Credit is available with or without generating unrelated business income by tax-exempt organizations.
In recent years, congress and the IRS have increased scrutiny of exempt organizations, particularly regarding those organizations’ unrelated business incomes – otherwise known as UBI.
The Financial Accounting Standards Board recently released Update No. 2014-`17 for November 2014, known as Business Combinations Topic 805.
The office of Management and Budget is attempting to make good on its vow to streamline guidance for costs principles, audits and administrative requirements associated…