New Guidance on UBTI From Parking Expenses – A Deep Dive
Attendees learned about recent IRS guidance regarding the treatment of amounts paid to provide qualified transportation benefits to employees as unrelated business taxable income. Even organizations that don’t pay third parties for parking could be affected. Our instructors shared some of the questions raised by educational institutions and other nonprofits in trying to interpret Notice 2018-99. They also shared the resulting analysis and considerations in trying to arrive at a “reasonable method” for calculating UBTI under this new tax provision until final regulations are issued.