Share with your friends

Final regulations pending OIRA review: Excise tax on college net investment income

Excise tax on college net investment income

OMB’s Office of Information and Regulatory Affairs (OIRA) has received for review final regulations under section 4968 relating to the excise tax on college net investment income.


Related content

The 2017 U.S. tax law (Pub. L. No. 115-97, the law that is often referred to as the “Tax Cuts and Jobs Act” (TCJA)) created an excise tax on the net investment income of some private colleges and universities.

Treasury regulations that are identified as “major” regulations are subject to review by OMB’s OIRA before being issued, pursuant to Executive Order 13771. Therefore, knowing the status of OIRA review of Treasury regulations can help in predicting when regulations may be issued by Treasury and the IRS. According to OIRA, the final regulations that were received for review on August 24, 2020, are described as follows: 

  • RIN: 1545-BO75: Guidance on section 4968 excise tax on college net investment income

The Treasury Department and IRS in late June 2019 issued proposed regulations as guidance concerning this excise tax. At the time of the release of the proposed regulations, there were many difficult questions left unanswered. Read TaxNewsFlash

For more information, contact a tax professional with KPMG’s Washington National Tax practice:

Ruth Madrigal | +1 202 533 8817 |

Preston Quesenberry | +1 202 533 3985 |

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal