Description
Learn applicable rules for calculating unrelated business taxable income.
Organizations that are recognized by the IRS as taxexempt are generally not subject to income tax on their activities. However, the IRS imposes what is called unrelated business income tax on certain activities. Unrelated business income tax is not fatal to an organizations taxexempt status (and it sometimes makes sense to incur the tax), but a taxexempt organization should be aware of what it is, how to avoid it, and what the potential consequences are. This presentation will help practitioners identify activities that may cause unrelated business income tax, determine whether any exceptions or modifications apply, and evaluate the risk associated with conducting unrelated trade or business activities. The presentation will also provide information about the applicable rules for calculating unrelated business taxable income.
Date: 2023-11-02 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to define unrelated business taxable income.
* You will be able to discuss the exceptions to unrelated trade or business, and what type of income is generally not considered unrelated business taxable income.
* You will be able to explain debtfinanced income rules and why they matter for a taxexempt organization.
* You will be able to identify activities that may generate unrelated business taxable income.