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 »

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 »

Congress Urged to Delay Tax on Fringe Benefits

ASAE and other members of the UBIT Coalition have drafted a sign-on letter urging Congress to delay the effective date of a provision in last year’s tax law that imposes a 21 percent unrelated business income tax on qualified transportation benefits. The tax change is forcing many tax-exempt employers, including churches and other 501(c)(3) groups,… Read more »

ASAE’s UBIT Coalition Continues to Grow

ASAE continues to enlist tax-exempt organizations in a concerted effort to fix a provision in the new tax law that requires tax-exempt organizations to pay taxes on employee parking and transportation benefits. Last year’s Tax Cuts and Jobs Act includes a provision requiring associations, charities, churches and other tax-exempt organizations to pay unrelated business income… Read more »