Goin’ Fishin’ with the IRS

Observations, Decisions, and Consequences of the IRS Compliance Questionnaire for Colleges and Universities

February 2, 2009

On January 29, 2009, McGuireWoods lawyers Robert Gordon Chambers, Michele A. W. McKinnon, J. Michael Wilson and Brian C. Bernhardt headed a panel discussion of the issues raised by the IRS Compliance Questionnaire for Colleges and Universities, including:

  • Understanding the scope and detail of the questionnaire, each of its parts, and each of the questions.
  • Understanding the importance of consistency, both internal to questionnaire answers and external to other documents.
  • Using an Addendum to provide further explanation where appropriate.
  • Knowing that answers on the questionnaire will serve as the basis for future examinations throughout the industry, not only with respect to the responding institutions.
  • Taking advantage of the questionnaire to institute, or review the application of, best practices.

Audio download: MP3 (5mb)

For your reference please see our Jan. 21, 2009 Compensation for Tax-Exempt Organizations news item on this topic. You can also access online copies of the sample Compliance Questionnaire for Colleges and Universities and the instructions.