Tax Exempt Organizations - Planning and Compliance for Tax Matters

Overview

Tax-exempt organizations are subject to a variety of complex tax rules and can be exposed to penalties if their everyday operations are not carefully monitored. The IRS is expanding audit coverage of all types of exempt organizations, concentrating on “governance” issues. This program addresses, from a transaction planning and compliance perspective, the major tax issues exempt organizations face.

Prerequisites

Experience with tax-exempt organizations

Designed For

Accounting and financial professionals that have any involvement with tax-exempt organizations and preparation of Forms 1023, 1023-EZ, 1024, 990, 990-EZ, and 990-N. May also be suitable for public practice.

Objectives

• Recognize unrelated business taxable income (UBTI) issues
• Apply tax law to calculation of UBTI
• Report UBTI correctly
• Recognize the exceptions to the UBTI rules
• Understand the tax implications of advertising and sponsorship
• Understand and properly handle unrelated debt-financed income
• Recognize other unrelated business taxable income issues
• Determine appropriate handling of political activity and legislative lobbying
• Recognize when intermediate sanctions are applicable and what rules must be observed to avoid exposure to them
• Recognize circumstances where disclosure is necessary and when exceptions to the general disclosure rules exist
• Understand the tax return's focus on management and policies

Preparation

None