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Entries by Casse Tate, Victoria Snyder

IRS Releases Proposed Regulations on UBTI Calculation for Not-for-Profit Organizations

Posted 1:00 PM by
The IRS published proposed regulations on April 23, providing guidance on the changes made to calculating unrelated business taxable income (UBTI) when Internal Revenue Code Sec. 512(a)(6) was enacted as part of the Tax Cut and Jobs Act of 2017. Under this new guidance, exempt organizations would be required to determine how many unrelated trade or business activities they have and then to separately calculate the income or loss of each activity. This raised many questions about how to determine if an exempt organization had more than one unrelated trade or business and, if so, how to calculate its taxable income and tax due.
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IRS Issues Interim Guidance on Parking Expenses for Not-for-Profit Organizations

Posted 12:30 PM by
When the Tax Cuts and Jobs Act (TCJA) made qualified transportation fringe benefits (QTFs) nondeductible, it changed how parking expenses are treated. Recently, the IRS released interim guidance (Notice 2018-99) on how not-for-profit organizations can determine the amount of these expenses that must be treated as an increase in unrelated business taxable income (UBTI) as of Jan. 1, 2018.
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Tax Reform Impact on Tax-Exempt Organizations

Posted 5:00 AM by
When designing its tax reform bill, Congress did not overlook tax-exempt organizations. The Tax Cuts and Jobs Act of 2017 (TCJA) includes provisions relating to unrelated business taxable income, executive compensation, and investment income. Beyond the impact the new law has on tax-exempt organizations, individual donors' charitable giving will also be affected.
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