UBTI and UBIT for Exempt Organizations: Mastering Form 990-T, Siloing Unrelated Activities, and Avoiding Audit Traps
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE video webinar with Q&A
This course will give nonprofit tax professionals and advisers a good look at the rules governing unrelated business income tax. The webinar will focus on guidelines for determining whether income is unrelated business taxable income (UBTI), how separate business lines are determined under the regulations, and a detailed exploration into the calculations and preparation of Form 990-T Exempt Organization Business Income Tax Return.
Outline
- UBTI overview
- Form 990-T filing thresholds
- Latest guidance on determining separate lines of business activities
- UBTI calculations and schedules
- Tax computation
- Allocation of expense deductions
- Rent income (Schedule C)
- Unrelated debt-financed income (Schedule E)
- Exploited activities (Schedule I)
- Advertising income (Schedule J)
- Other schedules
- IRS audit triggers leading to increases in UBTI
Benefits
The panel will discuss these and other relevant topics:
- Definition of UBTI and Form 990-T filing thresholds
- Deduction standards for expenses in UBTI calculations
- Rental income as UBTI
- Siloing unrelated business activities
- Advertising activities
- Unrelated debt-financed income
Faculty
David Trimner, CPA, MST
Managing Partner
TrimnerBeckham
Mr. Trimner brings a wide range of experience from more than 20 years in nonprofit tax consulting. He works with... | Read More
Mr. Trimner brings a wide range of experience from more than 20 years in nonprofit tax consulting. He works with growing and established public charities, private foundations, trade associations, healthcare organizations, and higher education institutions. Devoted to a thorough comprehension of the rules and regulations critical to charitable and tax-exempt entities, he helps enhance an organization's image with contributors, the media, and the general public. His areas of concentration also include unrelated business income, intermediate sanctions, obtaining and maintaining exempt status, executive compensation & benefits disclosures, IRS examinations, and state solicitation requirements.
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Andrew L. Steinberg
Attorney
Venable
Mr. Steinberg advises nonprofit organizations on their legal matters and sensitive business affairs. Senior management... | Read More
Mr. Steinberg advises nonprofit organizations on their legal matters and sensitive business affairs. Senior management and boards of charities, foundations, trade and professional associations, museums, cultural and religious institutions, and other tax-exempt organizations frequently rely on him as their outside general counsel, and as a go-to resource for discrete projects arising from their operations. Mr. Steinberg's experience providing real-world, actionable advice extends to virtually every type of legal issue and best practice relevant to domestic and multinational nonprofit organizations of all sizes.
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