Federal update
On December 20th, President Trump signed H.R. 1865, the “Further Consolidated Appropriations Act of 2020,” an end-of-year $1.4 trillion spending bill that averted a government shutdown. Regarding taxes, the bill contains several victories for private colleges and universities. Fixes the “kiddie tax.” The 2017 Tax Cuts and Jobs Act (TCJA) included a provision that resulted …