IRS Issues Guidance on Obtaining E-Filing Waivers
November 17, 2005
IRS Notice 2005-88 sets forth steps that colleges and universities can take to seek waivers from electronic filing, which is required for taxable years ending on or after December 31, 2005. Generally, the waiver will be available to organizations that are unable to meet the electronic filing requirements due to technology constraints or financial considerations. The notice also outlines the specific steps taxpayers should follow when requesting waivers from the IRS.
Electronic filing of information returns by large tax-exempt organizations like colleges and universities is required by regulations issued last January. For tax year 2005 returns that are due in 2006, affected tax-exempt organizations are those with $100 million or more in assets that file 250 or more returns a year.
Electronic filing has been available to tax-exempt organizations since 2004. So far this year, the IRS has received about 3,600 electronically filed information returns from tax-exempt organizations.
- Tuition Increases Slow, While Student Loan Borrowing Declines, College Board Reports
- IRS Response to NACUBO on 1098-T Penalties Offers No Relief
- IRS Publishes Final Rules on Overpayments of Arbitrage Rebate on Tax-Exempt Bonds
- 2015 Intermediate Accounting and Reporting - Winter
January 22-23, 2015
- 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