IRS releases final report on college and university compliance project

Lynn Russo Whylly's picture

After reviewing 2008 survey data, the Internal Revenue Service audited 34 higher ed institutions. The results of those audits are the basis for a new report, "College and University Compliance Project." Key findings include under-reporting of unrelated business income and failure to adequately comply with the intermediate sanction rules concerning compensation of officers, directors, trustees, and key employees.

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