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Events and Programs
Events and Programs
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2017 Unrelated Business Income Tax

February 22-24, 2017
Motif Seattle
Seattle, WA

Schedule

Wednesday, February 22

12:00 PMRegistration Opens
1:00 PMWelcome and Introductions
1:10 PMUBIT Fundamentals: What You Don't Know Can Hurt You!

Speaker(s):
Dominic Daher, University of San Francisco
Joseph Irvine, The Ohio State University
Julia Shanahan, Columbia University in the City of New York

Colleges and universities, while generally tax-exempt, are subject to tax on unrelated business income (“UBI”). Examining the under-reporting of UBI is a frequent part of any IRS enforcement activity at a college or university. Whether as a refresher, or if you are learning about it for the first time, this session will explain the regulatory framework for UBI.
2:30 PMRefreshment Break
2:45 PMExclusions: Understanding What is NOT UBI

Speaker(s):
Dominic Daher, University of San Francisco
Dawn Mayer, University of San Francisco

This session will explore in detail the various categories of activities and income that will not be treated as unrelated trades or businesses or as UBI under the Internal Revenue Code, regardless of otherwise meeting the applicable tests. The session will also discuss ways of identifying possible sources of income on campus and the considerations for determining whether such income may qualify for a statutory exception.
4:05 PMQualified Sponsorship Payments or Advertising?

Speaker(s):
Dominic Daher, University of San Francisco
Joseph Irvine, The Ohio State University
Julia Shanahan, Columbia University in the City of New York

Determining whether a payment is a non-taxable qualified sponsorship payment or taxable advertising can be tricky. Payments that are not qualified sponsorship payments are not automatically unrelated business income, therefore additional analysis is required to determine how the payment should be classified.. This session will provide a roadmap for applying the corporate sponsorship rules to a variety of campus situations.
5:30 PMWelcome Reception

Thursday, February 23

7:30 AMBreakfast
8:30 AMAll Rent is Not the Same

Speaker(s):
Jodi Kessler, Massachusetts Institute of Technology
Joel Levenson, University of Central Florida

This session will examine the UBIT exception for rental income using a range of examples from simple to complex rent agreements.
9:45 AMRefreshment Break
10:00 AMThe Aftermath: Retooling after the IRS Examinations

Speaker(s):
Edward Jennings, University of Michigan
Joel Levenson, University of Central Florida
Brian Thomason, Pepperdine University
Kyle ZumBerge, University of Texas System Administration

The IRS audited Pepperdine University, the University of Texas and the University of Central Florida as part of the major higher education compliance project. Although all three schools fared well, they made significant modifications to their unrelated business income tax (UBIT) risk management program. The tax professionals from these schools will discuss the process improvements made, their use of resources and the benchmarks they go by to validate the success of their programs and the management of their tax risks and liabilities.
11:15 AMConstructing the Form 990-T: Required attachments, Option Disclosures and Leading Practices

Speaker(s):
Mike Cincotta, Ernst & Young LLP
Jodi Kessler, Massachusetts Institute of Technology
Jeanne Schuster, Ernst & Young LLP

Each year, institutions of higher education must determine what information to disclose and attach to the Form 990-T. The Form 990-T has not been substantially revised in many years. However, while the UBI activities undertaken by institutions of higher education have continued to evolve and grow in complexity, the Form 990-T has not evolved to keep pace. It is important that institutions of higher education understand which attachments and disclosures are required for certain UBI activities reported on Form 990-T, the level of specificity  required ), what opportunities may be available to limit compliance risk or potential opportunities to reduce the organization’s tax liability..
12:45 PMLunch
2:00 PMManaging UBIT When You're the Tax "Expert"

Speaker(s):
Brian Thomason, Pepperdine University
Brett Withem, Pepperdine University

Many smaller institutions have to deal with UBIT, but don't have dedicated resources for doing so.  This presentation will discuss how to manage UBIT compliance, as well as on-campus education around the topic, without dedicated resources.
2:00 PMUnrelated Debt Financed Income (UDFI) and Imputed UBIT from Controlled Entities

Speaker(s):
Benjamin Davidson, University of North Carolina at Chapel Hill
Edward Jennings, University of Michigan

Unrelated debt financed income (UDFI) and UBI from controlled entities are vague yet highly scrutinized, and often misunderstood and misapplied. This session will address the fundamentals of these exceptions to the exceptions. The audience will leave with a firm understanding of these rules, as well as planning techniques to manage them.
3:15 PMRefreshment Break
3:30 PMAlternative Investments: UBIT & More!

Speaker(s):
John Barrett, University of California Office of the President
Kyle Richard, University of Washington

While endowment strategies have added value across campus, alternative investments generate complex UBIT and tax-compliance challenges. This presentation will review the requirements, some potential new challenges, opportunities for planning, and practical guidance for effectively managing this area.
3:30 PMDual-use Facilities: Methodologies for Allocation of Indirect Expenses

Speaker(s):
Dave Moja, Capin Crouse, LLP

Allocations of expenses for UBIT purposes are something that tends to give many of us sleepless nights.  The IRS has this issue on their current Priority Guidance Plan - but what might that guidance ultimately look like?  Let's dive in and take a look.

Friday, February 24

7:30 AMBreakfastCasual Friday - Wear Your School Colors
We encourage you to wear something from your current college or university or your alma mater. This is a great way to get to know other attendees and show your school spirit! (Sportswear is ok)
8:30 AMCase StudiesParticipants will move into small groups to resolve hypothetical campus scenarios illustrating various concepts and issues related to UBI.
10:30 AMRefreshment Break/Hotel Check-Out
11:00 AMAsk the Experts: Open Forum
12:00 PMProgram Adjourns

Program Overview

2017 Unrelated Business Income Tax
February 22-24, 2017

Estimated CPEs:14


Sponsors

Moss Adams LLP - Certified Public Accountants | Business Consultants

Payment Options

For online registration NACUBO only accepts Visa, Mastercard, and American Express.

Visa | MasterCard | American Express

To pay by check or purchase order
please use our
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For further information regarding administrative policies such as refunds, cancellations, and complaints:

1.800.462.4916

Registration Policy

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CPE Information

NACUBO is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

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