KU to get larger refund from federal government
Topeka ? Kansas University got some good news from the Internal Revenue Service.
The school had earlier estimated that it would receive a refund of approximately $15 million in FICA taxes plus interest paid on medical residents.
Now that figure is more like $20 million, KU Chancellor Bernadette Gray-Little said Wednesday.
The refund is related to payroll taxes paid back in the 1990s.
The FICA refund has already been plugged into KU’s proposal to build a new medical education building at the KU Medical Center in Kansas City, Kan.
Now that the refund will be larger, Gray-Little said she still would like all of it to go toward that project.
Under KU’s proposal, the building’s estimated cost of $75 million was to be funded with the refund, private dollars and a state appropriation.