The Tax Law of Colleges and Universities / Edition 3by Bertrand M. Harding Jr.
Pub. Date: 10/26/2007
Institutions of higher education are under increasing scrutiny from the Internal Revenue Service for the wide spectrum of unrelated business income they can generate, from real estate income to football ticket sales. From one of the leading attorneys in this special field, here is a comprehensive guide to the tax rules these institutions face. Also includes thorough coverage of employment taxes, fringe benefits, lobbying and other political activities, plus strategies for handling an IRS audit.
- Publication date:
- Wiley Nonprofit Law, Finance and Management Series, #223
- Edition description:
- Product dimensions:
- 7.32(w) x 10.04(h) x 1.64(d)
Table of ContentsPreface.
Impact of the 2001 Tax Bill.
Chapter One: Overview of College and University Taxation.
1.1 Historical Overview.
1.2 Tax Resource Material.
1.3 Description of Legal Authorities.
Chapter Two: Unrelated Business Income.
2.1 Introduction-General Principles of the Unrelated Business Income Tax.
2.2 Statutory Exceptions to Unrelated Business Income.
2.3 Income from Controlled Organizations.
2.4 Foreign Insurance Income.
2.5 Unrelated Debt-Financed Income.
2.6 Allowable Deductions.
Chapter Three: Common Activities Conducted by Colleges and Universities That Raise Unrelated Business Income Tax Concerns.
3.1 Bookstore Operations.
3.2 Dormitory Rentals.
3.3 Advertising Income.
3.4 Corporate Sponsorship Payments.
3.5 Hotel and Restaurant Operations.
3.6 Travel Tours.
3.7 Operation of Parking Lots.
3.8 Participation in Partnerships.
3.9 Professional Entertainment Events.
3.10 Use of Recreational Facilities by General Public.
3.11 Summer Sports Camps.
3.12 Publishing Activities.
3.13 Affinity Credit Cards.
3.14 Sale, Rental, or Exchange of Mailing Lists.
3.15 Concession Sales.
3.16 Catering Activities.
3.17 Treatment of Alumni.
3.18 Conferences, Meetings, and Training Programs.
3.19 Athletic Events/Television and Broadcast Rights.
3.20 Retirement Homes.
3.21 Intellectual Property Issues.
3.22 Internet Fundraising and Advertising Issues.
3.23 Ownership of S Corporation Stock.
3.24 College and University Examination Guidelines.
Chapter Four: Employment Taxes.
4.2 Employee versus Independent Contractor Classification.
4.3 Social Security TaxExemption for Students.
4.4 The Nonresident Alien Exception.
4.5 State College and University Employees.
4.6 Classification of Termination, Early Retirement, Royalty, and Settlement Payments.
4.7 College and University Examination Guidelines.
Chapter Five: Fringe Benefits.
5.2 The Section 132 Rules.
5.3 Fringe Benefits Typically Provided by Colleges and Universities.
5.4 College and University Examination Guidelines.
Chapter Six: Charitable Contribution Deductions.
6.2 Bona Fide Transfer of Money or Property.
6.3 Permissible Donees.
6.4 No Consideration Received in Return.
6.5 The Substantiation and Disclosure Requirements.
6.6 Bargain Sales.
6.7 Gifts of Partial Interests.
6.8 Contributions Made in Trust.
6.9 Gift Annuities.
6.10 Charitable Split-Dollar Life Insurance.
6.11 College and University Examination Guidelines.
Chapter Seven: Scholarships and Fellowships.
7.2 The Section 117 Rules.
7.3 Withholding and Reporting on Scholarship/Fellowship Payments.
7.4 Qualified Tuition Reductions.
7.5 Section 117(c)-Distinguishing Between Scholarship/Fellowship Grants and Compensation.
7.6 Athletic Scholarships.
7.7 College and University Examination Guidelines.
Chapter Eight: Income Tax Withholding and Reporting on Payments to Nonresident Aliens.
8.2 Determining U.S. Tax Residency.
8.3 Determining U.S. Taxable Income.
8.4 Withholding Agent.
8.5 U.S. Tax Withholding Obligations.
8.6 Travel and Living Expense Reimbursements.
8.7 U.S. Tax Reporting Obligations.
8.8 Income Tax Treaties.
8.9 Foreign Athletes: The NCAA Versus the IRS.
8.10 HonorariumPaym ent Issues.
8.11 Voluntary Compliance Program for Nonresident Alien Tax Issues.
Chapter Nine: Special Issues and Problems.
9.1 Exemption Issues.
9.2 Related Entities.
9.3 Section 403(b) and Other Retirement Plans.
9.4 Tax-Exempt Bonds.
9.5 Conducting Activities Overseas.
9.6 Form 990 Filing Issues.
9.7 State Colleges and Universities.
9.8 Education Tax Incentives.
Chapter Ten: IRS Audits of Colleges and Universities.
10.1 Types of Audits.
10.2 The Initial Contact.
10.3 The Examination.
10.4 Presentation of IRS Findings.
10.5 Conclusion of the Audit.
10.6 Extending the Statute of Limitations.
10.7 Closing Agreements.
10.8 Technical Advice Procedures.
10.9 Tips on Preparing for, and Participating in, an Audit.
10.10 The Appeals Office Process.
10.11 Beyond the Appeals Office-Litigation of the Tax Case.
10.12 The Attorney-Client and Work Product Privileges.
Table of IRS Revenue Rulings.
Table of IRS Revenue Procedures.
Table of IRS General Counsel Memoranda.
Table of IRS Private Letter Rulings.
Table of IRS Technical Advice Memoranda.
Table of Cases.
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