Qualified Charitable Deductions (IRA) - **DEVELOPMENT DIRECTOR ALERT**
There is a oft-times overlooked fundraising opportunity that your institution should be aware of: The “IRA Qualified Charitable...
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Dave Moja
Aug 163 min read
TWO ANNUAL AUDIT REPORTING “TRAPS” INSTITUTIONS SHOULD BE AWARE OF
The U.S. Department of Education (ED) has announced that the “threshold” for the amount of Federal funds that will require a “Uniform...
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Barry Griffith
Jul 263 min read
Are remote distance learning faculty independent contractors?
The following blog post was generated by AI (ChatGPT) and has been reviewed by TRACS Staff for general accuracy and applicability to...
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Barry Griffith
Jul 263 min read
Can faculty at colleges be considered independent contractors?
The following blog post was generated by AI (ChatGPT) and has been reviewed by TRACS Staff for general accuracy and applicability to...
120 views0 comments
Barry Griffith
Jul 262 min read
What are the best practices in Higher Ed concerning withholding transcripts for students who still owe the institution?
The following blog post was generated by AI (ChatGPT 4.0) and reviewed by TRACS Staff for general accuracy and applicability to TRACS...
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Dave Moja
Jul 23 min read
Form 1099-NEC
Have you heard? A few years ago the IRS “updated” the annual filing/reporting process for “independent workers.” In the past,...
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Dave Moja
Apr 43 min read
Donated Labor or Services – Tax Deductible?
As we move into the final stretch toward Tax Day (April 15th), here is a question we receive often – is the value donated services/labor...
247 views0 comments
Dave Moja
Nov 17, 20233 min read
New Money – Part 2: Government Grants (Grants.gov)
This segment of TRACS: Finance Lab is the second of a three-part series on interesting opportunities for grants, credits, and refunds of...
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Dave Moja
Oct 23, 20233 min read
New Money – Part 1: IRA Credits
This segment of TRACS: Finance Lab is the first of a three-part series on interesting opportunities for grants, credits, and refunds of...
28 views0 comments
![[URGENT UPDATE] IRS Issues “Immediate Stop to New Employee Retention Credit Processing”](https://static.wixstatic.com/media/a8a4b6_4443edab145a4a299e086991c409c7d9~mv2.jpg/v1/fill/w_1080,h_811,fp_0.50_0.50,q_90,enc_auto/a8a4b6_4443edab145a4a299e086991c409c7d9~mv2.jpg)
Dave Moja
Oct 6, 20234 min read
[URGENT UPDATE] IRS Issues “Immediate Stop to New Employee Retention Credit Processing”
In an announcement last week, the IRS has implemented an “immediate stop to new Employee Retention Credit [ERC] processing amid surge of...
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Dave Moja
Sep 15, 20234 min read
Dept. of Education: Third-Party Servicer Changes
Beginning with a February 15, 2023 “Dear Colleague” letter (GEN-23-03), the Department of Education (ED) announced changes to its rules...
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Dave Moja
Jul 12, 20232 min read
Have You Heard About Form 8940?
Form 8940, Request for Miscellaneous Determination, has been around since 2011 and has always been a wonderful option for organizations...
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Dave Moja
Jun 7, 20233 min read
New Gramm Leach Bliley Act Stipulations - 2023
For the past several years, institutions that participated in Title IV programs were subject to the Gramm Leach Bliley Act (GLBA) which...
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Dave Moja
Mar 1, 20233 min read
Form 1098-T and the “Alternative”
Form 1098-T – which is due to students by January 31 each year and due to the IRS by February 28 – watch carefully for eFiling...
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Dave Moja
Jan 31, 20233 min read
Crypto Currency – What the IRS has to Say
Digital assets continue to be an area of focus for higher education institutions. From how to value those items to wild fluctuations in...
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Dave Moja
Jan 15, 20234 min read
Isakson/Roe Act Section 1015 – V.A. Funding Gone?
The Isakson/Roe Act of 2020 made changes to the rules for institutions who provide Veterans Administration benefits (i.e. the G.I. Bill)...
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Dave Moja
Nov 30, 20223 min read
Possible “Clawbacks” from Bankrupt Donors?
As we move past Thanksgiving and “Giving Tuesday” and move into the Christmas and year-end giving season, it might be an interesting time...
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Dave Moja
Nov 15, 20223 min read
Thanksgiving Turkey “Coupons/Vouchers” for Employees
At this wonderful time of year, we are often asked about whether the value of a turkey, ham, or other item of merchandise purchased by an...
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Dave Moja
Sep 15, 20222 min read
Penalty Relief for 2019 and 2020 Form 990-T Filings
The Coronavirus “Era” (that we are still not through) has hit many of us in different ways. Through the negatives, we have learned much...
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Dave Moja
Jul 15, 20222 min read
IRS Changes Mileage Rates for Second Half of 2022
As they do annually, in late 2021, the IRS released the standard mileage rates for 2022. Prior to the beginning of any given calendar...
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