Proposed Federal IRS Tax Changes UPDATED
The House and Senate passed the Tax Cuts and Jobs Act. President Trump signed the bill 12.22.2017. While initially there was angst for higher education, the final version experienced many revisions. Below outline the positive outcomes.
1. The bill retains tax-exempt tuition opportunities for employee dependents, including the spouse.
2. Graduate student tuition waivers will not be subject to tax.
3. Employer-provided tuition assistance will not be considered income and as such, will not be taxable.
If you have additional questions, please contact your Tuition Exchange Liaison Officer.