UBIT

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Local nonprofits face uncertainty in wake of new tax law

McCrary said he supports tax cuts, but he thinks the government shouldn’t offset them with provisions that impact historically tax-exempt organizations. The foundation leader said he is pleased about Conaway’s bill and what could come from it.

Tags: UBIT, Tax Reform
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Trump tax provision on churches, other nonprofits catches locals off guard

Churches aren’t the only groups affected by the changes, though.

Tags: Alabama, Tax Reform, UBIT
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Newly-Discovered Provision in GOP Tax Reform Law Slaps Tax on Church Parking

Many organizations, including the Boys & Girls Clubs of America, Goodwill Industries, the YMCA and the National Council of Nonprofits, are demanding the tax be delayed, arguing it is unfair to ask them to pay a levy they do not understand.

Tags: UBIT, Tax Reform
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Churches face taxes under new law

The 21 percent tax could cost some churches tens of thousands of dollars.

In the past week, nearly 900 organizations have signed a petition to ask Congress to get rid of the tax.

Tags: UBIT, Tax Reform
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Pennies from heaven? Overlooked provision in Republican tax bill has churches on edge

The National Council of Nonprofits – the nation’s 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: UBIT, 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

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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