Tax reform for exempt organizations
How the newly enacted tax law may affect your tax-exempt organization
RESOURCE CENTER |
The recently enacted Tax Cuts and Jobs Act (TCJA) has produced widespread changes in the tax law, including many that will affect tax-exempt organizations. Our resource center features the latest in developments related to the potential effects of the new tax law for exempt organizations.
For additional insight and resources, please visit our tax reform resource center for all industries.
View our comprehensive podcast to learn more about the final provisions affecting exempt organizations under the Tax Cuts and Jobs Act.
Latest version of Tax Cuts and Jobs Act provides some relief to tax-exempts on one hand but eyes big changes on the other.
Highlights of the provisions in the Senate Committee on Finance proposal that may affect tax-exempt organizations.
The tax reform legislative process was formally kicked off Nov. 2, 2017, with the release of H.R. 1, the Tax Cuts and Jobs Act.
Section 4960 proposed rules add examples and clarity while generally following interim guidance and providing taxpayer-friendly exceptions.
Exempt organizations may carryback siloed NOLs to tax years beginning before 2018 and apply them to net unrelated business income.
Instructions for claiming a refund or credit, or adjust Form 990-T for qualified transportation fringe of unrelated business income tax.
The IRS released Notice 2019-09 providing guidance to assist taxpayers in implementing new executive compensation rules under section 4960.
The IRS provides guidance to assist in determining expenses for parking fringe benefits for purposes of section 274(a)(4) and 512(a)(7).
The IRS has recently issued Notice 2018-67, providing interim and transition rules for determining UBTI for separate trades or businesses.
Potential tax increase for exempt organizations hidden in the TCJA as part of the corporate tax cut.
Exempt corporations with a fiscal year end will be subject to a blended federal tax rate for their fiscal year ending in 2018.
Provision in the Tax Cuts and Jobs Act enacts excise tax on exempt organization compensation paid over $1 million per year.
Certain fringe benefits now required to be included in exempt organizations’ unrelated business income subject to tax