Tag Archives: UBIT

IRS Guidance on Qualified Transportation Fringe Benefits and UBIT

On December 10, 2018, the Internal Revenue Service (IRS) issued interim guidance on the treatment of qualified transportation fringe benefit expenses under the Tax Cuts and Jobs Act (TCJA). According to the IRS press release: The new rules assist taxpayers in … Continue reading

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Guidance Slowing Appearing for UBIT & Excess Compensation TCJA Provisions

In its August 2018 Update for the 2017-18 Priority Guidance Plan, Treasury and the IRS identified only two exempt organization specific items from the Tax Cuts and Jobs Act (TCJA) as needing guidance this fiscal year: "computation of unrelated business… … Continue reading

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IRS Guidance on UBIT Silos – 512(a)(6) – PART II

In Part I of this two-part article on IRS Notice 2018-67 regarding the calculation of unrelated business taxable income (UBTI) under the Tax Cuts and Jobs Act (TCJA), we discussed the need to separate different lines of unrelated business activities, which is now required … Continue reading

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GOP 2017 Tax Act Forces Nonprofits to Pay UBIT on Some Fringe Benefits

By: Philip Hackney In the new tax act of 2017, Congress imposed an unrelated business income tax on transportation and athletic facility fringe benefits that the nonprofit provides to its employees. I write because I suspect there are universities or … Continue reading

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