The unrelated business income tax (UBIT) provisions of the Internal Revenue Code have long been a source of confusion for not-for-profits. Dave Moja, CPA, a tax partner at CapinCrouse LLP, discusses some of the activities not-for-profits should be aware of that produce unrelated business income. Moja also is Chair of the AICPA Not-for-Profit Advisory Council. (Visit the AICPA Not-for-Profit Section to find more information on not-for-profit tax compliance topics.)
What you’ll learn from this episode:
- Common areas that should be analyzed by not-for-profits because they may produce unrelated business income.
- Exemptions and exclusions from UBIT that are allowed under IRS rules.
- How an organization that determines it has unrelated business income can report that income and pay the relevant taxes.
- The addition to unrelated business income in the form of a “parking tax” that the law known as the Tax Cuts and Jobs Act has created.
Play the episode below:
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