivize donors to transform their tax dollars into scholarships for kids who are eager to learn at safe, quality tuition-based schools.

Who is eligible for EITC for individuals in PA?

Program Eligibility Individuals who pay $3,500 or more in PA state tax are eligible to apply. Businesses authorized to do business in Pennsylvania who are subject to one or more of the following taxes are eligible to apply: Personal Income Tax. Capital Stock/Foreign Franchise Tax.

Is the child tax credit and EITC the same thing?

Share: No. The child tax credit is a credit for having dependent children younger than age 17. The Earned Income Credit (EIC) is a credit for certain lower-income taxpayers, with or without children.

What are the disadvantages of the EITC?

Weaknesses of the EITC Despite its strengths, the EITC has several flaws: it is complicated, has a high error rate, discourages work past a certain income threshold, imposes a marriage penalty, and creates disparity between workers with and without children.

pennsylvania rev 1123

PA Educational Improvement tax credit individuals Pa educational improvement tax eligibility PA EITC approved Organizations Educational Improvement tax credit for individuals PA EITC explained PA EITC application PA EITC federal deduction PA EITC income Guidelines

Related forms

be ready to get more

Complete this form in 5 minutes or less

Get form

What is the difference between EITC and OSTC in PA?

Program Overview EITC provides low-income children and families, who reside in Philadelphia, with much needed tuition assistance. The Opportunity Scholarship Tax Credit (OSTC) program provides tuition assistance to children who live within the attendance boundaries of Pennsylvanias worst performing 15% of schools.

When did PA EITC start?

The EITC Program started in PA in 2001. The OSTC Program was launched in 2012. The SPE program was introduced in 2015. PA distributes $225million to EITC and OSTC participants annually.

Pa educational improvement tax 2025

Here's how it works

How to use or fill out pa educational improvement tax with our platform

See more pa educational improvement tax versions

Complete this form in 5 minutes or less

Got questions?

Are home improvements tax deductible in PA?

What is the EITC OSTC program in PA?

Who is eligible for EITC for individuals in PA?

Is the child tax credit and EITC the same thing?

What are the disadvantages of the EITC?

Complete this form in 5 minutes or less

People also ask

What is the difference between EITC and OSTC in PA?

When did PA EITC start?

rev1123

Try more PDF tools