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Recent 2016-1 Winter Newsletter Articles

We Forgot To File 1098-Ts - What Do We Do?

We Forgot To File 1098-Ts – What Do We Do?

By Theresa Berry, CPA December 20, 2016

The Internal Revenue Service requires educational institutions to submit Forms 1098-T each year to report payments received or billed for qualified tuition and related expenses. The Form 1098-T is required to be provided to every student-taxpayer and copies of all Forms 1098-T must be submitted to the IRS to assist…

Changes to Clock-to-Credit Requirements

By Adam Steinfurth, CPA December 20, 2016

By Adam Steinfurth, CPA With the release of its Final Rule: Program Integrity and Improvement dated October 30, 2015, the Department of Education repealed §§ 668.8(k)(2) and (k)(3) and made a conforming change in § 668.8(l). These changes affect academic programs which are required to measure a student’s progress in…