Alert Sep 14, 2020 IRS Issues New Form 990-T for Tax Year 2020 The IRS recently released drafts of Form 990-T and Schedule A for the 2020 tax filing year. Read on to see what changed. Read More
Alert Apr 28, 2020 IRS Proposes Rules to Help Nonprofits Calculate Their Taxes Nonprofit organizations are required to calculate unrelated business taxable income (UBTI) separately for each trade or business under IRC… Read More
Article Sep 23, 2019 Illinois Repeals Unrelated Business Income Tax on Transportation & Parking Fringe Benefits Under the Tax Cuts and Jobs Act, qualified transportation fringe benefits are taxable for not-for-profit (NFP) organizations, causing these… Read More
Alert Dec 13, 2018 IRS Releases Guidance on Qualified Transportation Fringes The IRS recently provided interim guidance on qualified transportation fringe benefits, which includes information on the calculation of… Read More
Alert Sep 06, 2018 Guidance Released for UBIT Reporting by Activity Under the Tax Cuts and Jobs Act, a significant change occurred that requires unrelated business taxable income to be calculated separately… Read More
