The U.S. Department of Education’s (ED) recent Dear Colleague Letter (GEN-24-11) offers critical guidance on the treatment of long-term debt and property, plant, and equipment (PP&E) in calculating an institution’s composite score for financial responsibility under Title IV. This update replaces the 2020 Electronic Announcement (except LTD Q&A 10) and...
Hello friends, Our entire staff at McClintock & Associates hope you, your families, friends and students are well during these trying times. We also want to pass along a message regarding our operations during the COVID-19 outbreak. Like nearly all businesses in the U.S., we are doing our part to practice social...
The Internal Revenue Service requires educational institutions to submit Forms 1098-T each year to report payments received or billed for qualified tuition and related expenses. The Form 1098-T is required to be provided to every student-taxpayer and copies of all Forms 1098-T must be submitted to the IRS to assist...
By Adam Steinfurth, CPA With the release of its Final Rule: Program Integrity and Improvement dated October 30, 2015, the Department of Education repealed §§ 668.8(k)(2) and (k)(3) and made a conforming change in § 668.8(l). These changes affect academic programs which are required to measure a student’s progress in clock...
By David McClintock, CPA At McClintock & Associates, we continually strive to provide top of the line service with added value to our clients. We seek to do this by leveraging our expertise to find and deliver new services and advice. We also look for ways to save our clients’ money....