Unrelated Business Income Tax (UBIT)

Below are relevant links from the Internal Revenue Code and U.S. Treasury concerning unrelated business income tax.

Section 512 of the Internal Revenue Code – IRC provision describing unrelated business taxable income

Section 511 of the Internal Revenue Code - IRC provision imposing tax on unrelated business income.

Section 513 of the Internal Revenue Code – IRC provision describing an unrelated trade or business.

Section 514 of the Internal Revenue Code – IRC provision describing unrelated debt-financed income.

Section 4965 of the Internal Revenue Code – IRC provision imposing excise tax with respect to prohibited tax shelter transactions.

Section 6011(g) of the Internal Revenue Code – IRC provision requiring disclosure of a reportable transaction to an IRA.

Section 6111 of the Internal Revenue Code – IRC provision pertaining to disclosure of reportable transactions.

Section 6707 of the Internal Revenue Code – IRC provision pertaining to failure to furnish information regarding reportable transactions.

Section 6707A of the Internal Revenue Code – IRC provision imposing penalty for failure to include reportable transaction information with return.

U.S. Treasury Regulation Sections 1.512(a)-1, 1.512(b)-1 and 1.512(c)-1 – Treasury Regulations Sections defining and describing unrelated business taxable income.

U.S. Treasury Regulation Section 1.513-1 – Treasury Regulations Section defining an unrelated trade or business.

U.S. Treasury Regulation Sections 1.514(a)-1, 1.514(b)-1, 1.514(c)-1 and 1-514(e)-1 – Treasury Regulations Sections discussing unrelated debt-financed income and property and acquisition indebtedness.