Archive: Parking Tax

  • Clear Filters

Nonprofit Parking Tax Repeal: How to Obtain Your Refund or Credit

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 The provision was repealed retroactively, which means nonprofits can request a refund or credit […]

Parking Tax Repealed – The Ordeal Is Almost Over!

A new law was signed recently that repeals code Section 512(a)(7), the unpopular tax on most tax-exempt organizations, including religious organizations and voluntary health and welfare groups, for parking and various other transportation fringe benefits provided to employees. The provision is repealed retroactively, which means refunds can be requested for all taxes paid for the […]

IRS Issues Guidance on Parking Benefit Expenses to Be Included as UBTI for Nonprofits

The Internal Revenue Service (IRS) has issued Notice 2018-99, Parking Expenses for Qualified Transportation Fringes Under Section 274(a)(4) and 512(a)(7) of the Internal Revenue Code, which provides some clarity to nonprofits for determining the amount of increase to unrelated business taxable income (UBTI) for parking benefits provided to employees. This new UBTI is a result […]