IRS says it will deny tax-exempt status to private schools that practice affirmative action
The IRS proposed a new regulation Thursday that would allow it to strip private schools of their tax exemptions if they use race-based preferences in their admissions or financial assistance.
The IRS has proposed a new regulation that could lead to the removal of tax-exempt status for private schools. This action would be taken if these schools employ race-based preferences in their admissions or financial aid processes. The proposal was announced on Thursday.
- IRS proposed a new regulation.
- Private schools could lose tax exemptions.
- Regulation targets schools using race-based preferences in admissions or financial assistance.
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