22 THE QUEENS COURIER • KIDS & EDUCATION • SEPTEMBER 24, 2020 FOR BREAKING NEWS VISIT WWW.QNS.COM
HIGHER ED TODAY
Just days into the fall semester, the
City University of New York’s ability to
propel students up the socioeconomic
ladder was recognized in a series of national
rankings of institutions of higher
ed.
The Wall Street Journal named Baruch
College and City College of New
York as the country’s top two “Best
Value” public colleges, respectively.
Those schools were also listed, along
with six other CUNY colleges, among
the top public schools in the northeast,
and also among the nation’s most affordable
and diverse.
CUNY’s quality and affordability
were also recognized by U.S. News &
World Report, which named 10 CUNY
senior colleges among the top performing
public institutions of higher education
in the northeast. The magazine
listed six CUNY schools among the top
25 in promoting social mobility, and six
whose graduates have the least student
debt. And Business Insider, Money.com
and the Princeton Review each also
touted CUNY’s value and affordability
in their rankings, while a study published
earlier this year by the Brookings
Institution affirmed CUNY’s effectiveness
in lifting low-income students into
the middle class.
Our community colleges were also
recognized for their quality in the 2019-
2020 school year, when three were selected
as candidates for the prestigious
Aspen Prize, putting them in league
with the top 15 percent of community
colleges nationwide. Earlier this year,
Borough of Manhattan Community College
was named a finalist for the $1 million
prize.
This all serves to underscore CUNY’s
tangible impact on the city and region,
its economy and residents. Its greatest
impact can be stated in two words: social
mobility.
CUNY’s 25 campuses anchor their
communities, helping all residents of
our city to meaningfully contribute to
the city’s evolving economy. Now, the
University is marshaling its resources
to help the region build back even better
from the economic fallout of the pandemic.
To ensure that our graduates continue
to drive the area’s economic resurgence
for years to come, we have
collaborated with industry partners
and created career readiness programs
for students that will culminate in tens
of thousands of well-paying jobs for the
city’s economy.
of some of the largest employers in New
York will create career pathways for
25,000 CUNY students with a focus on
low-income and Black, Latinx and Asian
communities. The New York Jobs CEO
Council will have a direct impact on the
economy, creating a pipeline of skilled
CUNY workers to the growing workforce.
90-day Upskilling challenge, which is
providing free skills training and includes
course partnerships with Google
and IBM to connect students to employers
who are hiring during COVID-19.
-
ing CUNY in the state’s historic $9 million
Workforce Development Initiative
to support job training opportunities
across New York. The federally funded
program will support job training opportunities
across the state, and will
benefit CUNY colleges including Lehman,
Kingsborough Community College
and LaGuardia Community College,
helping our students adjust to a post-
COVID market.
-
tural Corps, a proven-successful program
that provides a pipeline to careers
in New York City arts and cultural sectors
for students from underrepresented
communities. With new support from
the Andrew W. Mellon Foundation,
CUNY will be able to place hundreds of
additional students in internships and
give them access to the training and exposure
to pursue fulfilling careers in
the arts.
These initiatives represent the kinds
of work-based learning programs that elevate
students and inspire informed observers
to acknowledge our efficacy, and
the benefits are long-lasting. As of summer
2018, we estimated that 1 million
people who graduated from a CUNY college
in the previous half century were
living in New York State, and 82 percent
of those — or 840,000 CUNY grads —
lived in New York City.
From CUNY’s operations and procurement,
research, construction and
student and alumni activities, our colleges
annually generate billions of dollars
for the regional economy, as two
studies noted earlier this year.
When I was appointed Chancellor
in May of 2019, I brought an agenda that
focused on increasing access for traditionally
underrepresented groups. The
COVID-19 pandemic compelled us to
quickly pivot to distance learning, but
it didn’t alter my priorities. It only made
them more urgent.
After all, when we provide a path upward
for all New Yorkers, we are moving
the city forward. I can’t think of a better
cause to get behind in these uncertain
times.
CORPORATIONS
HAVE SHORT PERIOD
TO APPLY FOR IRS
CAP PROGRAM
Corporations that want to participate in the Compliance
Assurance Process (CAP) for the 2020 program year must apply
between Sept. 16 and Oct. 31, the IRS announced on Thursday.
This year marks the first time since 2015 that new applicants
have been allowed to apply to participate in the CAP program.
The IRS also announced expansions to the program.
Corporations that are accepted into the program can work
with the IRS to resolve tax issues before filing their tax returns.
The CAP program was developed by the Large Business and
International Division. The program accepts participants
for one year at a time and requires corporations to execute a
memorandum of understanding each year.
To qualify for the program, a corporation must:
• Have assets of $10 million or more;
• Be a U.S. publicly traded corporation with a legal requirement
to prepare and submit SEC Forms 10-K, 10-Q, and 8-K; and
• Not be under investigation by, or in litigation with, any
government agency that would limit the IRS’s access to current
tax records.
To participate in CAP, corporations must adhere to CAP
program limits on the number of open years. For 2020, the
IRS expanded the list of open-year exceptions and developed
a process for new applicants that are currently under IRS
examination. If a corporation is currently under examination,
it must not have more than one filed return and one unfiled
return open on the first day of the applicant’s CAP year. For
a new applicant currently under examination to be eligible to
participate, the current cycle must be closed, and the subsequent
cycle not started on the first day of the applicant’s CAP year.
Because the CAP program requires openness and transparency
between the IRS and participants, the program is not available to
corporations that fail to exhibit cooperative behavior. Examples
of uncooperative behavior include not meeting information
document request deadlines or providing incomplete responses;
not participating in meaningful or good-faith issue resolution
discussions; not thoroughly disclosing a material issue in a timely
manner; not disclosing a tax shelter or listed transaction; not
disclosing an investigation or litigation that limits IRS access to
current corporate records; filing claims or requesting appeals
frequently; and not following the terms of the CAP program.
John Savignano is a partner with Savignano Accountants &
Advisors located at 47-46 Vernon Blvd., Second Floor, in Long
Island City. If you have any questions or require additional
information, please call John at 718-707-0955.
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