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  1. IRS Announcement 2016-17: Limited Penalty Relief for Filers of Form 1098-T, Tuition Statement
  2. Register for IRS May 12 webinar: Reporting Compensation on Form 990 and Form 990-EZ
  3. Register for IRS May 19 webinar: Understanding the Universal Availability Rules in a 403(b) Retirement Plan

1.  IRS Announcement 2016-17: Limited Penalty Relief for Filers of Form 1098-T, Tuition Statement

The IRS will not impose penalties under section 6721 or 6722 on eligible educational institutions with respect to Forms 1098-T, Tuition Statement, required to be filed and furnished for the 2016 calendar year under section 6050S if the institution reports the aggregate amount billed for qualified tuition and related expenses on Form 1098-T instead of the aggregate amount of payments received as required by section 212 of the Protecting Americans from Tax Hikes Act of 2015.

Read Announcement 2016-17.


2.  Register for IRS May 12 webinar: Reporting Compensation on Form 990 and Form 990-EZ

1 p.m., ET

Learn about:

  • How to report compensation
  • How to complete Form 990 and Form 990-EZ
  • What has to be reported
  • Other compensation
  • Exceptions
  • Highest compensated employees

Register for this webinar.


3.  Register for IRS May 19 webinar: Understanding the Universal Availability Rules in a 403(b) Retirement Plan

2 p.m. ET

Learn about:

  • Basic universal availability rules
  • Treatment of adjunct faculty at universities
  • Treatment of part-time, seasonal, and temporary employees
  • The 20 hours per week and the 1,000 hours rules
  • Controlled group situations and concerns
  • Mayo ruling on medical residents and its impact
  • The required notice to employees each year
  • Ways to find, fix, and avoid universal availability errors

Register for this event. You’ll use the same link to attend the event.

[View source.]

 

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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