by Dave Moja | May 8, 2019 | Tax Tips |
ISSUE So far, Congress has not mandated eFiling for Form 990 returns. It continues to be talked about and recommended. Your institution should consider eFiling as there are advantages. SITUATION Saltwater Christian College (SCC) is a private college exempt...
by Dave Moja | May 1, 2019 | Tax Tips |
ISSUEFor institutions with more than one unrelated business activity – don’t count “parking/transportation fringes” – there is a new reporting regime for Form 990-T that involves a NEW Schedule M (Form 990-T). SITUATIONDenali Christian College (DCC) is a private...
by Dave Moja | Apr 24, 2019 | Tax Tips |
ISSUE At this point, if your institution has any parking spots that are reserved for employees, you will have an “increase in UBTI under § 512(a)(7)” and likely be required to file Form 990-T and pay some tax – even if you do not have any unrelated business...
by Dave Moja | Apr 17, 2019 | Tax Tips |
ISSUE Many of our institutions have established retirement plans under I.R.C. Section 403(b). Back in 2007, Treasury and the IRS issued final regulations that required a re-write (or original writing) of many institutions’ retirement plan documents. Recently,...
by Dave Moja | Apr 10, 2019 | Tax Tips |
ISSUE We continue to hear a lot about “cybersecurity.” Does your institution have a plan in place? The IRS has some interesting suggestions that they have released on this topic. SITUATION Troas Bible College (TBC) is a private college exempt under Internal...
by Dave Moja | Apr 3, 2019 | Tax Tips |
ISSUE The “Tax Cuts and Jobs Act” suspended the ability for an employer to pay for or reimburse moving expenses on a non-taxable basis for all employees (with the exception of some members of the U.S. Armed Forces on active duty). Accordingly, there may have been...
