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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Andy Carrein
Aug 31, 20221 min read
Commission Action Archive
October 2024 (Posted November 19, 2024) June 2024 (Posted July 17, 2024) April 2024 (Posted May 22, 2024) February 2024 (Posted...
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krunion
Aug 1, 20221 min read
Oct 2023 Accreditation Commission Actions
Click here for detail on all actions >> The TRACS Accreditation Commission took the following actions at the October 23-24, 2023,...
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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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Dave Moja
Jun 16, 20222 min read
Does Your Institution have “Laundry Operations?”
Here’s a question we get occasionally: Our school has coin-operated washing machines and dryers are used by resident students to wash...
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Dave Moja
May 8, 20222 min read
Form 8899 and Donated Intellectual Property
Let’s face it. It can be a challenge for many institutions to ensure that the Finance Team is notified regarding every single in-kind or...
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Dave Moja
May 4, 20222 min read
The New Lease Standard, Part I
Starting in 2016, the Financial Accounting Standards Board (FASB) began releasing new “lease rules.” After several “exposure drafts” and...
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