News & Analysis as of

Income Taxes › UBIT

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Society of Corporate Compliance and Ethics...

[Virtual Event] Nonprofit Sector Compliance Conference - May 24th, 9:00 am - 4:00 pm CDT

Society of Corporate Compliance and Ethics... on

Get the support you need to properly manage key nonprofit compliance challenges - Nonprofit organizations often find themselves vulnerable to unique fraud and conflict of interest concerns. This one-day virtual conference...more

Williams Mullen

[Webinar] Spring Tax Forum 2021 - June 8th, 11:00 am - 12:00 pm EDT

Williams Mullen on

Please join us for the Spring Tax Forum to be held virtually on Tuesday, June 8, 2021. Register to join Jenny Connors, Philip Delano, Marie Yascko-Rosado and Kevin Bender for an informative discussion on the latest updates in...more

Society of Corporate Compliance and Ethics...

[Virtual Event] Nonprofit Sector Compliance Conference - November 5th, 9:20 am - 3:30 pm CST

Society of Corporate Compliance and Ethics... on

The charitable organization sector faces many compliance challenges, including: - unique tax exemption issues - fundraising registration and related issues - privacy and data security - complex reporting...more

Morgan Lewis

IRS Instructs Nonprofits on How to Claim Parking Tax Refund

Morgan Lewis on

On December 20, 2019, Congress retroactively repealed Internal Revenue Code (IRC) Section 512(a)(7), which had increased unrelated business taxable income by amounts paid or incurred for qualified transportation fringes....more

McGuireWoods LLP

Parking Tax on Nonprofits Retroactively Repealed and Tax Rate for Private Foundations Changed

McGuireWoods LLP on

Last month, Congress retroactively repealed the provision of the 2017 Tax Act that imposed unrelated business income tax on nonprofits that provided qualified transportation fringe benefits to employees....more

Kelley Drye & Warren LLP

Tax Cuts and Jobs Act: Tax-Exempt Organizations

Kelley Drye & Warren LLP on

As mentioned in our January 2018 Client Advisory, the Tax Cuts and Jobs Act (the “Act”), signed into law at the end of 2017, contains significant changes affecting the tax treatment of certain fringe benefits and executive...more

Pullman & Comley, LLC

ALERT: The Tax Cuts and Jobs Acts Provisions Apply to Colleges and Universities

Pullman & Comley, LLC on

Although much of the reporting on the Tax Cut and Jobs Act recently enacted by Congress has focused on the deductions for individuals and businesses, the bill also includes several provisions that apply specifically to...more

Pullman & Comley, LLC

Tax Cuts and Jobs Act

Pullman & Comley, LLC on

Although much of the reporting on the Tax Cut and Jobs Act recently enacted by Congress has focused on the deductions for individuals and businesses, the bill also includes several provisions that apply specifically to...more

Foley & Lardner LLP

Tax Reform: Provisions Directly Affecting Tax-Exempt Organizations

Foley & Lardner LLP on

he Tax Cuts and Jobs Act was signed into law on December 22, 2017. This tax reform law includes the following changes directly affecting nonprofit and tax-exempt organizations, and those who donate to them. A number of...more

Bond Schoeneck & King PLLC

Let’s BOND over the Tax Act Part II - The Higher Education Edition

Bond Schoeneck & King PLLC on

In the spirit of accentuating the positive, there are a few bits of good news for colleges and universities in the Tax Act…as Mary Poppins might say, a spoonful (or three) of sugar to help the medicine go down. Unfortunately,...more

Saul Ewing LLP

2017 Tax Reform Legislation: Impact on Tax-Exempt Organizations, including Educational and Health Care Institutions

Saul Ewing LLP on

The 2017 tax reform legislation colloquially referred to as the Tax Cut and Jobs Act (the Act) includes a number of provisions that will affect tax-exempt organizations of all types, as well as provisions that will affect...more

Stinson LLP

Tax Cut and Jobs Act Changes Will Impact Tax Exempt Organizations

Stinson LLP on

Charitable organizations no doubt have questions following the passage of the Tax Cut and Job Changes Act. Many are rightly concerned about the impact of the increased estate tax exemption amounts, the expanded standard...more

Baker Donelson

Tax Change for the Tax-Exempt: How Will Organizations – and Their Donors – Be Affected?

