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The passing of the Tax Cuts and Jobs Act has incited changes to Form-990T to address how unrelated business taxable income (UBTI) will be reported going forward. Recently, the Internal Revenue Service released a draft of the 2018 form. Here are some of the most significant changes:
Other changes to the draft form include a change to the calculation of tax liability reflecting the new flat 21 percent rate and the elimination of the alternative minimum tax for corporations.
If you have questions about the impact of tax reform on your organization, please contact Doeren Mayhew’s tax advisors today.
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