The IRS recently released a revised edition of Publication 598, Tax on Unrelated Business Income of Exempt Organizations. The publication was released in March 2010. It explains the rules that apply to the taxation of unrelated business income, including the types of organizations that are subject to the tax and how to figure unrelated business taxable income.
The publication also highlights changes that include the expiration of the five-year carryback election for losses on total capital expenditures and the expiration of qualified cash contributions for relief efforts in Midwestern disaster areas.
As stated on www.irs.gov. Please see www.irs.gov/publications/p598/index.html for more information on this new publication.