As a part of a year end deal on tax issues, Congress repealed a provision of the 2018 tax reform bill which requires tax-exempt organizations to pay taxes (21%) on parking and transit benefits that they provide to employees. The provision, known at UBIT (Unintended Business Taxable Income) created a transit and parking tax for…
The House Ways & Means Oversight Subcommittee will hold a hearing on “Ending the TCJA Tax on Houses of Worship, Charities, and Nonprofits.” The hearing will take place Wednesday, June 19, 2019 at 2:30 p.m. in room 1100 of the Longworth House Office Building. The Committee is inviting stakeholders to submit testimony. Details on testimony submission can…
The IRS, in conjunction with the US Department of Treasury Office of Tax Policy, issued Notice 2019-30 inviting the public to make recommendations on items that should be included in the IRS’s 2019-20 Priority Guidance Plan. This plan is “issued to identify and prioritize the tax issues that should be addressed through regulations, revenue rulings,…
On March 1st, New Jersey Governor Phil Murphy signed into law the nation’s first state-wide commuter benefits ordinance. This law, passed with bi-partisan support by the New Jersey Legislature, establishes a transit benefit ordinance that requires employers to offer pre-tax transportation benefits. New Jersey now joins San Francisco, the nine-county SF Bay Area, New…
Recently, NJ Governor Phil Murphy signed into law the nation’s first state-wide transit benefit ordinance. Join us for a discussion on how your municipality or state can implement this important action that promotes mobility and congestion reduction which providing tax savings to employers and employees. The goal of this webinar is to demonstrate…
The Coalition for Smarter Transportation (CoaST) and Best Workplaces for Commuters (BWC) will host a webinar on ‘A Parking Tax? How New IRS Rules Impact Employers’. During this webinar, staff from CoaST and BWC will review how the Department of Treasury’s recent guidance on parking will impact employers. During the webinar, presenters will: Provide…
On December 10th, Governor Cuomo (D-NY) signed legislation that decouples New York State tax law from Federal tax law as it pertains to transportation fringe benefits offered by tax-exempt organizations. Following Tax Cuts and Jobs Act of 2018, tax-exempt organizations are subject to adding the value of parking, and transportation fringe to their unrelated business…
CoaST Review of IRS Guidance on Employer-Provided Parking This week, the IRS issued guidance to employers on how they should administer changes made by tax reform regarding employer-provided parking and parking fringe benefits. The guidance also dives into how tax-exempt organizations are to deal with the change in tax law. During the presentation, CoaST staff will…
The Department of Treasury has released guidance regarding employer-provided parking, parking fringe benefits, and information regarding the status of how tax-exempt organizations are to handle changes to fringe benefits and unintended business tax. The guidance can be found below. It should be noted that the IRS will waive penalties and fees for organizations that have not paid…
A group of prominent employers in the greater Washington DC region released a blueprint calling for investment in smarter transportation. The document, entitled Capital Region Blueprint for Regional Mobility makes numerous recommendations including: Modernizing Intercity and Commuter Rail Improve Roadway and Trail Performance – including enhancing congestion pricing Create High-Performing Public Transit Grow Employer Mobility Programs Expand…