Ideas & Insights

Expanded FAQs further clarify that institutions do not report grant funds paid to students, and students do not include amounts in income.

The American Rescue Plan Act of 2021 extends and expands support for exempt organizations affected by the coronavirus pandemic.

The IRS provides welcome guidance to higher education institutions that made emergency relief grants to students.

The IRS updated taxpayers on its operations status and recognized the delays in processing check payments due on July 15, 2020.

Immediate and retroactive expensing of qualified improvement property creates tax saving opportunities for taxpayers.

The IRS released the electronic Form 1023 and guidance for mandatory use of the online application, effective February 1, 2020

A review of the most common benefits offered to employees, that are contained, as well as those that are not included in the TCJA.

Section 4968 imposes an excise tax on an applicable institution for each taxable year equal to 1.4 percent of the net investment income.

The IRS and the U.S. Department of the Treasury have released Notice 2017-73, outlining proposed guidance on donor advised funds.