by Dave Moja | Nov 7, 2018 | Tax Tips |
ISSUE The recently-released 2018 Draft Form 990-T instructions give guidance for institutions filing the form simply to pay the new “parking tax.” How does that work with the 2017 Form 990-T? SITUATION Marathon Bible College (MBC) is a private college exempt...
by Dave Moja | Oct 31, 2018 | Tax Tips |
ISSUE With all the hubbub over “Box 1 only” filing for Form 1098-T, don’t forget about the rules about your procedures for obtaining TIN’s from your students – and reporting or showing reasonable cause for not reporting. SITUATION Troas Bible College (TBC) is a...
by Dave Moja | Oct 24, 2018 | Tax Tips |
ISSUE The new Internal Revenue Code Section 512(a)(6) requires “silo-ing” of unrelated business activities. For those institutions that receive K-1’s from partnerships, how will the silo-ing work? SITUATION Denali Christian College (DCC) is a private college exempt...
by Dave Moja | Oct 17, 2018 | Tax Tips |
ISSUE The Parking and UBIT issue continues to be at the forefront of many of our minds. Maybe it’s time we start looking at potential streamlined solutions. SITUATION Idaho Bible College and Seminary (IBCS) is a private college exempt under Internal Revenue...
by Dave Moja | Oct 3, 2018 | Tax Tips |
ISSUE It appears that the IRS may be close to providing guidance on the “pay taxes on your costs of employee parking” provision in I.R.C. Section 512(a)(7) – and it may include penalty relief. SITUATION Marathon Bible College (MBC) is a private...
