For Colleges, IRS' Endowment Tax Proposal Is Overly Taxing

By Alexander Reid and Kensington Wolgamott (August 5, 2019, 3:49 PM EDT) -- Colleges and universities should pay close attention to the proposed regulations that the U.S. Department of the Treasury and the Internal Revenue Service recently issued interpreting the new "endowment tax" under Internal Revenue Code Section 4968,[1] and may wish to consider writing comments even if they are not currently affected by the tax because the proposed regulations would tax more — potentially much more — than what is traditionally considered part of the endowment.

The proposed regulations take an expansive interpretation of what income may be subject to the tax; however, it is not uncommon for final regulations to take a...

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