A Guide to Unrelated Business Income

By: Karen A Gries

With the IRS and state agencies putting more scrutiny on unrelated business income, associations need to be clearer on what revenue is and isn't taxable. This overview covers some of the trickier cases.

For today's tax-exempt organizations, compliance with unrelated business income tax regulations is critical. Though the Internal Revenue Service continues be active in this area, state governments are becoming more active in addressing compliance. Understanding the current regulatory climate and tax laws is the first step in the process of minimizing potential risk associated with noncompliance....