Unrelated Business Income Tax

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Overview

1.5 Credits
ONLINE

This CPE course provides an overview of the tax compliance issues related to unrelated business income taxes (UBIT). You will learn about the various types of activities that may result in UBIT and the common statutory exceptions and exclusions available under federal tax law.

Objectives

  • Differentiate between unrelated business income and other types of income received by NFPs.
  • Recall the three criteria to determine whether income is subject to UBIT.
  • Identify the statutory exceptions to UBIT.
  • Recall the specific requirements and exceptions that apply to investment and debt-financed income.
  • Identify the basic IRS filing requirements related to UBIT.

Major Topics

  • Meaning of exempt purpose
  • Related vs. unrelated activities
  • Definition of unrelated business income
  • Consequences of excessive unrelated business income
  • Exempt vs. non-exempt income
  • Statutory exemptions and exclusions
  • IRS Filing Requirements

Designed For

CPAs, financial professionals and NFP board members who need a basic overview of unrelated business income tax.
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