A good allocation methodology is not one that never changes. It is one that continues to faithfully reflect how the organization uses its resources to advance its mission.

Colleges and universities depend on federal and state funding to support student financial aid, academic programs, research, workforce development, public service, facilities, and institutional initiatives. These resources expand access and help institutions pursue projects that may not be possible with tuition and other operating revenue alone.

The IRS's recent FAQ update provides important guidance as employers and taxpayers prepare for the new qualified overtime deduction and the first year of mandatory separate reporting.

The IRS is now beginning to optimize electronic access and delivery to best assist taxpayers. These latest updates represent a significant step forward.

Eight Questions Leadership Should Ask Before Trusting the WIP

Taxpayers and employers should review their records, policies, and contribution or leave program designs in light of the amended statutory rules and the latest available IRS guidance.