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IRS Proposes Regulations to Soften Endowment Tax Hit

from Chief Investment Officer

The IRS has issued a notice saying that it and the Department of the Treasury plan to propose regulations that will not only provide clarification on the so-called endowment tax, but could lessen the hit to colleges and universities who are subjected to it. The Tax Cuts and Jobs Act of 2017 added section 4968 to the tax code, which imposes a 1.4 percent excise tax on the net investment income of private colleges and universities with at least 500 students, and with assets of at least $500,000 per full-time student. more

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