Many of the provisions in the proposed Tax Reform Act of 2014 (“TRA 2014”) released earlier this year would adversely impact tax-exempt organizations. For example, TRA 2014 would remove the long-time exclusion from unrelated...more
30-SECOND SUMMARY It may seem logical for certain for-profit organizations to enter into business arrangements with nonprofits. Although both parties can certainly benefit from such an arrangement, the nonprofit must be...more
In a recent memorandum (found here), the IRS issued instructions to all exempt organization examiners on the applicability of unrelated business income tax (“UBIT”) to certain income earned by state-chartered credit unions...more
On February 26, 2014, House Ways and Means Committee Chairman Dave Camp released draft (the "Discussion Draft”) that would substantially reform the current U.S. Tax Code (the “Code”). The Discussion Draft contains numerous...more
Congressional Consideration Continues, Including Provisions That Would Impact the Real Estate Industry -
The House Ways & Means Committee is currently holding Member-level discussions on tax reform and is in the...more
On June 13, 2013, the majority and minority staffs of the U.S. Senate Finance Committee (the “Committee”) released a 19-page compilation of federal tax reform options addressing various rules and laws applicable to tax-exempt...more
In this Presentation:
Compliance Projects Generally -
- The Colleges and Universities Compliance Project:
- Final Report
Lessons to Be Learned from the Final Report -
The IRS released its Final Report on its five year study of the audit results of colleges and universities. Lois G. Lerner, Director of the Exempt Organizations division of the IRS announced the “long awaited” posting of the...more
In October 2008, the Internal Revenue Service (the “IRS”) began work on the Nonprofit Colleges and Universities Compliance Project (the “Project”). The IRS sent out an initial compliance questionnaire to over 400 tax-exempt...more
On July 25, 2012, the Oversight Subcommittee of the House Committee on Ways and Means, led by Congressman Charles W. Boustany Jr., MD (R-LA), heard testimony from the IRS and experts in the tax exempt community on the growing...more
In this presentation:
- What is Unrelated Business Income?
- UBIT Exceptions: Qualified Sponsorship Income
- UBIT Exceptions: Royalty Income
- Cause-Related Marketing
Please see full...more
A tax-exempt organization is generally exempt from federal corporate income tax on income derived from activities that are substantially related to the organization’s tax-exempt purposes. However, a tax-exempt...more
What is Unrelated Business Income?
- What is unrelated business income?
- What is excluded from unrelated business income?
- Explanation of specific UBI exceptions
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