ASAE Still Hoping for UBIT Repeal

Time is running short for this Republican-controlled Congress to pass a substantial new tax package, but ASAE is still urging lawmakers to repeal a provision in last year’s tax law that forces nonprofit institutions to pay a 21 percent tax on parking and transportation benefits for their employees. House Ways and Means Committee Chairman Kevin… Read more »

ASAE Makes Case on Excise Tax to Treasury

ASAE sent a letter to the Treasury Department earlier this week asking the department to mitigate the impact of a 21% excise tax on certain tax-exempt executive compensation, enacted as part of last year’s Tax Cuts and Jobs Act (TCJA). As ASAE explained in a letter to members, the tax might appear to impact only… Read more »

Tech Industry Still Wary of EU Digital Tax

Plans for a European Union (EU)-wide digital tax on big technology companies like Google, Amazon and Facebook fell apart this month when several European countries objected to the proposal. The push to adopt an EU-wide digital tax was led largely by the UK, France and Germany who want to tax tech companies earning profits in… Read more »

Brady’s Tax Package Includes UBIT Repeal

House Ways and Means Committee Chairman Kevin Brady (R-TX) last night offered a “manager’s amendment” to his year-end tax package which includes a full repeal of UBIT on qualified transportation and parking fringe benefits provided by tax-exempt organizations. Included in last year’s Tax Cuts and Jobs Act, the provision forces tax-exempt groups to pay tax… Read more »

Grassley Wants Senate Finance Gavel Again

Sen. Chuck Grassley (R-IA) last Friday confirmed his interest in serving as chairman of the Senate Finance Committee when the 116th Congress is seated in January. Grassley currently chairs the Senate Judiciary Committee but wants to return to the tax-writing committee he chaired briefly in 2001 and then from 2003 to 2007. Under Senate Republican… Read more »