The July 2010 article “Charitable Planning” mischaracterized the effect of unrelated business taxable income (UBTI) received by a charitable remainder trust (CRT). For tax years beginning after Dec. 31, 2006, UBTI would not cause a CRT’s income from sources other than UBTI to become taxable. UBTI itself, however, is subject to a 100% excise tax.
SPONSORED REPORT
CPEOs provide peace of mind around payroll servicesThe creation of these new IRS-certified service providers for small businesses clarifies some issues around traditional professional employer organizations.
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Pronoun practice to help polish your proseUsing pronouns correctly in writing and speech can help you make a good impression. Try our 10-question quiz.