Unrelated Business Income Tax (UBIT) Case Studies
Monday, May 1, 2017 – Monday, April 30, 2018
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