Advisory Report 2014-1
Collecting Taxpayer Identification Numbers for Form 1098-T Reporting
After the IRS sent notices of proposed fines to hundreds of campuses in 2013, and again this year, institutions have focused more on the best ways to ensure compliance. NACUBO Advisory Report 2014-1, Collecting Taxpayer Identification Numbers for Form 1098-T Reporting, provides advice on best practices, relevant regulations, and model substitute W-9S forms. The advice was developed by a joint subcommittee of NACUBO's Student Financial Services and Tax Councils, with assistance from representatives from the American Association of Collegiate Registrars and Admissions Officers.
Stay on top of the many rules and policy developments affecting higher education tax administration and compliance, and follow NACUBO's advocacy efforts on tax matters.
NACUBO Connections: Discuss tax issues and find solutions on the Taxlist
If you're not already a subscriber to NACUBO's discussion group of more than 600 campus tax professionals, join the Taxlist eGroup. (Only employees of higher education institutions may participate).
- IRS Publishes Final Rules on Overpayments of Arbitrage Rebate on Tax-Exempt Bonds
(November 14, 2014)
- IRS Response to NACUBO on 1098-T Penalties Offers No Relief
(November 13, 2014)
- IRS Expands Guidance on Private Business Use of Bond-Financed Facilities
(October 30, 2014)
- NACUBO Provides Advice on Collecting Student TINs
(October 1, 2014)
- Workshop to Offer Deeper Dive on Bond Compliance Issues
(September 19, 2014)
- NACUBO Presses IRS for Relief from 1098-T Penalties
(September 19, 2014)
- IRS Again Issues 1098-T Fine Notices
(August 22, 2014)
- Ways and Means Adopts Permanent Charitable Provisions
(June 2, 2014)
A Guide to Federal Tax Issues for Colleges and Universities
This subscripton service gives you one reliable place to turn for up-to-date information on IRS compliance. You'll save valuable time and resources using our sample forms, checklists, and other practical tools … and you'll be able to structure your IRS compliance correctly, reducing your institution's potential liability. The service includes online access to guidance and Web tools, plus monthly newsletters for one year.
- The IRS has issued a new edition of Publication 1771, Charitable Contributions -- Substantiation and Disclosure Requirements
- NACUBO and AGB Release Analysis of IRS Compliance Questionnaire Responses - Late in 2008 the IRS sent a compliance questionnaire to approximately 400 colleges and universities, focused on governance practices, endowment management, executive compensation, and activities that generate unrelated business income. NACUBO partnered with the Association of Governing Boards of Universities and Colleges (AGB) on a parallel analysis of 146 survey responses provided voluntarily by institutions.
- IRS Provides Relief for Sponsors of 403(b)
- Checklist to Prepare for the Form 990.
- New Electronic and Magnetic Media Filing Requirements Rev. Proc. 2008-30
- Publication 970,Tax Benefits for Education
- A Guide to Federal Tax Issues for Colleges and Universities is an online subscription service that gives you one authoritative source to turn to for up-to-date information on IRS compliance.
- Visit the Employment Tax Page for news and resources on employment tax issues, including student FICA, fringe benefits, and tax issues for college presidents.
- Education Tax Credits Resource Page provides source documents, IRS rules, forms, and publications related to 1098-T reporting
- ED Releases College Ratings System Framework
- Recap: Top 10 Federal Policy Changes in 2014
- Obama Proposes Free Community College
- 2015 Endowment and Debt Management Forum
February 4-6, 2015
- 2015 Unrelated Business Income Tax
February 25-27, 2015
- ON-DEMAND: How to Build, Develop, and Support a Compliance Program at Your Institution
- ON-DEMAND: Strategic Tuition Assessment and Tuition Restructuring
- ON-DEMAND: Are Shared Services Right for Your Organization – The KU Journey
- ON-DEMAND: VIRTUAL: 2014 Annual Meeting
- ON-DEMAND: VIRTUAL: Student Financial Services Conference
- ON-DEMAND: VIRTUAL: Higher Education Accounting Forum
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis