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.
- Final Report for the 2016 NACUBO-Commonfund Study of Endowments is Now Available
- What Did I Miss? February 28-March 20, 2017
- ACA Repeal Moves Forward as House Republicans Unveil Their Health Care Replacement Plan
- WEBCAST: Legislative Lunchcast: A 30-Minute Washington Update from NACUBO
Friday, March 31, 2017 12:00PM ET
- WEBCAST: What’s Happening in Student Financial Services?
Thursday, April 13, 2017 1:00PM ET
- WEBCAST: How to Budget for Technology That Aligns with Institutional Goals
Thursday, April 20, 2017 1:00PM ET
- WEBCAST: Update to Strategic Financial Analysis for Higher Education, 7th Edition: Corrections, Clarifications, and Consistency of Application
Monday, May 22, 2017 1:00PM ET