P.L. 115-97, commonly referred to as the Tax Cuts and Jobs Act (TJCA) contains provisions which may dramatically impact (1) what constitutes UBTI (2) how and at what rate tax is calculated in the current and future years. TJCA also imposes an excise tax on investment income of certain private colleges and universities. This session will explain these provisions of the TJCA, discuss the impact on affected tax-exempt organizations, and review current and expected IRS compliance guidance.
Recognize the provisions of TJCA that may impact tax-exempt organizations.
Analyze the impact of provisions on affected tax-exempt organizations.
Evaluate how these tax law changes impact their organizations or their clients.