UBIT

Prop. Regs. Ease UBTI Consequences for CRTs

The Service has issued proposed regulations to reflect the change made by TRAHCA to impose a 100% excise tax on the unrelated business taxable income (UBTI) of charitable remainder trusts (CRTs) that have UBTI.

Debt-Financed Income and UBTI

Editor: Joel E. Ackerman, CPA, MST Two exempt organizations meet the requirements of Sec. 501(c)(3) (one as a charitable organization and the other as an educational organization—a university). These organizations own equal interests in a partnership, and they have boards of trustees that overlap by more than 50% of the

Teaching an Old Dog New Tricks: CRTs and UBTI

Dec. 20, 2006 marked a unique day in the taxation of charitable remainder trusts (CRTs)— President Bush signed into law the Tax Relief and Health Care Act of 2006 (TRAHCA ’06). Buried in that legislation is revised Sec. 664(c), which significantly alters the tax treatment of unrelated business taxable income

Newsletter Articles

TAX REFORM

Traps for the unwary: Tax Cuts and Jobs Act changes

By now many of us are familiar with the various provisions of the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97. Here is a list of changes together with (perhaps) unexpected nuances.

DEDUCTIONS

Qualified business income deduction regs. and other guidance issued

The package includes final regulations, guidance on how to calculate W-2 wages, a safe-harbor rule for rental real estate businesses, and new proposed rules on the treatment of previously suspended losses.