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).
- New Overtime Rules Proposed
(July 13, 2015)
- NACUBO Recommends Suspension of 1098-T Penalty Program
(July 13, 2015)
- Lawmakers Ease 1098-T Penalty Enforcement
(June 29, 2015)
- Coats Introduces Bill to Address 1098-T Compliance
(June 1, 2015)
- Higher Ed Community Weighs In on Cadillac Tax
(June 1, 2015)
- Push for Resolution to 1098-T Fines Continues
(April 20, 2015)
- NACUBO Provides Input on Tax Reform
(April 20, 2015)
- IRS Publishes Guidance on "Cadillac" Health Coverage
(March 9, 2015)
- Legislators Take Action on Education, Charitable and Research Incentives
(February 20, 2015)
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 Provides Guidance and Proposes New Forms for Perkins Loans
- GASB Issues Proposal on Split-Interest Agreements
- ED Advances Plans for New Student Loan Repayment Option
- 2015 CAO and CBO Collaborations
August 3-4, 2015
- 2015 Planning and Budgeting Forum
September 28-29, 2015
- 2015 Tax Forum
October 25-27, 2015
- WEBCAST: Developing Your Campus Distance Learning Strategy
Wednesday, August 12, 2015 1:00PM ET
- WEBCAST: Legislative Lunchcast: A 30-Minute Washington Update from NACUBO
Wednesday, September 9, 2015 12:00PM ET
- ON-DEMAND: A Just-in-Time Webcast to Explain FASB’s NFP Reporting Proposal
- ON-DEMAND: Decoding ED's Cash Management Proposal
- ON-DEMAND: Corporate Sponsorships: Getting it Right
- ON-DEMAND: Analytics that Support Planning, Budgeting, and Results
- 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