+Bipartisan Support Demonstrated for Repeal of Tax on Nonprofit Transportation Benefits
Washington, DC – In response to the favorable recommendation by the House Ways and Means Committee of H.R.
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+Nonprofits Applaud Progress on Repealing Tax on Nonprofit Transportation Benefits
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:
+Good news, bad news
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 Comes & Goes & Nonprofits Pay
#NonprofitTaxDay came and went on May 15, with the National Council of Nonprofitsand other advocacy organizations trying to garner attention on the new...
+UBIT Benefits Discussed At Capitol Hill Hearing
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. ...
+Mnuchin suggests further action on parking tax up to Congress
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.
+A priest, a minister and a rabbi get free parking spots …. and the Trump tax law makes their congregations pay! We’re not joking.
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...
+What About Those Fringe Benefits?
But the nonprofit sector is increasingly worried that no such bill will become law before the filing season comes to an end.
