A new law brings welcome news to the nonprofit community. On December 20, 2019, the president signed an appropriations bill that repeals Section 512(a)(7), the unpopular tax on parking and other transportation fringe benefits provided to employees of most tax-exempt organizations. The provision was repealed retroactively, which means nonprofits can request a refund or credit for all taxes paid for the January 1, 2018 period onward.
Our guide outlines the steps you need to take in order to obtain your refund or credit. Download the guide to learn more, and contact Kathy Cuddapah at 301.231.6200 for assistance with filing your refund or credit claims for all taxes previously paid under this now repealed code section.