EO Tax Journal

Today I have more on the Harvard audit and news that Suffolk University is joining Harvard in being targeted by the IRS.

Harvard Natural Target for IRS Audit, Administrator Says
University is one of 40 institutions of higher education to be audited
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Hopefully the kids at the Harvard Crimson will demand that Harvard make its IRS audit transparent. Aren’t students, as well as other Harvard constituencies, entitled to know what is going on? Speaking of transparency, if exemption applications and Form 990s and 990-Ts are open to public inspection, why are EO audits not open to the public?

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The reported audit of Harvard is a challenge for both Harvard and the IRS. Harvard needs to justify its compensation practices and its many joint ventures, among other issues. The IRS needs to show that is can assemble a first-class team from its Examinations function to audit an exempt organization that will field a team of the country’s best accountants and attorneys. The IRS Office of Chief Counsel needs to support this effort and demonstrate that its staff can compete with the best that the private sector offers. The IRS folks in Washington, from the commissioner on down, need to demonstrate fortitude as Harvard rallies its allies on the Hill and in the Obama Administration.

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1 – Charlotte Observer: “For Too Many Nonprofits, Charity Starts at the Top”

What a reporter for the Charlotte Observer did in the Carolinas should be done by the IRS nationwide. And if the IRS is not applying section 4958 to the cases identified in the article, reprinted infra, when will it ever?

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1 – Sandy Deja Writes Authors of Anything Goes: Approval of Nonprofit Status by the IRS

2 – Law Professor Advocates Creation of New Agency to Regulate Charities
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