Higher Education: IRS and Education Could Better Address Risks Associated with For-Profit College Conversions. Testimony before the Committee on Education and Labor, House of Representatives. GAO-21-500T
Overview & Synopsis
A for-profit college may convert to nonprofit status for a variety of reasons, such as wanting to align its status and mission. However, in some cases, former owners or other insiders could improperly benefit from the conversion, which is impermissible under the Internal Revenue Code and Higher Education Act of 1965, as amended. This statement--based on the US Government Accountability Office's (GAO's) December 2020 report (GAO-21-89)--discusses what is known about insider involvement in conversions and the extent to which IRS and Education identify and respond to the risk of improper benefit. [For "Higher Education: IRS and Education Could Better Address Risks Associated with Some For-Profit College Conversions. Report to Congressional Requesters. GAO-21-89," see ED612779.]
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Document Information
| Document Title | Higher Education: IRS and Education Could Better Address Risks Associated with For-Profit College Conversions. Testimony before the Committee on Education and Labor, House of Representatives. GAO-21-500T |
|---|---|
| Author / Organization | Emrey-Arras, Melissa |
| Subject & Discipline | Proprietary Schools, Private Colleges, Taxes |
| Categories | Education & Pedagogy |
| Publication Year | 2021 |
| License / Rights | Public Domain / Open Access Educational Resource |
| Resource Verification | Listed PDF (Verification Pending) |
| Original Host Website |
ERIC (Education Resources)
(eric.ed.gov)
|
| File Format | application/pdf (Portable Document Format) |
| Language | EN |
| Catalog ID | DOC-306617 |
| Original Source Link | Visit Source Page on eric.ed.gov » |