Nonprofit Resources
Qualified Charitable Distribution Trap for IRA Checkbook Holders
There's a potential pitfall for IRA owners whose account is with a custodian that provides the owner with a checkbook they can use to write checks on their IRA account. Here's what your organization should know about this issue.
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.
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.
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.
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.
Cutting Through the Confusion about the New “Parking Lot Tax”
August 21, 2018 - Among the many changes and provisions in the Tax Cuts and Jobs Act passed in December, one that has resulted in particular confusion is the taxability of certain fringe benefits provided to employees, particularly parking benefits. Learn more in this Email Alert.
Do We Really Owe Tax on Our Parking Lot?
The new tax on qualified transportation fringe benefits, including parking, has resulted in much confusion. Here's what we know, what we don't, and some examples.
Nonprofit Issues Newsletter, August 2018
Get up to date on the taxability of transportation fringe benefits, effective cybersecurity training, obtaining comparative pay data, and other nonprofit issues.
Transportation Fringe Benefits Are Now UBI — Effective Jan. 1, 2018
Does your tax-exempt organization provide transportation and parking benefits to employees? If so, you may have another commuter headache: a new tax.
Supreme Court Rules States Can Now Tax Online Sales Made by Remote Sellers
June 22, 2018 - The Supreme Court has ruled that states can now tax the online sales remote sellers make to residents of their state. The Court’s decision in South Dakota v. Wayfair overturned the longstanding physical presence test.