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

SPONSORED REPORT

Tax reform changes are now in effect

With all the recent tax law changes, this year it’s more important than ever to make sure your clients’ tax situations are squared away before year end. This report provides necessary guidance to ensure 2019 starts without a hitch.

DEDUCTIONS

Understanding the new Sec. 199A business income deduction

The new deduction allows certain business owners to keep pace with the significant corporate tax cut provided by the Tax Cuts and Jobs Act.