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Higher Ed in the News

IRS reviewing college and university business income, executive compensation

May 10, 2010

The Internal Revenue Service is conducting reviews of individual colleges and universities -- focusing mostly on issues related to payment (or non-payment) of tax on unrelated business income and executive compensation.

In an interim report released Friday, the IRS offered the first official look at the information the tax agency has collected from a questionnaire it sent to colleges in 2008 to gauge their compliance with tax laws and identify possible areas for further examination and enforcement.

The IRS's interim report includes data for a total of 344 colleges, 177 private and 167 public.

Compensation of universities' leaders and other highly paid employees seemed to intrigue, and potentially trouble, the IRS.

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