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Text of IRS Proposed Regs on Calculation of UBTI for Certain Tax-Exempt Organizations
Internal Revenue Service [IRS] Link to more items from this source
[Official Guidance]
Feb. 5, 2014
18 pages. Excerpt: "This document contains a new proposed regulation providing guidance on how certain organizations that provide employee benefits must calculate unrelated business taxable income (UBTI) [namely, voluntary employees' beneficiary associations described in section 501(c)(9), supplemental unemployment benefit trusts described in section 501(c)(17), and group legal services organizations described in section 501(c)(20)].... This new proposed regulation retains the formula set forth in the 1986 Proposed Regulation and [the still-effective temporary regulation] 1.512(a)-5T but modifies and clarifies the description and adds examples. This new proposed regulation specifically states that any investment income a Covered Entity earns during the taxable year is subject to unrelated business income tax (UBIT) to the extent the Covered Entity's year-end assets exceed the account limit, and clarifies that this rule applies regardless of how that income is used."

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