Action Needed on Transportation UBIT

Last year’s Tax Cuts and Jobs Act imposed a 21-percent unrelated business income tax (UBIT) on nonprofits for expenses they incur in providing their employees with transportation fringe benefits, such as parking and transit passes. The new tax went into effect January 1, 2019. There is bipartisan support for repealing this tax on tax-exempt organizations. Bills pending in the 116th Congress, H.R. […]