Unrelated Business Income Tax: Not-for-Profit Tax Compliance

Online Course Available 24/7 CPE: 1.5 Format: On-Demand
COURSE DESCRIPTION

A not-for-profit (NFP) may be liable for federal income taxes if it generates certain types of income from business activities that are unrelated to its tax-exempt purpose or mission. Common examples include sales of merchandise, provision of services to unrelated entities, advertising, leasing of facilities, and certain investment income.

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.

LEARNING OBJECTIVES
When you complete this course, you will be able to:
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
COURSE DETAILS
PROFESSIONAL AREAS OF FOCUS
Tax
CPE FIELD OF STUDY
Taxes (1.5 Credits)
WHO SHOULD ATTEND
CPAs, financial professionals and NFP board members who need a basic overview of unrelated business income tax.
PREREQUISITES
None
COURSE LEVEL
Basic

MACPA MEMBER


$ (% off)
$49.00
Price includes $xx early registration discount(s) - expires xx/xx

NON-MEMBER


$ (% off)
$59.00
Price includes $xx early registration discount(s) - expires xx/xx
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