College Endowments and Donations on the Taxing Block?
College and university endowments could be a potential cash cow for the federal government in need of additional revenue to add to its spending ceilings, exacerbating the $18.8 trillion in national debt.
By Dr. Ileana Johnson Paugh —— Bio and Archives--December 15, 2015
American Politics, News | Comments | Back To Full Article
Congress is looking at college and university endowments and at their donors as a source of revenue. Tax endowment fund earnings have been exempted from federal income tax and those who contributed to such endowment funds were able to “deduct the value of their contributions from income subject to tax.”
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