Cadwalader Logo BrassTax Logo
Subscribe
IRS Finalizes UBTI Regulations

On November 19, 2020, Treasury and the IRS issued final regulations under section 512(a)(6) of the tax code. Under that section, a tax-exempt organization with more than one unrelated trade or business must compute UBTI separately with respect to each business, and cannot offset income from one business with losses from another.  

The final regulations largely follow the proposed regulations issued in April 2020, which we discussed here.  

Key Contacts

Adam Blakemore
Partner
T. +44 (0) 20 7170 8697
adam.blakemore@cwt.com

Linda Z. Swartz
Partner
T. +1 212 504 6062
linda.swartz@cwt.com

Jon Brose
Partner
T. +1 212 504 6376
jon.brose@cwt.com

Andrew Carlon
Partner
T. +1 212 504 6378
andrew.carlon@cwt.com

Mark P. Howe
Partner
T. +1 202 862 2236
mark.howe@cwt.com

© 2024 | Notices