Baker Donelson on

The final Republican tax cut bill includes several provisions expected to impact tax-exempt organizations, their donors and their employees. First, the bill temporarily increases the charitable deduction amount allowed to...more

Patterson Belknap Webb & Tyler LLP

Impact on Commuter Benefits Programs

Patterson Belknap Webb & Tyler LLP on

The tax reform bill (H.R. 1) approved by the House and Senate this week, and expected to be signed by the President, eliminates the deduction available to employers for the provision of qualified transportation fringe (“QTF”)...more

Proskauer - Tax Talks

House of Representatives and Senate Conferees Reach Agreement on the Tax Cuts and Jobs Act (H.R. 1): Description of the Conference...

Proskauer - Tax Talks on

On Friday, December 15, the U.S. House of Representative and Senate conferees reached agreement on the Tax Cuts and Jobs Act (H.R. 1) (the “Final Bill”), and released legislative text, an explanation, and the Joint Committee...more

Proskauer - Tax Talks

U.S. Senate Passes Its Version of the Tax Cuts and Jobs Act (H.R. 1); Descriptions of the Bills Passed in the House and Senate and...

Proskauer - Tax Talks on

In the early hours of Saturday morning, the U.S. Senate passed the Tax Cuts and Jobs Act (H.R. 1) (the “Senate bill”), just over two weeks after the U.S. House of Representatives passed its own version of the same legislation...more

McGuireWoods LLP

Tax Cuts and Jobs Act: Senate Bill Revisions Affecting Tax-Exempt Organizations

McGuireWoods LLP on

The U.S. Senate produced its version of the Tax Cuts and Jobs Act early on the morning of Dec. 2, 2017. Most of its terms closely track the Chairman’s Mark that the Senate Finance Committee approved Nov. 16, but a few key...more

McDermott Will & Emery

Final Senate Tax Bill: Outlook for Tax-Exempt Organizations

McDermott Will & Emery on

The Senate’s final tax reform bill contains several troubling provisions for tax-exempt organizations but represents an improvement over last month’s proposed legislation, which caused concern across the nonprofit sector. ...more

Patterson Belknap Webb & Tyler LLP

House Passes Tax Bill; Senate Proposal on Track for Vote

Patterson Belknap Webb & Tyler LLP on

On November 2, 2017, House Ways and Means Committee Chairman Kevin Brady (R-TX) introduced H.R. 1, the “Tax Cuts and Jobs Act” (the “Initial House Bill”). Our previous alert discussed the possible impact of certain provisions...more

Cadwalader, Wickersham & Taft LLP

Potential Impact of House Tax Reform Bill on Nonprofit Tax-Exempt Organizations

Cadwalader, Wickersham & Taft LLP on

On November 2, 2017, Republicans in the U.S. House of Representatives unveiled their tax reform bill (the “Bill”), entitled the “Tax Cuts and Jobs Act.” The Bill proposes significant changes to the current U.S. federal income...more

Fox Rothschild LLP

Leveraging – A Hidden Advantage Of Roth 401(k) Accounts

Fox Rothschild LLP on

There have been numerous articles published about the advantages of Roth IRAs and Roth 401(k) accounts. While no tax deduction is available for contributions to Roths, in general, distributions of both principal and earnings...more

Adler Pollock & Sheehan P.C.

Estate Planning Pitfall: Your IRA owns real estate

Adler Pollock & Sheehan P.C. on

Most people invest their IRA funds in stocks, bonds and mutual funds. But others may opt for nontraditional investments, such as real estate, in the hope of boosting their returns. As this article details, when choosing to...more

K&L Gates LLP

IRS Changes Position on Certain Income Earned by State-Chartered Credit Unions

K&L Gates LLP on

In a recent memorandum (found here), the IRS issued instructions to all exempt organization examiners on the applicability of unrelated business income tax (“UBIT”) to certain income earned by state-chartered credit unions...more

23 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide