Course Details

Unrelated Business Income Tax

Webinar: ID# 1018063
Recorded CD
About This Course:
The IRS has become more sophisticated and active in the arena of unrelated business income tax. The result of noncompliance can be disastrous in terms of revenue and reputational loss to the organization.

The IRS has the ability to assess penalties, sanctions and even revoke the nonprofit status of the organization.

This topic will provide you with an update on reports by the Advisory Committee on Tax Exempt and Government Entities, (ACT) Exempt Organization: Analysis and Recommendations Regarding Unrelated Business Income Tax Compliance of Colleges and Universities; contains drastic revisions to Form 990-T and corresponding activities for all entities. The ACT Report is a culmination of the certain key focus areas of the IRS and the implications of the IRS's Compliance Project Final Report.

We will address some of the old and new issues that currently face the sector in the area of unrelated business income tax, and will explain some of the nuances of what constitutes UBIT and what is mission or exempt revenue.

How do organizations' recognize the potential pitfalls or take advantage of new or specifically tax exempted alternative revenue sources?


Definition of Unrelated Business Income
  • History
  • Basic Principals
  • Tax Rates, Tax Forms and Organizations Subject to UBIT
What Income Is Subject to UBIT?
  • Substantially Related Income
  • Specifically Excluded Income
  • Debt Financed Property
  • Rents From Real Property Based on Net Profit
Alternative Revenue Sources and Information
  • Website Activities
  • Acknowledgments or Sponsorship vs. Advertising
  • Digest of Published Rulings
  • Partnership Investments – Review of Form K-1
  • Advisory Committee on Tax Exempt and Government Entities (Act), "Exempt Organizations: Analysis and Recommendations Regarding Unrelated Business Income Tax Compliance of Colleges and Universities
  • Additional Materials and Resources
About The Presenter

Joe Giso, CPA, MST
  • Managing director at CBIZ Tofias in Boston, Massachusetts
  • Head of CBIZ, Inc. National NFP Tax Technical Community
  • Member of the NFP Tax Group and the firm’s Not-for-Profit and Education Practice
  • Former senior tax director in the Boston office of McGladrey
  • Provides tax consulting services dedicated to improving the accountability and efficiency of tax-exempt organizations and consulting in intermediate sanctions, lobbying, unrelated business income, website reviews, charitable solicitations and foreign reporting requirements
  • Consulted Harvard Management Company, Inc.; Museum of Fine Arts; Museum of Science; University of New England; Lowell General Hospital; Grand Lodge of Masons in Massachusetts; Lasell College; American Public Television; Massachusetts Society for the Prevention of Cruelty to Animals; St. Joseph’s College of Maine; National Fire Protection Association; Pathfinder International; The Home for Little Wanderers; Buckingham, Brown & Nichols School; and New England Aquarium Corporation
  • Professional affiliations include the American Institute of Certified Public Accountants and the Massachusetts Society of CPAs
  • Certified public accountant
  • M.S.T. degree, Bentley College; B.A. degree in accounting, Suffolk University
Unrelated Business Income Tax
Available on CD format
Course Details
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