Self-Study

Unrelated Business Income Tax (UBIT) Case Studies

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.

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

Additional Information

Designed For

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

Vendor

American Institute of CPAs

Field of Study

Taxes

Course Number

17AIS0063

Level of Knowledge

Intermediate

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