The U.S. tax law (Pub. L. No. 115-97) enacted in December 2017 created an excise tax on the net investment income of some private colleges and universities.
The new measures gave rise to certain question such as:
The Treasury Department and IRS in late June 2019 issued proposed regulations as guidance concerning the excise tax. Nevertheless, these proposed regulations leave many difficult questions unanswered.
Read a July 2019 report [PDF 386 KB] prepared by KPMG LLP: What’s News in Tax: IRS issues proposed regulations for university excise tax
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