Home Deans' Memos MEMORANDUM 98-56
December 21, 1998
| To: | Deans of Member and Fee-Paid Schools |
| From: | Barbara Cox |
| Subject: | Written comments concerning proposed Internal Revenue Service Regulations |
In Deans' Memo 98-39, dated September 14, 1998, we provided you with information about proposed regulations for excise taxes on "excess benefit transactions" under Section 4958 of the Internal Revenue Code.
The AALS has been working with the American Council on Education (ACE) and other higher education associations to develop written comments with respect to the proposed regulations. ACE sent a letter to the Internal Revenue Service on November 4, 1998. AALS was one of sixteen signatories to the letter, urging the IRS to consider carefully the concerns of the higher education community with respect to the proposed regulations.
We have enclosed a copy of the ACE letter for your information. [Enclosure not included on website.]
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