Podcast: Tax Reform and Its Impact on Exempt Organizations, One Year In
Podcast - New Unrelated Business Taxable Income Liability for Providing Certain Fringe Benefits
On July 28, 2023, Governor J.B. Pritzker signed into law House Bill No. 2068, “Transportation Benefits Program Act” (“Illinois Transit Law”), which requires employers to offer pre-tax transportation fringe benefits (“Transit...more
On April 27, 2020, the District of Columbia enacted the D.C. Transportation Benefits Equity Amendment Act of 2020. The new law requires certain D.C. employers to reduce the number of employees who commute into the city by...more
Late on Friday, December 20, 2019, President Trump signed into law government funding legislation for the 2020 fiscal year that includes a provision repealing Section 512(a)(7), commonly referred to as the “parking tax.”...more
Good news to close out the year: The “Further Consolidated Appropriations Act, 2020” (H.R. 1865 - the “2020 Act”) retroactively repeals the much maligned tax on qualified transportation fringe benefits (the so-called “church...more
The federal Tax Cuts and Jobs Act of 2017 eliminated a federal tax deduction for employers which had allowed them to deduct the cost of providing qualified transportation benefits to employees (thereby removing the tax...more
New Jersey will soon become the first state to require certain employers to offer employees tax-favored transportation benefits. S.B. 1567, also known as An Act Concerning Pre-Tax Transportation Fringe Benefits (the...more
Do you provide parking for your employees? If so, take note: the expense has gone up (and, for tax-exempt employers, may now result in additional tax liability!)....more
Two recent Treasury Notices provide interim guidance to nonprofits trying to calculate (or seeking to avoid) the tax they may have to pay for the provision of certain parking and public transit benefits to their employees,...more
The IRS issued two pieces of interim guidance with respect to the new treatment of qualified transportation fringe benefits following the changes made by the Tax Cuts and Jobs Act (Tax Act). The Tax Act required parking...more
As discussed in a prior WorkCite article, the recently enacted Consolidated Appropriations Act, 2016 (the Act) permanently removed the disparity between the taxation of (i) commuter vehicle/transit benefits and (ii) qualified...more
On Friday, December 18, 2015, when President Obama signed the Protecting Americans from Tax Hikes (PATH) Act into law, one of the provisions included in the law made the monthly limit on qualified transportation benefits for...more
New York City’s new Mass Transit Benefits Law (MTBL) takes effect on January 1, 2016. The law requires covered firms to offer eligible employees the opportunity to use pre-tax income to pay for certain qualified transit...more
Employers with employees located in the District of Columbia must provide a transportation benefit program to employees by January 1, 2016. This mandatory commuter benefit is among many environmental and sustainability...more
The New York City Transit Act (the “Transit Act”) will go into effect on January 1, 2016. The Transit Act requires that employers with 20 or more full-time employees (those who work on average 30 or more hours a week) in New...more
Beginning January 1, 2016, covered employers in the District of Columbia will need to comply with a new requirement to provide employees with a transportation benefit program. The requirement is set forth in Subtitle A of...more