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Thompson Coburn publishes alert on private-school tax exemption proposals
Thompson Coburn said it published an alert on proposed Treasury and IRS regulations issued September 3 that would condition private schools’ section 501(c)(3) exemption on not discriminating by race, color or national or ethnic origin in admissions, scholarship or loan programs, athletics and other school-administered programs. The firm said comments are due November 3 and the rules would apply to taxable years beginning after May 31, 2027.
Key points
- Thompson Coburn’s publication discussed admissions policies.Thompson Coburn
- The alert addressed scholarships, loans and athletic programs.Thompson Coburn
- The firm’s article examined conditions attached to donor support.Thompson Coburn
- The publication distinguished proposed requirements from their possible future effective dates.Thompson Coburn