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Exempt Organizations UBIT

Perkins Coie

IRS Issues Guidance on Prior Year Parking Tax Refunds or Credits for Tax-Exempt Organizations

Perkins Coie on

On January 21, 2020, the Internal Revenue Service (IRS) released guidance for tax-exempt organizations on how they may obtain a refund or credit for prior year unrelated business income tax (UBIT) incurred for qualified...more

McGuireWoods LLP

IRS Issues Guidance on Filing Refund Claims Related to the Repeal of the “Parking Tax” on Nonprofits

McGuireWoods LLP on

The Internal Revenue Service posted informal guidance on its website to assist nonprofits claiming refunds for previously paid unrelated business income tax associated with the “parking tax” on nonprofits, which was repealed...more

K&L Gates LLP

Proposed Tax Code Overhaul Introduced with the Tax Reform Act of 2014

K&L Gates LLP on

On February 26, 2014, House Ways and Means Committee Chairman Dave Camp released draft (the "Discussion Draft”) that would substantially reform the current U.S. Tax Code (the “Code”). The Discussion Draft contains numerous...more

Proskauer - Not for Profit/Exempt...

IRS Issues Wake Up Call to Colleges and Universities — Congress to Hold Hearings

The IRS released its Final Report on its five year study of the audit results of colleges and universities. Lois G. Lerner, Director of the Exempt Organizations division of the IRS announced the “long awaited” posting of the...more

Proskauer - Not for Profit/Exempt...

House Ways and Means Oversight Subcommittee Holds Second in a Series of Hearings on Issues Facing Tax-Exempt Organizations

On July 25, 2012, the Oversight Subcommittee of the House Committee on Ways and Means, led by Congressman Charles W. Boustany Jr., MD (R-LA), heard testimony from the IRS and experts in the tax exempt community on the growing...more

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