October 5, 2000
By GRANT WILLIAMS
The I.R.S. has published a revised version of its handbook “Tax on Unrelated Business Income of Exempt Organizations.”
Nonprofit groups must pay the tax, known as UBIT, on income from activities that are not “substantially related” to their charitable missions.
The booklet, Publication 598, may be found on the revenue service´s Web site, at http://www.irs.ustreas.gov/forms_pubs/pubs.html.
