Reporting UBTI and UBIT in Partnerships and S Corporations: Mastering K-1 Disclosures for Exempt Org Partners
Key Box 20V Reporting, Footnotes and Separate Disclosures, and UDFI Exemptions
Recording of a 110-minute CPE webinar with Q&A
This webinar will provide a comprehensive and practical guide into the rules governing Unrelated Business Income Tax (UBIT) on Unrelated Business Taxable Income (UBTI) as applied to partnerships and S corporations. The panel will discuss the reporting requirements imposed on tax advisers serving pass-through entities which have exempt organizations as partners or shareholders. The webinar will cover the specific reporting challenges facing tiered partnerships, and will offer usable guidance on completing required disclosures to accompany the partnership Schedule K-1.
- UBTI Background, Overview and Consequences
- Partnership and S Corporation Fundamentals and Reporting
- UBTI Exceptions
- UDFI Rules
- Planning Considerations
The panel will discuss these and other important issues:
- Understanding situations in which UBTI is a risk and how to inquire further with the exempt organization
- How to identify risks to the exempt organization’s tax exemption
- Fundamentals of calculating UDFI and exempt organization tax liability
- How to structure exempt organization investments to minimize exposure to UBTI.
William M. Funk
Law Office of William M. Funk
Mr. Funk focuses his practice on tax law, with extensive experience in tax planning and dispute work. He... | Read More
Mr. Funk focuses his practice on tax law, with extensive experience in tax planning and dispute work. He represents individuals, businesses, funds and non-profit organizations. He successfully represents clients before federal and state tax authorities and in business negotiations. He counsels clients regarding structuring investments and developments by nonprofits to avoid exposure to unrelated business income tax. He has also been published in leading tax publications on a wide array of tax issues ranging from taxation of real estate developments to international tax policy.Close
Elizabeth M. Mills
Ms. Mills focuses her practice on both health care organizations and tax exemption issues for not-for-profit... | Read More
Ms. Mills focuses her practice on both health care organizations and tax exemption issues for not-for-profit organizations. She addresses regulatory and transactional issues for all types of health care providers and advises these organizations as changes to their particular tax exemption standards are proposed, implemented, and litigated. She also assists tax-exempt organizations in addressing tax compliance and governance issues such as Form 990 reporting, executive compensation, payroll taxes, compliance with supporting organization and private foundation restrictions and use of tax-exempt bond-financed property. She speaks and writes frequently on tax exemption matters, particularly for health organizations.Close
Other Formats— Anytime, Anywhere
CPE On-DemandSee NASBA details.