The Internal Revenue Service is conducting a routine review of the regulation that governs state tuition programs that qualify for federal tax breaks.
The IRS has published the Qualified State Tuition Programs review announcement today in the Federal Register.
The federal Paperwork Reduction Act requires agencies to assess data collection efforts every few years.
The qualified tuition program regulation governs the processes Section 529 college savings plans use to track distributions, determine whether any or all of a distribution is taxable, and help recipients determine the taxable amount.