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Providing Solutions On Your Path to Innovation

Achieving Success When Selling to the World’s Largest Buyer

Providing Solutions On Your Path to Innovation

Achieving Success When Selling to the World’s Largest Buyer

Providing Solutions On Your Path to Innovation

Achieving Success When Selling to the World’s Largest Buyer

Providing Solutions On Your Path to Innovation

Achieving Success When Selling to the World’s Largest Buyer

Providing Solutions On Your Path to Innovation

Achieving Success When Selling to the World’s Largest Buyer

Federal Tax Reform: Opportunity Zones

Community Revitalization by Rewarding Private Investment

Section 199A Deduction for Pass-Through Entities

A Deduction of Up to 20% of Qualified Business Income

THIncIT

Leveraging Technologies to Improve 
Efficiency

How Can We Guide You?

Cherry Bekaert

IRS Issues Parking Tax Preliminary Guidance

Back in December, the Internal Revenue Service (“IRS”) issued preliminary guidance that proposes clarifications to when nonprofit organizations should pay a 21 percent unrelated business income tax on employer expenses associated with employee parking. The notice tells nonprofits to use a four-step calculus for applying a value on taxable parking spaces. Another notice permits tax penalty waivers for nonprofits that did not submit quarterly estimated tax payments regarding those transportation benefits.

The IRS had not issued any guidance or relief for applying the tax on other transportation benefits like subway or bus passes. Nonprofits impacted by the tax on parking expenses can submit comments to the IRS until Friday.