This online event for intermediate to advanced-level campus tax professionals offers the latest information on issues and best practices in higher education tax compliance and administration. This forum serves as both an annual update and future outlook. Participants hear and engage in discussions on timely subjects impacting the college and university tax community.
Past forums have addressed issues such as IRS audits, tax management approaches, Form 990 preparation, unrelated business income issues, charitable gifts, executive compensation, treatment of fringe benefits, scholarships and fellowships, reporting and withholding for nonresident aliens, mitigating tax risks of international activities, bonds compliance, and athletics.
What You Will Learn
NACUBO’s professional development programs are designed to deliver the skills, concepts, and best practices for success to individuals in the business of higher education. The following course information is provided to help you determine the best learning experience to meet your needs
Demonstrate an understanding of guidance for managing tax compliance
Determine how tax reporting requirements and regulations may impact your institution
Identify tips from fellow campus tax professionals to share with peers on campus
Who Should Attend
No prerequisites and/or advance preparation required.
Estimated 12 CPE Credits
NACUBO is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.nasbaregistry.org.
Colleges and universities have long used a variety of expense allocation methods for allocating expenses to unrelated
business income (“UBI”) streams. The often-cited IRS Report on Colleges and Universities from 2013 stated that on nearly 60% of the Form 990-Ts examined, colleges and universities had misallocated expenses to offset UBI for specific activities. Historically, the IRS has not been eager to litigate the reasonableness of an expense allocation method due to the absence of guidance…perhaps until now.
In this session presenters will review the various types of rental activities a college may have, the process for finding where on campus those rentals may be occurring, contractual needs and whether they are taxable as UBI. Panelists will share best practices, tools and tips and engage the attendees with a robust Q&A.
This session will discuss international tax issues of concern for many schools: remote employees, students, and contractors; treaties for outbound people; and foreign activity disclosures. We will get into the details of potential tax implications (both individual and corporate) with having employees delivering services in foreign locations and also strategies of minimizing risk for both employees and employers. We will provide some a set of risk considerations to assist you with a means of self-assessment and identification of potential risk factors.
During this special, interactive general session, engage in a facilitated conversation about how you can translate the information shared during forum sessions into action at your institution. You’ll have time to explore how to apply lessons from this event to your own campus situations. You'll leave with valuable insights and practical tips to strengthen your institution's compliance and management of tax issues.
Universities make a wide variety of payments to employees, service providers and research participants. This presentation will focus on issues around employee and non-student payments, and increase your issue-spotting skills for determining which payments are reportable to the IRS on Forms W-2, 1099 or 1099-MISC.
Colleges and universities are afforded a special exception to reporting unrelated debt-financed income (“UDFI”) as unrelated business income (“UBI”) if certain requirements are met. Debt-financed property directly acquired by an institution or through a partnership investment brings tax challenges to any tax-exempt entity, and the rules governing the exception provided to qualified organizations adds additional complexity. Institutions have evolved significantly
while the regulations and tax code applicable to this area have remained relatively unchanged. This presentation will provide strategies for discovering and analyzing the tax issues related to debt-financing, along with information and resources for proper documentation and audit defense.
Hear timely updates from the nation’s capital. Examine the COVID-19 relief funds appropriated to colleges and universities in the Higher Education Emergency Relief Fund (HEERF) and discuss the latest guidance from the
Department of Education concerning fund reporting requirements, allowable uses, tax implications and more. Other advocacy action items for the higher education community, and notable action within Congress and the federal agencies will also be discussed.
Session Duration: 60 minutes; 12:00 - 1:00pm ET
Continuing Issues with Employees Working Remotely Post COVID-19
The pandemic-related surge of remote working has raised questions of whether employee withholding should be changed to new work locations. While some states have issued withholding guidance for their remote workforce during
the shutdown, others have not or are requiring employers to withhold tax for employees working from temporary locations. This session will provide insight to assist institutions with addressing these ongoing issues.