Advisory Report 2013-1
Colleges and universities have been receiving notices proposing significant fines for submitting Forms 1098-T with missing or mismatched taxpayer identification numbers. NACUBO Advisory Report 2013-1 provides background information, advice on drafting a waiver request, best practices for collecting Social Security numbers from students, and a sample response letter to the IRS.
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).
- Regional NLRB Rules on Northwestern Football Players
(April 3, 2014)
- Affordable Care Act: Final Rules on Coverage for Adjuncts and Students
(February 18, 2014)
- IRS Announces Changes to 2013 Forms 990 and 990-EZ
(February 7, 2014)
- IRS Waives Penalties for 1098-Ts with Missing or Incorrect TINs
(February 6, 2014)
- Bipartisan Senate Coalition Expresses Support for Charitable Deduction
(January 27, 2014)
- Dozens of Tax Provisions Expire December 31
(December 12, 2013)
- IRS Issues Publication on Section 403(b) Plans
(December 12, 2013)
- Senate Finance Chairman Releases Tax Reform Discussion Drafts
(November 27, 2013)
- Recommendations for Completing Form 1098-T
(November 15, 2013)
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 Tightens New "Gainful Employment" Rules
- GASB Studies Irrevocable Charitable Trusts
- ED Negotiations Focus on Cash Management
- 2014 Higher Education Accounting Forum
April 27-29, 2014
- ON-DEMAND: Understanding the Results of the 2013 NACUBO-Commonfund Study of Endowments, and a Look to 2014 and Beyond
- ON-DEMAND: How Behavioral Changes Helped Cut Energy Usage in Half
- ON-DEMAND: Developing a Market-Informed Approach to Tuition Pricing
- ON-DEMAND: Responsibility Center Management: The Process Necessary to Complete a Successful Implementation
- ON-DEMAND: OD: Responsibility Center Management: How Innovations Have Changed the Nature of RCM
- 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