Author Kevin E. Fincher, CPA, Clifton Gunderson LLP, lays out the history of the credit union industry’s struggles with this tax and presents a concise summary of existing Internal Revenue Service guidance. He addresses the impact of IRS rulings made in 2007 that changed longstanding precedent and created confusion for credit union leaders.

Fincher presents a clear and comprehensive overview of the issues and the risks credit unions face in light of UBIT. Turn to this executive briefing to learn more about:

• Requirements for unrelated business income
• Current developments
• State taxation of credit unions
• New information about reporting requirements
• And more