University Transportation Working Group Call – Thursday November 8th 3:30 PM EDT

The University Transportation working group of the Coalition for Smarter Transportation will meet on Thursday, November 8th at 3:30 PM EDT. During the call, the following issues will be discussed: 1) Update on UBTI Post-election 2) Discuss other issues that CoaST would like to tackle i.e. town/gown, parking, and university transportation etc. 3) Develop 2019…

IRS Requests Comment on Draft Guidance for Tax Exempt Organizations With Multiple Sources of ‘Unrelated Business Income’

This week, the Internal Revenue Service released a notice requesting comments on draft guidance on tax-exempt organizations that have more than one unrelated business.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…

Support Legislation to End the Penalty on Non-Profits for Offering Transportation Options

The Tax Cuts and Jobs Act signed into law last December, more commonly referred to as tax reform, made several changes to the transportation fringe benefit (IRC Sec. 132(f)). The legislation maintained the parking and transit tax benefits for individuals.  However, it also made the transportation fringe benefit more expensive for non-profits and universities that…