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Tax reform for tax-exempt organizations: changes to unrelated business income

While simplification was a broadly stated goal of the reform, tax-exempt organizations are targeted with several changes that may lead to additional reporting requirements and involve implementing changes to existing practices to maintain compliance. One of the Tax Cut and Jobs Act's (the Act's) major modifications that impact tax-exempt organizations include reforms to the rules for identifying and calculating unrelated business income (UBI) reported on Form 990-T.

This webinar led by Baker Tilly tax professionals highlights sections of the Act affecting unrelated business income as well as potential tax planning opportunities to help organizations adapt to the new UBI reporting regime so your focus can be on fulfilling the organization’s mission.

Discussion topics include:

  • Segregation of activities for calculating net taxable income
  • Corporate changes that impact tax-exempt organizations reporting UBI
  • Taxability of certain fringe benefits
  • Net operating loss rules

The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Tax information, if any, contained in this communication was not intended or written to be used by any person for the purpose of avoiding penalties, nor should such information be construed as an opinion upon which any person may rely.  The intended recipients of this communication and any attachments are not subject to any limitation on the disclosure of the tax treatment or tax structure of any transaction or matter that is the subject of this communication and any attachments.

For more information on this topic, or to learn how Baker Tilly not-for-profit specialists can help, contact our team.

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