In recent years, the IRS has become more sophisticated and active in the arena of both unrelated business income tax (UBIT) and executive compensation. In April 2013, the IRS released the final report on its Colleges and Universities Compliance Project; a critical flaw identified by the IRS in this review of more than 400 colleges and universities was the lack of “appropriate comparability data” considered in determining reasonable executive compensation. In addition, the report found a significant underreporting of unrelated business taxable income. A major initiative has been started by the IRS to review 990-T filings based on these results. Noncompliance can be disastrous in terms of revenue and reputational loss to an organization. The IRS has the ability to assess penalties, sanctions and revoke the exempt status of an organization if deemed non-compliant.
This webinar will address major tax issues facing not-for-profit organizations today, including key topics related to Intermediate Sanctions such as, identifying potential “high risk” positions and employees, selecting relevant organizations and appropriate data sources, and comparing an organization’s executive pay practices to those of similar organizations. In addition, we will provide you with an update on key IRS focus areas in regards to Alternative Investments and UBIT. This webinar will enable you to address many of the issues not-for-profit organizations currently face in the area of UBIT, and will explain some of the nuances of what constitutes UBIT in relation to Alternative Investments.
Registration is free and this course is eligible for 2 CPE credits.
CBIZ & MHM Executive Education Series:
Key Tax & Compensation Complexities Facing Not-for-Profit Organizations
Thursday, Dec. 4, 2014, 1-3 p.m. CST
Can’t attend on this date? Join us for the repeat broadcast on Dec. 10.