May 21, 2025, 2:05 PM
(from NAIS) In 2017, Congress passed the Tax Cuts and Jobs Act, several provisions of which expire at the end of 2025. Congress's new tax bill, which is still going through the approval process and has not yet reached the Senate, has several components that could impact independent schools, including the standard deduction, gift tax, taxes on various employer benefits, UBITI, nonprofit status, endowment tax and scholarship granting organizations (SGOs).
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