IRS and Congress Put UBIT Under the Microscope

IRS and Congress Put UBIT Under the Microscope

By: Laura Kalick

Unrelated business income tax (UBIT) has drawn attention lately from the IRS and Congress as both attempt to wrestle with tax reform issues. Associations would be wise to keep a close eye on the government's interest in UBIT to be ready for potential policy changes. Here's the latest on what's being considered.

In April 2013, the IRS issued the Final Report [PDF] on its Colleges and Universities Compliance Project (CUCP). Although the focus of the project was colleges and universities, the conclusions of the report were clearly not limited to these institutions. ...