IRS Issues Guidance on UBIT Refunds

The Internal Revenue Service (IRS) this week issued guidance for tax-exempt organizations on how they can claim refunds for taxes paid on parking and transportation benefits they provide to employees. The 2017 tax law required associations and other nonprofit groups to pay a 21% unrelated business income tax (UBIT) on the value of these employee… Read more »

IRS Asked to Issue Guidance on UBIT Refunds

Ways and Means Democrats this week called on the Internal Revenue Service (IRS) to issue guidance for tax-exempt organizations on how they can claim refunds for taxes paid on parking and transportation benefits they provide to employees. The 2017 tax law required associations and other nonprofit groups to pay a 21% unrelated business income tax… Read more »

House Passes Repeal of Nonprofit Employee Benefits Tax

The House passed a year-end bipartisan spending and tax package Dec. 17 that includes a provision to repeal the 21% unrelated business income tax (UBIT) on transportation fringe benefits levied on nonprofit organizations. The Senate will vote on the bill this week and President Trump is expected to sign it to avert a partial government… Read more »

UBIT Coalition Pushing for Year-End Tax Fix

ASAE and its UBIT Coalition continue to press Congress to repeal the 21-percent tax on nonprofit parking and transportation benefits in any year-end tax package or government funding bill. Repealing the tax, enacted as part of the 2017 Tax Cuts and Jobs Act, has bipartisan support but lawmakers are running out of time to get… Read more »

ASAE Urges Congress to Include UBIT Repeal in CR

ASAE and its UBIT Coalition delivered a letter to House and Senate leaders yesterday urging them to include repeal of the 21 percent tax on parking and transportation benefits that tax-exempt organizations provide to employees in the short-term continuing resolution that Congress is set to pass in the next few days. Repealing the nonprofit benefits… Read more »