Published on National Council of Nonprofits (https://www.councilofnonprofits.org)

Home > Tax Law Implications for Transportation Benefits for Nonprofit Employees

Tax Law Implications for Transportation Benefits for Nonprofit Employees

Rick Cohen, CCO/COO of the National Council of Nonprofits, with Mike Sorrells, Nonprofit Tax Director for Tate and Tryon

In late March 2018, new guidance [1] was provided by the Internal Revenue Service (IRS) regarding the tax treatment of transportation benefits provided by nonprofit employers to their employees. In this podcast, Rick Cohen [2], CCO/COO of the National Council of Nonprofits, and Mike Sorrells [3], Nonprofit Tax Director for Tate and Tryon [4], discuss the new transportation fringe benefit tax and what it means for nonprofits and their employees, and the steps many nonprofits should be taking now to address this new tax liability in 2018. Note that since the recording of this podcast the IRS has indicated that the unrelated business income tax on transportation fringe benefits WILL be imposed on the nonprofit employer for contributions into a pre-tax qualified plan.

Resources

Source URL: https://www.councilofnonprofits.org/tax-law-implications-transportation-benefits-nonprofit-employees

Links
[1] https://www.irs.gov/pub/irs-pdf/p15b.pdf
[2] https://www.councilofnonprofits.org/rick-cohen
[3] https://www.tatetryon.com/biographies/r-michael-sorrells/
[4] https://www.tatetryon.com/
[5] https://www.tatetryon.com/wp-content/uploads/2018/03/Taxibility-of-Transportation-Fringe-Benefits.pdf
[6] https://www.councilofnonprofits.org/thought-leadership/taxing-tax-exempts-and-other-oxymorons-the-new-tax-law
[7] https://www.councilofnonprofits.org/sites/default/files/documents/tax-law-checklist-nonprofits.pdf