W141: Unrelated Business Income Tax (UBIT)- Latest Update Nonprofits & Associations

UST WEBINAR SERIES

Thursday, April 29, 2021
3:00 pm - 4:30 pm (EASTERN TIME)

COVID19 presents significant challenges for executives leading non-profit organizations. One of the greatest of these is the magnitude of the overall financial impact. As membership dues and conference registrations decline, NFP and Associations are expanding products and services to generate additional income. These activities may be considered unrelated business income (UBI). Executives must carefully monitor the level of UBI activity, as it may jeopardize their exempt status. Learn exactly what UBI means, the interpretations and IRS guidance.

Learning Objectives

Publication 598 – what is UBI?
Court interpretations of UBI Silos, rates, fringe benefits – Tax Cuts-Jobs Act impact on UBIT IRS Guidance
Notice 2018-67Assessment and Documentation. How much is too much?

SPEAKER BIOS

James (Jim) Niblock

Senior Tax Manager, CPA Department

A graduate of both business school and law school, Jim has advised business clients for more than twenty-five years as a CPA and as a former practicing attorney. Jim specializes in the multi-state tax aspects of business transactions, tax compliance, and tax planning. He also has experience assisting clients in the areas of retirement plans, corporations, partnerships, LLCs, and not-for-profit organizations. Jim is also experienced in working with attorneys and other non-CPA professionals to provide clients with estate planning and business succession planning services. Jim is currently licensed in Florida and Iowa as a CPA and in Iowa as a licensed attorney. Education JD – University of Iowa College of Law. BBA, Accounting – University of Iowa. Specializations Multi-state taxation Retirement and estate planning Taxation for corporations, partnerships, LLCs and non-profit organizations

Level	Intermediate	Delivery	Group Internet-Based
CPE(NASBA Category)	Taxes	Reviewer	Wade Tetsuka, CPA
CAE (Field of Study)	Administration	CPE/CAE Credits	1.5
Prerequisites and advance preparation needed	At least 1-year of accounting in public or private nonprofit industry is preferred; no advance preparation required.	Cost	$0.00

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