Walker, Suozzi Introduce UBIT Repeal Bill

Reps. Mark Walker (R-NC) and Tom Suozzi (D-NY) introduced a bill March 5 to repeal the unrelated business income tax on certain employee benefits provided by associations and other tax-exempt organizations. The bill is a companion to legislation introduced last week by Sens. James Lankford (R-OK) and Chris Coons (D-DE). The tax on nonprofit fringe… Read more »

Democrats’ Tax Agenda Still Taking Shape

House Democrats will hold hearings this year to lay the groundwork for rolling back some of the more contentious provisions in the Republicans’ 2017 tax law. No Democrats voted for the Tax Cuts and Jobs Act that President Trump signed in December 2017, and Democratic leaders have criticized the bill as disproportionately benefitting large corporations… Read more »

UBIT Repeal Gaining Traction in 116th Congress

ASAE and other members of the UBIT Coalition continue to meet with congressional offices to seek repeal of a 21 percent tax on so-called fringe benefits – such as free parking or mass transit assistance – that nonprofits provide to employees. Just before the holidays, the House passed a tax package authored by Rep. Kevin… Read more »

Treasury Issues Guidance on Fringe Benefits Tax

While congressional leaders worked this week to repeal the fringe benefits tax on nonprofits, the Treasury Department issued interim guidance on Dec. 10 to help soften the tax blow on the sector. Last year’s tax law sets a 21 percent tax on so-called fringe benefits – such as free parking or mass transit assistance –… Read more »

Brady Revises Year-End Tax Bill

House Ways and Means Committee Chairman Kevin Brady (R-TX) released a revised year-end tax bill this week that still includes repeal of a 21 percent tax on parking and transportation benefits provided by nonprofit organizations. ASAE and its UBIT Coalition have been seeking repeal or delay of this tax for almost a year. In addition… Read more »