IEEE Industrial Electronics Society
IEEE Industrial Electronics Society
Travel grants are taxable income to the recipient unless the recipient provides IEEE with original travel receipts that equal or exceed the grant amount. Therefore, to comply with tax regulations, IEEE requires all travel grant recipients to complete either a W-8 or W-9 Form.
Research grants may qualify as a tax free payment if it meets the requirements of Scholarships and Fellowships.
Individuals receiving payment from IEEE must complete either a W-8 Form or a W-9 Form. The W-9 Form is completed by individuals who have either a U.S. Social Security Number or a U.S. Employer Identification Number. The W-8 Form is completed by individuals who are not U.S. citizens. These individuals may have a U.S. Taxpayer Identification Number.
Prizes and Awards are includible in the gross income of the recipient unless they are for religious, charitable, scientific, educational, artistic, literary, or civic achievement and the payer issues the check in the name of a governmental unit or a charity at the recipient’s request. When processing an IEEE Award, it would be a good idea to notify the awardee that his or her award will be taxable income unless he or she requests that payment be made to a governmental unit or a charity.
IEEE is required to issue an IRS Form 1099MISC to individuals paid amounts representing a Prize or Award. 1099s are not required when the individuals assigns the payment of the prize or award to a charity or governmental unit. IEEE Conferences must provide the IEEE Accounts Payable Department with the names, social security numbers, addresses, and amounts paid for all individuals issued checks for prizes and awards. Fax this to 732-562-5455 by 10 January for payments paid the previous year.
In the United States, qualified Scholarships and Fellowships are tax-free to the recipient if the amounts are used for "qualified tuition and related expenses" which include studies or research which further the education and training of the recipient. The recipient must be a candidate for a degree at an accredited college or university. When paying an individual a qualified Scholarship or Fellowship, you must require in writing that the recipient use the funds for payment of "qualified tuition and related expenses" in pursuit of study or research at an accredited college or university. Room and board do not qualify as qualified tuition and related expenses. The IRS recommends that the recipient be formally advised in writing that "scholarships and fellowships are included in income to the extent that they exceed qualified tuition and related expenses". However, the recipient is responsible for determining whether the grant was used for those expenses.
IEEE is not required to issue IRS Form 1099MISC for qualified Scholarships and Fellowships.
All reimbursements of employee moving and relocation expenses must be paid through the payroll department. IEEE must withhold federal income tax, social security tax, Medicare tax, and state income tax from reimbursements that are not excluded from income.
Moving expense reimbursements are excluded from income and not subject to withholding when: 1) they would be deductible by the employee on their federal income tax return; 2) the employee did not deduct the expenses in a prior year and; 3) the employee submitted receipts to IEEE substantiating the deductible expenses. These reimbursements are fringe benefits excludable from the employee's income as qualified moving expense reimbursements. The payroll department should report these reimbursements in box 13 of Form W-2.To qualify as deductible moving expenses: 1) the expenses must have incurred within one year from the date of employment at the new location; 2) the new job location is at least 50 miles farther from the employee's home than the employee's old job location; if the employee had no former principal place of work, the new job location must be at least 50 miles from the employee’s old residence; 3) the employee must work full time for at least 39 weeks during the first 12 months at the new job location; 4) the moving expenses must be reasonable and include only expenses for moving household goods and personal effects from the former residence to the new residence (including in-transit storage expenses) and traveling (including lodging) to the new home (not including meals).
The employee should submit receipts for item 4) above to the Human Resources Department. The total of these receipts will be excluded from wages. Any difference between the total check amount and total receipts amount will be taxable wages. HR will submit a check request with backup and receipts to the Payroll Department. The IEEE payroll department must complete Form 4782 and provide it to the employee by January 31st. Reimbursements made by IEEE that qualify as excludable fringes must be reported in box 13 of the 2000 Form W-2; code "P" is to be used to identify the nontaxable reimbursements in box 13. Reimbursements that do not qualify as excludable fringes are to be reported in box 1 as income from wages and are subject to withholding. This includes withholding of income, social security, Medicare tax, and state income tax.
A donor is not allowed to take a charitable deduction for a single donation of $250.00 or more unless he or she has obtained a receipt from the charitable organization. Separate payments are regarded as independent contributions and are not combined for purposes of measuring the $250 threshold. The Institute of Electrical and Electronics Engineers Inc. (IEEE) is a charitable organization as described in Section 501(c)(3) of the Internal Revenue Code and must issue receipts when required.The receipt can be in the form of a letter or a postcard. IEEE letterhead is recommended. The full legal name of the IEEE, "Institute of Electrical and Electronics Engineers, Inc.", must be present. On the receipt, you must include: (1) the amount of cash contributed; (2) a description of any property other than cash contributed (do not include the value of the property); (3) whether any goods or services were provided in exchange for the contribution; and (4) a description and good faith estimate of the value of those goods or services.
You should keep copies of all Gift Acknowledgments/Receipts. In some cases, a donor may lose his or her receipt and request a copy. Also, should the IRS question a donor's contribution or audit the IEEE, these copies may have to be presented to the IRS. There are penalties imposed by the IRS on charities that do not provide required receipts and disclosure statements.
