by Dave Moja | Jan 29, 2020 | Tax Tips |
ISSUE We are still celebrating the retroactive repeal of the “Parking Tax.” Last week the IRS published instructions for filing amended Form 990-Ts for the years where refunds are now due. Congress had asked the IRS to “establish an expedited process.” This fell...
by Dave Moja | Jan 15, 2020 | Tax Tips |
ISSUE With the “Parking Tax” retroactively repealed, how do those institutions who paid this tax over the past few years apply for a refund? SITUATION Marathon Bible College (MBC) is a private college exempt under Internal Revenue Code section 501(c)(3) and...
by Dave Moja | Dec 25, 2019 | Tax Tips |
ISSUE The “Parking Tax” (I.R.C. Section 512(a)(7)) is being retroactively repealed this week. Thanks to Congress. But just begin to imagine the time, dollars, and brain toil we’ve all wasted – especially the already overburdened IRS – on this insane, ludicrous...
by Dave Moja | Oct 9, 2019 | Tax Tips |
ISSUE Historically, exempt organizations have been able to deduct charitable contributions (subject to limits) on Form 990-T, Part II, Line 20. This left a question with regard to this deduction and the “Parking Tax.” With the release of the draft 2019 Form 990-T,...
by Dave Moja | Jul 24, 2019 | Tax Tips |
ISSUE Congress keeps stumbling around in vain attempts to “help undo the harm the 2017 tax law is causing nonprofits.” Bills continue to be introduced to repeal the “Parking Tax,” silo-ing, and other foibles. SITUATION Marathon Bible College (MBC) is a private...
