ASAE Releases Two New Tax Policy Issue Briefs

Since the 2017 tax reform, two major tax-related issues have dominated ASAE advocacy: The unrelated business income tax (so-called “UBIT”) on parking and transit benefits employers provide employees; and The excise tax, under Internal Revenue (IR) Code Section 4960, on certain compensation associations and nonprofits provide senior employees. To help further inform ASAE members, stakeholder… Read more »

House Extenders Package Includes UBIT Repeal

The House Ways and Means Committee passed a tax extenders package today that includes a provision to repeal the 21 percent tax on certain employee benefits provided by associations and other nonprofit organizations. ASAE and its UBIT Coalition have been pushing Congress to repeal the tax for more than a year. The unrelated business income… Read more »

Lankford to Introduce UBIT Repeal Bill

Sen. James Lankford (R-OK) is expected to introduce legislation today to repeal a provision in the 2017 Tax Cuts and Jobs Act that assesses a 21 percent tax on the value of so-called fringe benefits – such as free parking or mass transit assistance – that nonprofits provide to employees. Sen. Chris Coons (D-DE) is… Read more »

Clyburn Introduces UBIT Repeal Bill

House Majority Whip James Clyburn (D-SC) introduced a bill today to repeal a 21 percent tax on the value of so-called fringe benefits – such as free parking or mass transit assistance – that nonprofits provide to employees. ASAE and the UBIT Coalition have had numerous meetings on Capitol Hill this year urging lawmakers to… Read more »

IRS Guidance Impacts Treatment of Parking Expenses

The IRS on Aug. 21 issued interim guidance on the provision in the new tax law that requires separate computation of unrelated business income tax (UBIT) for tax-exempt organizations with more than one unrelated trade or business. ASAE and the UBIT Coalition have been asking for guidance from Treasury for months on this provision, along… Read more »