Summary of Federal Laws

 

Tax

 

 The Internal Revenue Code (I.R.C.)

 

Tax Issues Related to Employment

 

 Wages 

 Withholding
 Independent Contractor
 Clergy Housing Allowance Clarification Act 
 Cafeteria Plans
 Fringe Benefits

 Taxpayer Identifying Numbers and Requirements to Furnish to the IRS

 Retirement and Other Deferred Compensation Arrangements
 The Social Security Act (The Federal Old Age and Survivors Insurance Trust Fund and Federal     Disability and  Insurance Trust Fund, and the Federal Insurance Contributions Act (FICA))
 The Federal Unemployment Tax Act (FUTA)
 Royalty Payments to Faculty

 

Tax Issues Related to Students

 

  Tax Credits and Tax Deductions
  Tuition Programs Under 117, 127 and 132 of the Internal Revenue Code
  Tuition Payment Credit Reporting Requirements
  Student Loan Interest Deduction
  Student Loan Interest Reporting
  Scholarships and Fellowships (I.R.C. § 117)
  Scholarships and Fellowships Paid to Foreign Students and Scholars
  Qualified Tuition Reductions

 

Tax Issues Related to Donations

 

  Substantiation and Disclosure Provisions
  Quid Pro Quo Rules
  Donee Responsibilities with Respect to Charitable Contributions

  Intellectual Property Donations: American Jobs Creation Act of 2004
  Miscellaneous Tax Documents related to Donations

Miscellaneous Tax Issues

 

  Legislative and Political Activities
  Intermediate Sanctions for Excess Benefits
  Research and Contracts
  Unrelated Business Income Tax
  Debt Structure/Unrelated Use of Bond Financed Facilities
  Form 990 and Public Disclosure Requirements
  Low Income Taxpayer Clinics
  Good Governance and Conflict of Interest Policy 
  Foreign Bank Accounts and Filing Requirements

links updated 8/11/08 rab