+In response to the release of Ways and Means Committee Chairman Neal’s tax bill, Tim Delaney, President and CEO of the National Council of Nonprofits, made the following statement:
+David Thompson of the National Council of Nonprofits told Morning Tax that the group was told that the hearing was canceled, but that it was going to try to look at that as good news.
+#NonprofitTaxDay came and went on May 15, with the National Council of Nonprofitsand other advocacy organizations trying to garner attention on the new...
+Section 512(a)(7) of the tax law would impose an unrelated business income tax (UBIT) on the expenses of nonprofits that provide employees with transportation benefits, such as, transit passes and parking. ...
+Based on Mnuchin's and Brady's comments, and House Speaker Nancy Pelosi's recent statement that Democrats will take their time on fixes to the 2017 tax law, Thompson said he's not optimistic repeal will happen anytime soon.
+The tax applies to things such as as free parking, employer-subsidized transit fares and even flexible spending accounts such as the pre-tax deductions for mass transportation expenses, said Linda Czipo, president and chief executive of the...
+But the nonprofit sector is increasingly worried that no such bill will become law before the filing season comes to an end.
