Nonprofits can now receive a refund of Parking Taxes paid in 2017 and 2018. The 2017 Tax Cuts and Jobs Act imposed the so-called “Parking Tax” on nonprofits. The Parking Tax required nonprofits to pay a new form of unrelated business income tax (“UBIT”) on amounts they incurred for providing transportation and parking benefits to …
Since its inception, confusion has reigned with regard to the Parking Tax. Earlier this week, the IRS issued long-awaited guidance on the Parking tax. That guidance may even give your nonprofit a break (and maybe a tax-break). Before we go further, are you asking, What Parking Tax? In the 2017 Tax Cuts and Jobs Act, …
Katie Hill, former Executive Director of our client, PATH, was elected to Congress earlier this month. She will be representing California’s 25th District. The district serves Katie’s home town of Santa Clarita and other communities in northern Los Angeles and Ventura Counties. We had the pleasure of working with and getting to know Katie when …
