As we approach the pinnacle of tax season, we’re hearing a lot from taxpayers about the size of their refunds or the size of their bills—for some, much bigger or much smaller than anticipated due to tax reform. The Tax Cuts and Jobs Act, passed at the end of 2017, was one of the most sweeping reforms of our tax code in decades, and repercussions of the bill—both positive and negative—will likely be felt through all sectors of our economy for years to come. We thought readers of The Insider, however, may be particularly interested in taking a look back at the education provisions of the bill—how tax reform is affecting students, parents, and the educational institutions that support them. We’ve broken down the key education provisions of the Tax Cuts and Jobs Act into categories, based upon the stakeholders most affected, though impacts will certainly be felt across stakeholder groups and through society at large.
