UBIT

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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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Statement on IRS Guidance for nonprofits to claim refunds for transportation UBI taxes paid

Tim Delaney, President and CEO of the National Council of Nonprofits, said the following in response to the IRS releasing guidance that will help nonprofits quickly get refunds of taxes they paid on the now-repealed tax on nonprofit...

Posted In: Press Releases
Tags: UBIT, Unrelated Business Income Tax, Transportation Benefits, IRS Guidance
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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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Nonprofits and Foundations Poised to Score Victories in Tax Legislation

The "parking tax," as the provision was called, was bitterly opposed by a wide swath of nonprofit and advocacy organizations.

Tags: Transportation Benefits, UBIT, Tax Reform
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GOP taxed church parking to help pay for big tax cut. Now pastors want it rolled back

The National Council of Nonprofits surveyed members in June and found plenty of anecdotal evidence the tax is “a big fat mess,” as David Thompson, the group’s vice president of public policy, put it recently...

Tags: Transportation Benefits Tax, Tax Reform, UBIT
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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.

Posted In: Press Releases
Tags: Transportation Tax, UBIT, Tax Reform
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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:

Posted In: Press Releases
Tags: Transportation Tax, UBIT, Tax Reform

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