Non-Profits and Unrelated Business Income: Evaluating Non-Core Revenue Streams

Preparing for Tough Scrutiny of UBI by the IRS

Recording of a 110-minute CPE/CLE webinar with Q&A


Conducted on Wednesday, July 11, 2012

Recorded event now available

or call 1-800-926-7926
Program Materials

This teleconference will provide accounting advisors with an update on new developments involving unrelated business income (UBI) oversight at the federal level. The panel will offer suggestions to improve planning and preparation for IRS non-profit audits.

Description

The need for non-profits and their advisors to skillfully navigate policy on when UBI leads to a tax bill has never been more pressing. A U.S. House subcommittee recently held hearings on oversight of tax-exempt activities, and a far-reaching inquiry seems likely.

That inquiry could address the IRS' ongoing project on college and university compliance, religious organizations and UBI, redesign of Form 990, and Form 990-T filing trends. Other new guidance and IRS activities demand attention. The updated IRS Publication 598 (UBI guidance) and 2012 work plan are examples.

Non-profits are still adjusting to rules for when 501(c)(6) organizations with affinity marketing programs must report UBI. A review of material developments involving federal oversight, regulations and guidance on UBI can help non-profits and advisors be ready to act swiftly and correctly.

Listen as our panel of experienced non-profit tax advisory specialists brings you up to speed on the latest new guidance and shifts in UBI tax policy and compliance initiatives at the federal level.

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Outline

  1. Latest developments at the federal level
    1. House subcommittee hearings
    2. IRS compliance projects on colleges and universities, and churches
  2. Material new or revised IRS guidance on UBI
    1. Updated Publication 598
    2. 2012 IRS work plan, and UBI's role in it
    3. Requirements for 501(c)(6) organizations with affinity marketing programs to file Form 990-T and report UBI
    4. Letter rulings
    5. Policy related comments at exempt organizations conference
  3. Audit planning alternatives
  4. Recommended approaches for non-profits to adjust to federal policy shifts

Benefits

The panel will explore what is and isn't now considered UBI, based on these and other latest developments:

  • Congressional inquiries and special IRS oversight programs on colleges and faith-based organizations.
  • Updated IRS guidance and work plan.
  • Special rules for affinity programs and 501(c)(6)es.
  • Trends in IRS audits of non-profits.

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Patricia Jo Mayer
Patricia Jo Mayer
Senior Tax Manager
Moss Adams

She is attached to the firm's not-for-profit industry group and serves as its regional NPO tax expert for Suthern...  |  Read More

Greg McRay
Greg McRay
CEO
Foundation Group

He founded the firm, which specializes in entity formation and tax compliance for 501(c)(3) organizations, in 2000. The...  |  Read More

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Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

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