Nonprofit Law Matters

Tag Archives: unrelated business income tax

Tax Reform Affects Exempt Organizations

Posted in Charitable Gift Planning, Private Foundations, Public Charities, Religious Institutions, Revenue Generating Activities, Tax Treatment of Lobbying & Political Activities

The House Ways and Means Committee on Thursday introduced its highly anticipated tax legislation, called the Tax Cuts and Jobs Act.  The Act proposes major changes to the Internal Revenue Code, including lowering the number of tax brackets, increasing the standard income tax deduction, and repealing or limiting other deductions.  You may have read about… Continue Reading

Lots of Colleges and Universities Have Lots of Unrelated Business Taxable Income — What About You?

Posted in Public Charities, Revenue Generating Activities

Yesterday, the IRS released its final report on its compliance project on colleges and universities.  (For those who don’t remember, this started in 2008 with questionnaires sent to 400 randomly-selected exempt colleges and universities, followed by 34 not-at-all-randomly-selected audits.)  While there were other interesting findings, I’d like to focus on the widespread and substantial underreporting of (and… Continue Reading