The Internal Revenue Service has notified Missouri Western State University that the university has been randomly selected for an examination of its federal tax returns for calendar year 2012.
“Not really concerned,” said Dr. Cale Fessler, MWSU vice president for financial planning and administration. “We did reach out to the IRS just to kind of touch base and ask a few questions and were informed that it was a random request.”
Western received the letter from the IRS Thursday, Sept. 11, scheduling an examination. Fessler said the list was comprehensive and included a request for audited financial statements, other documentation related to general audits, payroll, faculty and staff benefit plans, international employee payments, international student scholarships, and employee contracts for 2012.
“It was really a random generation of that timeline,” said Fessler.
Western is now working to gether all the requested documents, something Fessler said could take some time.
“Our initial meeting had about 13 different individuals around the table from all kinds of areas, from human resources, payroll, financial aid, various academic areas,” said Fessler. “We’re putting that together and we’ll be ready for them.”
The IRS is expected to onduct the examination of the 2012 records on campus October 20-24.