Tax Reform

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Donald Trump's Tax Plan Could Have Churches Paying Thousands of Dollars More

This month the National Council for Nonprofits, which is the largest network of charitable organizations, called on the IRS and Treasury Secretary Steven Mnuchin's office to delay implementation of the tax on fringe benefits.

Tags: Tax Reform, UBIT
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Republican tax law hits churches

Treasury is now working on regulations spelling out the details of how the tax will work, though the groups are supposed to have already been paying the tax. It took effect Jan. 1 and nonprofits are supposed to pay it quarterly.

Tags: Tax Reform, Transportation, UBIT
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Nonprofits Call on Treasury/IRS to Delay Implementation of Ambiguous UBIT Provisions of New Tax Law

Washington, DC - The National Council of Nonprofits submitted a letter to the Department of Treasury and...

Posted In: Press Releases
Tags: Tax Reform, UBIT, Unrelated Business Income, Transportation Benefits
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Tax reform leaves nonprofits with ‘tsunami’ of challenges

According to David Thompson, vice president of public policy at the Washington, D.C.-based National Council of Nonprofits, charity-minded organizations are not only facing the uncertainty of new federal tax changes that don’t have clear...

Tags: Tax Reform
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California lags other high-tax states on state and local deduction workaround

But the plan also could increase contributions if a person who previously gave $200 now gives $10,000 to get a tax credit. In this case the charity would be ahead by $800.

Tags: California, SALT, State and Local Taxes, Tax Reform
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Delaware budget battle: What to do with extra $350 million in revenue

Those comments are music to the ears of Sheila Bravo, CEO of the Delaware Alliance for Nonprofit Advancement.

Tags: Delaware, Tax Reform, State Budget
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A not so charitable situation for Baton Rouge area nonprofits

The nonprofit sector is an important one for the state.

Tags: Louisiana, Charitable Giving, Tax Reform
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Law Lets Local Governments Treat Property Taxes as Charitable Contributions

Meanwhile, other concerns about the workaround have come from the state’s nonprofit community, which is already worried that the Trump tax overhaul could lead to fewer donations being made by New Jersey residents due to the increased standard...

Tags: Tax Reform, New Jersey, State and Local Taxes, SALT

Guidance on New UBIT and Exec Comp Changes Moving Forward

Some organizations also want to know whether passive investment activity “could be all one group,” Ramey said, adding, “We are looking at various things and we’re looking at various options.”

Tags: Tax Reform, UBIT, Fringe Benefits
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Nonprofits Seek Delay in New UBIT Rules’ Implementation

Nonprofit representatives have asked the IRS and Treasury to delay implementing new unrelated business income tax rules until after guidance is published.

Tags: UBIT, Tax Reform, IRS

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