IRS Requests Comment on Draft Guidance for Tax Exempt Organizations With Multiple Sources of ‘Unrelated Business Income’

This week, the Internal Revenue Service released a notice requesting comments on draft guidance on tax-exempt organizations that have more than one unrelated business. The core of the guidance goes into how Unrelated Business Taxable Income (UBTI) would be applied to those organizations with multiple unrelated business lines and basically says that the losses of…

FTA Announces Lo-No Bus Grants

Today the Federal Transit Administration announced¬†$84.45 million in grant selections through the Low- or No-Emission (Low-No) Grant program. This program, authorized by the FAST Act, funds the deployment of transit buses and infrastructure that use advanced propulsion technologies.¬†Eligible projects include the purchase or lease of buses that are powered by modern systems such as hybrid…