With more and more University Athletic Departments reaching $60 Million, $70 Million, $80 Million and even $100 Million plus in revenue on a yearly basis, believe the below will be the norm (i.e. IRS going after those that are bring in the $$$$) on a much more regular basis.


From link below:

(Besides UCF) Two other large Florida universities — the University of Florida in Gainesville and University of Miami — also were selected, as were Harvard, Purdue and Yeshiva universities and the University of Georgia, according to officials at those schools.

The IRS could not be reached for comment. But it recently completed its audit of UF and presented the college with a bill for almost $77,000 for back taxes, UF records show.

Yeshiva, a small private school in New York, resolved its audit by paying $186,000, a college spokesman said.

See link for complete article
http://www.orlandosentinel.com/features/...4950.story