Association Tax Concerns Remain Unanswered

The Tax Cuts and Jobs Act of 2017 includes two new taxes that are concerning to association professionals, and in both cases, the Treasury Department and the IRS have not released the guidance necessary for associations to calculate the tax, despite estimated tax payments due this Friday (June 15). These issues are: • a new income… Read more »

Fringe Benefit Tax Provision Still a Concern

ASAE is still waiting for a response from the Treasury Department after delivering a sign-on letter last month from close to 200 tax-exempt organizations concerned about a provision in the new tax law that taxes transportation and parking benefits provided by many employers. The fringe benefits provision removes a deduction for employer-provided benefits such as… Read more »

ASAE Sends Fringe Benefit Comments to Treasury

ASAE delivered a sign-on letter to the Treasury Department today urging the agency to delay implementation of a provision in the new tax law that taxes transportation and parking benefits provided by many employers. The fringe benefits provision removes a deduction for employer-provided benefits such as transportation, parking and on-premises athletic facilities. In meetings with… Read more »

ASAE to Share Fringe Benefits Letter with Treasury

More than 150 organizations have signed on to ASAE’s letter urging the Treasury Department to delay implementation of a provision in the new tax law that taxes transportation and parking benefits provided by many employers. The fringe benefits provision removes a deduction for employer-provided benefits such as transportation, parking and on-premises athletic facilities. In meetings… Read more »

Brady Announces Series of Hearings on Tax Reform

House Ways and Means Committee Chairman Kevin Brady (R-TX) and Tax Policy Subcommittee Chairman Vern Buchanan (R-FL) announced yesterday a series of hearings on how well the new tax law is working. The first hearing in Ways and Means will take place May 16 and will focus on the positive economic developments since the Tax… Read more »