A much-hated tax on not-for-profit organizations is on the way out. At the end of 2019, Congress repealed a provision of 2017’s Tax Cuts and Jobs Act (TCJA), which triggered the unrelated business income tax (UBIT) of 21% on not-for-profit employers that provide employees with transportation fringe benefits.

Unequipped to handle the additional administrative burdens and compliance costs, thousands of not-for-profits had complained — and legislators apparently listened.

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Continue Reading Repealed: UBIT on Transportation Fringe Benefits