Tax Reform

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Feds Try To Explain, Mitigate Parking UBIT

It’s not all good news.

Tags: Transportation Benefits, UBIT, Tax Reform
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Treasury tries to minimize impact of new tax on churches, other nonprofits

But the move didn't satisfy a major nonprofit association, which said repealing the tax is "the only reasonable response."

Tags: Tax Reform, Transportation Benefits, UBIT
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IRS issues guidance aimed at limiting impact of tax on nonprofits' parking expenses

David L. Thompson, Vice President of Public Policy of the National Council of Nonprofits, was critical of the IRS’s notice and said that it demonstrates that the tax on nonprofits’ expenses for transportation benefits needs to be repealed.

Tags: Tax Reform, Transportation Benefits, UBIT
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IRS gives tax guidance on parking expenses to nonprofits

Nonprofits were not overly impressed with the new guidance and are hoping for a full repeal of the provision in the Tax Cuts and Jobs Act.

Tags: Transportation Benefits, UBIT, Tax Reform
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Churches, other nonprofits may get relief after Rep. Kevin Brady reverses course on new tax

"We're encouraged by the bipartisan recognition of the damage that a new 21 percent tax would have on nonprofits' ability to serve their communities," said David Thompson, vice president of public policy at the National Council of Nonprofits.

Tags: Tax Reform, UBIT, Transportation Benefits
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Brady amends his tax package to help nonprofits

While Brady's bill may not ultimately become law, there has been bipartisan criticism of the tax on nonprofits' expenses for transportation benefits.

Tags: Tax Reform, UBIT, Transportation Benefits
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Charities brace for fallout from tax law

Sheila Bravo, president and chief executive officer of the Delaware Alliance for Nonprofit Advancement, said it may take her organization two or three years until it can get a sense of the implications from tax law changes.

Tags: Delaware, Giving, Tax Reform
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Nonprofits battle a new tax affecting nonprofit commuters

The Nonprofit Coordinating Committee of New York is urging action on an outstanding bill that would prevent a tax on commuter benefits. Changes to the federal tax code left nonprofits vulnerable to the Unrelated Business Income Tax, but the state...

Tags: New York, UBIT, Transportation Benefits, Tax Reform
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National Council of Nonprofits Applauds Bipartisan Letter Calling for Delay of New Taxes on Tax-Exempt Organizations

Washington, DC – In response to a letter sent by Senators Chris Coons (D-DE) and James Lankford (R-OK) to Treasury Secretary Mnuchin, calling for a delay in the implementation of two...

Posted In: Press Releases
Tags: Tax Reform, Taxing Tax-Exempts, UBIT
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Charities fear hit from Trump tax law during holidays

Nonprofits had urged lawmakers and the Trump administration to incorporate such a deduction into the tax-cut law as it was being drafted, and they are continuing to make the case for the idea.

Tags: Tax Reform, Charitable Giving

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