Tax Reform

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IRS Proposes Grouping Of Nonprofits' Taxable Biz Income

David L.

Tags: Unrelated Business Income Tax, Tax Reform
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Early data shows charitable giving dipped slightly under Trump tax law

But stakeholders in the nonprofit sector expressed concerns, saying that Treasury's data is in line with other studies that have shown that Trump's tax law had a negative effect on charitable giving.

Tags: Charitable Giving, Tax Reform
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Nonprofits Face Headaches Under Income Reporting Rules

The American Institute of CPAs in November 2019 asked the IRS to exclude small tax-exempt organizations from the measure, saying those entities don’t have the tools that their larger counterparts have to...

Tags: Tax Reform, UBIT
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Nonprofits May Face Costly Hurdles To Get Fringe Benefit Refunds

That might not seem like much, but David Thompson, vice president of public policy for the National Council of Nonprofits, said 92% of all nonprofits have revenues of less than $1 million.

Tags: Transportation Benefits Tax, UBIT, Tax Reform
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Congress made a mistake on this tax measure – and admitted it

“Some eliminated parking and transit pass benefits.

Tags: Transportation Tax, Mississippi, California, Tax Reform
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Final SALT Rules Could Save Scholarship Fund, Parents Tell IRS

The 25,000-member National Council of Nonprofits has yet to hear whether nonprofits like the proposed rules.

Tags: SALT, Tax Reform, State and Local Taxes
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New state tax law, changes to nonprofit giving

"The big change this year, is that people who are using the standard deduction on their state income taxes can also get a tax benefit for the money they donate to local nonprofits," said Kate Jensen, the CEO of the Ronald McDonald House Charities...

Tags: Charitable Giving, Tax Reform, Arizona
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Congress moves to repeal “parking tax”

The unrelated business income tax was imposed on a variety of fringe benefits such as free parking, subsidized transit passes, and use of on-premises athletic facilities.  The taxes were immediately unpopular, in part because they applied to...

Tags: Transportation Benefits Tax, UBIT, Tax Reform
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Lawmakers strike agreement on last-minute tax package

At the same time, the legislation would rescind a controversial tax included in the 2017 tax law on fringe benefits churches and...

Tags: Transportation Tax, UBIT, Tax Reform, Transportation Benefits
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Transportation Benefits Tax Axed From House Bill

“Justice delayed is still justice,” said David Thompson, vice president of public policy for the National Council of Nonprofits in Washington, D.C.

Tags: Transportation Benefits, UBIT, Tax Reform, Transportation Tax

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