IRS Issues Interim Guidance on “Parking Tax”
December 13, 2018 – The IRS and Treasury have released much-anticipated guidance on the “parking tax” under Internal Revenue Code (IRC) section 512(a)(7). As we suspected, paying a third party for employee parking and reimbursing employees for parking is taxable.
IRS Provides Guidance on New UBTI Rules
The IRS has provided some much-needed guidance on the provision in the new Tax Cuts and Jobs Act that requires calculation of unrelated business taxable income (UBTI) separately with respect to each unrelated trade or business. While the IRS still intends to issue proposed regulations on this issue, these guidelines will help exempt organizations compute their UBTI in the short-term.
Webcast for Nonprofits: 2018 Nonprofit Tax Year-End Review
December 20, 2018 - It has been an interesting year for exempt organization (EO) tax issues. In addition to new rulings and announcements and EO tax form changes, the fallout from tax reform has taken center stage. Join us as we summarize the most important of the many changes and look toward 2019.
Top 3 “No” Responses from our Annual Higher Education Tax Survey
A look at the three survey questions in the 2018 Higher Education Tax Reporting Trends Project with the highest percentage of “no” answers.
IRS Clarifies Deductibility of Business Meals
October 4, 2018 - Since the passage of the Tax Cuts and Jobs Act, there have been a lot of questions about how reimbursement for meals should be treated. Now the IRS has issued guidance.
Top 3 “Yes” Responses from our Annual Higher Ed Tax Survey
A look at the three survey questions in the 2018 Higher Education Tax Reporting Trends Project with the highest percentage of “yes” answers.
IRS Clarifies Taxability of 2017 Moving Expenses
September 24, 2018 - The IRS has clarified that 2017 moving expenses paid or reimbursed in 2018 are not subject to federal income or employment taxes.
Webcast for Nonprofits: UBIT in a Season of Transition
November 15, 2018 - In this summary look at UBIT issues, we examine the unrelated business income tax in light of the new Tax Cuts and Jobs Act of 2017.
Webcast for Nonprofits: GAAP vs. Form 990 Accounting – What’s Old? What’s New?
October 25, 2018 - It would be great if Form 990 accounting methodologies matched GAAP. They don't. And with the onset of recent accounting pronouncements, the "gap" is getting worse! In this webcast we navigate the muddy waters of these issues.
2018 Higher Education Tax Reporting Trends Project
See how peer institutions answered survey questions about “pouring agreements,” offering premium seats at athletic events to contributors, raffles, artwork on campus, and more – along with insight on the tax implications.