IRS Is Watching Illinois Community Colleges on Non-Cash Fringe Benefits

One of the more interesting tid-bits that came out at the McHenry County College Board meeting that neither the Northwest Herald nor the Daily Herald covered came from outside auditor Fred Lantz of Sikich, LLP.

He told of an Internal Revenue Service investigation of “employee non-cash benefits.”

He called it “an interesting examination by IRS.”

I’m pretty certain that he said McHenry County College was audited by the Milwaukee office, but that one Illinois community college had undergone a two-week field audit by the Cleveland IRS office.

This brought to mind Huntley School District 158’s “in lieu of” benefits. They were approved without an official vote of the school board.

Can’t find any vote in the school minutes.

And, they were cash benefits,purportedly in lieu of health coverage a spouse didn’t need because of coverage elsewhere.

Hmmmm.


Comments

IRS Is Watching Illinois Community Colleges on Non-Cash Fringe Benefits — 1 Comment

  1. A comment that a previous commenter cannot make because Blogger’s verion 2 prevents it:

    I wanted to comment on this, but I can’t because your site won’t recognize my password anymore.

    But D300 pays this fringe benefit to a number of employees, too.

    Why? I don’t know.

    How about administration just shake their hand and thank them for not adding to the taxpayers burden?

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