Parking and UBIT: Where We Are Today

ISSUE It appears that the IRS may be close to providing guidance on the “pay taxes on your costs of employee parking” provision in I.R.C. Section 512(a)(7) – and it may include penalty relief.   SITUATION Marathon Bible College (MBC) is a private...

Update on Suspended Moving Expenses

ISSUE Tax reform – the 2017 “TCJA” – rendered moving expenses nondeductible and employee reimbursements of moving expenses taxable after 12/31/17.  Now, the IRS has clarified the treatment of 2017 moving expenses paid in 2018.   SITUATION Troas Bible College...