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An IRS Magnet: UBIT Expense Allocations Draw Scrutiny

Posted By Celeste Viator, Hannis T. Bourgeois, LLP, Tuesday, July 08, 2014
The IRS pays attention to how non-profit organizations calculate the tax they pay on unrelated business activities. The agency is concerned that many non-profits may be improperly reporting losses related to these activities and thus may not be paying unrelated business income tax (UBIT).  The focus on the reporting of unrelated business income comes in the wake of an IRS compliance study of 400 public and private colleges and universities which resulted in 30 IRS audits. 

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