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Tax

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).

News

• 2011 Form 990 and Instructions Adopt Changes in Areas of Joint Ventures, Investments, and Reporting of Compensation
  (January 26, 2012)

• FAQ on Form 1098-T Reporting
  (January 12, 2012)

• IRS Guidance for U.S. Citizens Working Abroad
  (January 3, 2012)

• IRS Corrects Auditors’ Misinterpretation of 1098-T Requirements
  (November 21, 2011)

• Treasury Report Finds Estimated $3.2 Billion in Erroneous Education Tax Credits
  (October 24, 2011)

• 1098-T Reporting Season Reminders
  (October 20, 2011)

• IRS Launches Worker Classification Compliance Program
  (October 5, 2011)

• IRS Clarifies Tax Treatment of Cell Phones
  (September 22, 2011)

• IRS Issues Final Form 990 Rules
  (September 9, 2011)

• NACUBO Makes Recommendations to IRS on Form 990
  (August 10, 2011)

• More...

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A Guide to Federal Tax Issues for Colleges and Universities

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Resources

• 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 New 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