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IRS AUDIT
We have recently been notified by the Vice Chancellor for Administration and Finance of the University System of Maryland (“USM”) of USM’s selection by the Internal Revenue Service (“IRS”) for a Coordinated Examination Programs (“CEP”) audit. This audit is described as a comprehensive review of institutional compliance with a wide range of tax requirements, including unrelated business income tax (“UBIT”), non-resident aliens, and fellowship stipends. The audit will primarily include calendar year 2001, but could be expanded to cover other areas or tax years as they deem necessary. At this time, we have not been notified when the IRS will visit our campus. Tom Vogler, UMBC Assistant Vice President for Finance is the point of contact for UMBC faculty and staff during the course of this audit. Further instructions will be forthcoming from Financial Services.



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