The U.S. Treasury Department and IRS today released for publication in the Federal Register final regulations (T.D. 9886) providing guidance on how certain organizations that provide employee benefits—including voluntary employee beneficiary associations (VEBAs) under section 501(c)(9), supplemental unemployment benefit trusts (SUBs) under 501(c)(17), social and recreational clubs under section 501(c)(7), and section 501(c)(2) title holding corporations that have income payable to the listed organizations—are to calculate their unrelated business taxable income (UBTI).
With today’s release, regulations that were proposed in 2014 are finalized and corresponding temporary regulations are removed. Read the final regulations [PDF 308 KB]
The preamble to the final regulations explains that Treasury and the IRS considered comments received in response to the 2014 proposed regulations, and that the final regulations adopt the provisions of the 2014 proposed regulations “with no modifications” other than the following changes:
The final regulations were published in the Federal Register on Tuesday, December 10, 2019.
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