A number of provisions in the Tax Cuts and Jobs Act (H.R. 1) affect higher education. This matrix compares prior legislation with new legislation enacted under this tax reform bill.
Student Aid Tax Issues | Nonprofit Tax Compliance | Endowments and Charitable Giving | Analysis | Taxation & Finance
AAU has sent a letter to the House Committee on Ways and Means and to the Senate Committee on Finance expressing concern on the Tax Cuts and Jobs act, H.R. 1.
AAU joined other education associations in supporting Senator James Lankford's charitable giving amendment (#1593) to H.R. 1, the Senate version of the Tax Cuts and Jobs Act.
AAU and higher education associations comment on higher education provisions in the Senate version of H.R. 1. the Tax Cuts and Jobs Act.
I applaud Sen. Lankford & Rep. Walker for introducing the Universal Charitable Giving Act, which incentivizes charitable giving to nonprofit causes.
AAU joined 45 other higher education associations to express concerns with the Senate version of H.R. 1, the Tax Cuts and Jobs Act.
Endowments are collections of donated funds that are managed to provide permanent support for nonprofit universities' educational, scientific, and charitable missions -- namely, teaching students, performing research, and addressing problems affecting communities, states, and the nation.
While we are pleased the Senate tax reform bill retains many of the student tax benefits the House was willing to eliminate, it still cuts too many programs that keep higher education accessible and affordable.
The vast majority of public and private universities and colleges are tax-exempt entities as defined by IRC Section 501(c)(3) because of their educational purposes—purposes that the federal government has long recognized as fundamental to fostering the productive and civic capacity of its citizens—and/or the fact that they are state governmental entities.
Employer-provided educational assistance benefits (Section 127) allows employers to offer their employees up to $5,250 annually in tax-free educational assistance for undergraduate or graduate-level courses.