Congress Repeals Parking Lot Tax for Nonprofits
Of the many provisions outlined in the original language of the Tax Cuts and Jobs Act (TCJA), few raised significant resistance like the new tax on qualified transportation fringe (QTF) [...]
Unrelated Business Income Baskets: New IRS Regulations
If your organization has revenues and losses from unrelated business income (UBI), your tax picture could change drastically under the new tax laws. Starting with tax years beginning after Dec. 31, [...]
Important Info for Nonprofits: QTF and the Tax Cuts and Jobs Act
Businesses and nonprofits should expect changes when it comes to parking benefits. The Tax Cuts and Jobs Act (TCJA) has amended Section 274 to limit or remove tax deductions for employers [...]
Executive Compensation Excise Tax: What You Need to Know Now
The IRS and Treasury Department have released interim guidance on the new tax law affecting excise taxes on executive compensation for tax-exempt organizations such as nonprofits and higher education entities. Notice [...]
New Nonprofit Reporting Guideline Protects Donor Privacy
In a move to protect donor privacy and ease reporting burdens, the Treasury Department and the IRS announced on July 16 that certain nonprofit organizations no longer have to report personally-identifiable [...]
Higher Education Tax Reform: What’s In It For You?
Now that the Tax Cuts and Jobs Act has been signed into law, we are in the midst of higher education tax reform that could impact you and your loved ones. [...]