answersLogoWhite

0

The IFF is a fee collected by GSA Schedules contractors and remitted to GSA on a quarterly basis. It is .75% of your GSA sales for the quarter.

User Avatar

Wiki User

16y ago

What else can I help you with?

Related Questions

How do you record industrial funding fee transactions?

To record industrial funding fee transactions, first determine the nature of the transaction, whether it's an expense or a liability. If it's an expense, debit the appropriate expense account and credit cash or accounts payable. If it involves a liability, debit the cash or asset account received and credit a liability account for the funding fee. Ensure to document the transaction with relevant details for accurate financial reporting and compliance.


Is the iff fee allowable cost?

The "IFF" fee, or Indirect Federal Funds fee, is generally considered an allowable cost when it is specifically authorized by the terms of the grant or contract governing the funding. However, whether it is allowable can depend on the specific regulations and policies of the funding agency, as well as the context in which the fee is incurred. It's important to review the relevant guidelines and consult with the funding agency or a compliance officer for clarification.


What is the first time veterans loan purchase funding fee?

january31,2009


Is the VA Funding Fee considered Mortgage Insurance for tax purposes?

no,


What can you tell me about settlement funding?

Settlement funding is a great way to get a lump sum versus waiting for payments. Keep in mine thee is normally a sizeable fee for this service.


What percentage of disability is needed to waive a VA funding fee on home loans?

To waive the VA funding fee on home loans, a VA loan borrower must be receiving compensation for a service-connected disability rated at 10% or higher. This means at least a 10% disability rating is needed to qualify for a waiver of the VA funding fee.


Is the VA funding fee tax deductible?

See this link - IRS pub. 936 p. 7. Very well explained. http://www.irs.gov/pub/irs-pdf/p936.pdf Hope this helps! "Mortgage insurance provided by the Department of Veterans Affairs is commonly known as a funding fee."


Is the quarterly GSA IFF fee an unallowable expense --or an allowable expense?

The quarterly GSA IFF (Industrial Funding Fee) is generally considered an allowable expense for federal contractors. This fee is typically included in the overhead costs that can be allocated to government contracts. However, contractors must ensure that they comply with the specific terms of their contracts and applicable regulations, as there may be exceptions based on contract stipulations. Always consult with a financial advisor or compliance expert for guidance specific to your situation.


Is the quarterly GSA IFF fee an unallowable expense or an allowable expense?

The quarterly GSA IFF (Industrial Funding Fee) is generally considered an allowable expense for federal contractors. This fee is part of the costs associated with doing business under GSA contracts and is typically reimbursable to the contractor. However, it is essential for contractors to ensure that they comply with the specific terms of their contract and applicable federal regulations regarding cost allowability. Always consult the relevant guidelines or legal counsel for specific situations.


How much does the government fund the BBC?

The BBC is primarily funded through the television license fee paid by UK households, which is currently set at £159 per year for a color TV license. This fee is collected by the government but is not direct funding; instead, it allows the BBC to operate independently. The government does provide some additional funding for specific projects, such as the World Service, but the bulk of its income comes from license fees rather than direct government funding.


What is the difference between paying a fee or making a contribution?

When paying a fee, it is a requirement that you do it. If you are making a contribution, it would be nice if you put toward it, but not a requirement. Contributing is the same a donating. You put time/funding towards something, but you're not forced to donate.


When to get into Bitcoin?

It depends on when you want, but now is the perfect time to purchase BTC; you can use Netcoins Exchange to buy and sell BTC with a zero fee on funding and withdrawal.