In this CPE course, you will get an understanding of what constitutes unrelated business income. You will consider real-world examples and examine tax court findings and IRS rulings to learn how to deal with some common UBI-generating activities. Also discussed are commonly applied exceptions and exclusions to UBI that can reduce an organization’s tax liability, as well as potential red flags that should be avoided.
▪ Recognize typical unrelated business activities conducted by exempt organizations.
▪ Differentiate between the more common unrelated business income (UBI) exclusions and exceptions and determine when they are most likely to apply based on a fact pattern.
▪ Recognize steps to prepare IRS Form 990-T Exempt Organization Business Income Tax Return.
▪ Analyze a scenario and calculate UBI.
▪ Overview of unrelated business income
▪ Commerciality doctrine
▪ Exclusions and exceptions
▪ Activities that result in tax liability
▪ IRS audit activity
▪ Completion of IRS Form 990-T Exempt Organization Business Income Tax Return
CPAs, financial professionals and NFP staff and board members looking to deepen their existing knowledge of NFP financial responsibility, and set themselves apart as a leader in this field