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ERIC Number: ED118020
Record Type: Non-Journal
Publication Date: 1975-Jun-27
Reference Count: N/A
Preparing for IRS Audits of Colleges and Universities. Internal Revenue Service. NACUBO Special Report 75-5.
Myers, John Holt
More college and universities are being subject to audit by the Internal Revenue Service (IRS). When an institution is selected for audit, it will be notified, probably in writing, and contacted by a representative of the IRS, who will make arrangements for a preliminary visit to discuss the procedures to be followed. Prior to the first meeting with the examiner, counsel should be advised and the business office alerted. A single individual should be chosen to act as liaison officer with the IRS. There are three kinds of audits to which the institutions may be subjected: (1) a general audit, (2) payroll audit, or (3) a team audit. In anticipation of an audit, an institution should make a special examination in two areas: (1) unrelated trade or business, and (2) withholding. (Author/KE)
Descriptors: Administrator Guides, Colleges, Evaluation Methods, Examiners, Higher Education, Interviews, Money Management, Universities
National Association of College and University Business Officers, One Dupont Circle, Suite 510, Washington, D.C. 20036 (free)
Publication Type: Reports - Research
Education Level: N/A
Authoring Institution: National Association of College and University Business Officers, Washington, DC.