Georgia has taken a significant step forward in supporting young adults who age out of the foster care system by renewing and expanding the Fostering Success Tax Credit program.
The Fostering Success Tax Credit is a program that allows Georgia residents, businesses, and organizations to redirect a portion of their state income taxes to support programs designed for youth aging out of foster care. Instead of paying your taxes directly to the state, you can choose to contribute part of it to a qualified foster child support organization (QFCSO).
For example:
If you owe $5,000 in Georgia state taxes, you can donate $2,500 to an approved organization under this program. In return, your tax bill will be reduced by $2,500. It's a dollar-for-dollar credit.
How does the tax credit help youth aging out of foster care?
The Fostering Success Tax Credit directly funds programs that address the following:
- Housing Stability
- Educational Opportunities
- Workforce Development
- Wraparound Services (mental health, life skills, budgeting, etc.)
If you’re a Georgia taxpayer interested in making an impact while reducing your tax bill:
- Visit the Georgia Tax Center and apply for preapproval under Form IT-QFCD-TP1.
- Once approved by the Department of Revenue (DOR), donate within 60 days directly to an eligible QFCSO such as Wellroot Family Services or Advocates for Children.
- Claim your dollar-for-dollar tax credit when filing your state income taxes using Form IT-QFCD-TP2.
Author: Ericka Cameron-Carr
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