Description
In this CPE course, you will get an understanding of what constitutes unrelated business income. Consider real-world examples and examine tax court findings and IRS rulings to learn how to deal with some common UBI-generating activities.
Objectives
- 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
Highlights
- 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