IRS Expands FAQs to Address Higher Education Emergency Grants Used to Discharge Student Balances
The IRS has updated informal guidance on the tax treatment of pandemic-related emergency grants to address when colleges and universities use institutional grant monies to cancel or discharge balances on student accounts.
Characterizing Student Athletes as Employees: It’s Complicated
Alexander Reid, partner at the law firm BakerHostetler, discusses issues raised by a memo from the National Labor Relations Board General Counsel, which proposed to classify some college athletes as employees.
IRS Seeks Comments on New Energy Credits
The Department of the Treasury and the IRS have issued six notices asking for public comments on various aspects of extensions and enhancements of energy tax benefits enacted in the Inflation Reduction Act. The credits offer new opportunities for colleges and universities to invest in renewable energy.