Conference registration fees, exhibit space rental, and sales of books, educational materials and other goods are taxable for the GST/HST. If more than 25% of the conference attendees are expected to be Canadian residents, the conference must register for and collect the GST/HST. If it is expected that at least 75% of the attendees will be non-residents of Canada, the conference does not need to register for and collect the GST/HST. In addition, the conference can claim a rebate for the tax it pays on its conference-related purchases. To determine the number of Canadian attendees you can reasonably expect to attend the conference, use the percentage of Canadian residents: 1) who attended previous IEEE conferences in Canada; 2) who are usually invited to attend the conference; or 3) are listed as members of IEEE. Canadian members account for approximately 10% of total IEEE membership but the other factors must also be used to reasonably determine the percentage of attendance. You need to keep documents available in the conference records to support how you determined the percentage of Canadian and non-resident attendees in case of an audit by Revenue Canada. However, if your determination was reasonable and you discover after the conference that more than 25% of the attendees were Canadian residents, the GST/HST status of the conference will not change.
The IEEE Tax Administration Department will help register the conference. See the IEEE contact information list.
A Canadian convention facility or hotel operator can directly credit you with an amount equal to the GST/HST payable on the convention facility, conference related goods and services, and hotel accommodations direct billed to the conference. This means that you do not have to pay GST/HST and file a rebate application after the conference. The tax credit is a voluntary option on the part of the Canadian convention facility or hotel operator and has to be negotiated between the two of you. Before giving you a credit equal to the tax payable, the Canadian supplier may ask you to certify that your event qualifies for a tax rebate. Suppliers other than convention facility and hotel operators cannot credit the rebate. For goods and services purchased from other suppliers, you have to pay the tax and apply for a rebate.
Revenue Canada will refund GST/HST, Quebec TVQ and Manitoba PST paid on conference related purchases. Rebates can be obtained by completing and mailing the rebate application form supported by copies of invoices showing the amount of tax paid, copies of the canceled checks for these payments and a conference agenda, itinerary, or program. Contact the IEEE Tax Compliance & Administration Department for assistance.
The IEEE is a non-profit organization, incorporated in New York State, USA. IEEE holds conferences and meetings throughout the world and the tax and legal requirements can vary greatly for each site. In the United States, the IEEE is exempt from paying income taxes and is also exempt from paying sales taxes on purchases in ten states. Some states require sales taxes to be collected by conferences on sales of books and other items. Outside of the US, there are other taxes that may be required to be collected by conferences, such as the Value Added Tax (VAT) and the Goods & Services Tax (GST) in Canada and Singapore. There are also exemptions from paying VAT and GST and the rules are unique by country. Also, in most countries where the U.S. has an Income Tax Treaty, IEEE is excluded from paying income taxes.
Because the laws and requirements of each country, state and province vary, it is very important that each conference contact the IEEE Tax Compliance Office to find out the specific tax and legal requirements to operate at their site. This should be done very early in the planning stages of the conference. Big savings could result and major risk may be avoided.
When IEEE co-sponsors a conference with a for-profit-entity, IEEE must ensure that:1) Its assets are being used to further its educational and scientific purposes; 2) All transactions with the for-profit-entity must be at arm’s-length. In other words, the for-profit-entity must not receive any excess benefits. (It is OK for IEEE to receive excess benefits.)3) Allocation of profit and loss must be in direct proportion to respective capital contributions.4) If IEEE is a financial co-sponsor, IEEE must have sufficient control. (More control than the for-profit-entity)
5) If IEEE is a technical co-sponsor, the benefits received by IEEE must meet or exceed the benefits that are received by the for-profit-entity for IEEE’s involvement. This must be calculated and documented. Is there an agreement with the for-profit-entity? If so, it should be reviewed by IEEE’s attorney.
Under federal tax regulations, IEEE as well as libraries cannot give appraisals or estimates of value for donors. Valuation is the responsibility of the donor. The IEEE or a library can provide a list of qualified appraisers upon request of the donor. Donated materials valued at over $5,000 require appraisal information and appropriate IRS forms. Since tax laws change from time to time, donors are encouraged to consult the IRS or a knowledgeable tax expert about current requirements. All gifts are acknowledged unless requested otherwise. Donors may be asked to sign an official deed of gift acknowledging the donation.
The Internal Revenue Service has issued Tax Identification Numbers (a.k.a. Employer Identification Numbers) to the IEEE, IEEE Sections/Regions/Councils, and the IEEE Foundation. When asked to supply a Tax Identification Number, it is important to indicate the full legal name of the entity.
Legal Name Tax Identification Number
Institute of Electrical and ElectronicsEngineers, Inc. 13-1656633
IEEE Foundation Incorporated 23-7310664
Please contact the IEEE Tax Compliance Department for the Tax Identification Numbers of IEEE Sections/Regions/Councils.
IEEE must file IRS Form 1099-MISC information returns for calendar year payments that total $600 or more for rents, services (including parts and materials), prizes and awards, and other income payments to any individual or unincorporated business.
The correct taxpayer identification number must be obtained from each payee for whom a Form 1099 will be filed. These payees must complete and return a W-9 Form "Payer’s Request for Tax-payer Identification Number".
The IEEE Accounts Payable Department completes IRS Form 1099-MISC for IEEE Conferences. Conferences must submit to the IEEE Accounts Payable Department no later than 10 January the names, addresses, social security numbers and total amount paid during the year for all individuals and unincorporated businesses paid $600 or more for rents, services, prizes and awards.
The IEEE Tax Compliance Department completes IRS Form 1099-MISC for IEEE Conferences. Conferences must submit to the IEEE Tax Compliance Department no later than 10 January the names, addresses, social security numbers and total amount paid during the year for all individuals and unincorporated businesses paid $600 or more for rents, services, prizes and awards.
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