by Dave Moja | Jul 3, 2019 | Tax Tips |
ISSUE For institutions that owed taxes on unrelated business income – including the “Parking Tax” – with a fiscal year (usually May 31 or June 30 for our institutions), there is a bizarre “twist” to the tax rate they paid for fiscal years ended in 2018....
by Dave Moja | Apr 24, 2019 | Tax Tips |
ISSUE At this point, if your institution has any parking spots that are reserved for employees, you will have an “increase in UBTI under § 512(a)(7)” and likely be required to file Form 990-T and pay some tax – even if you do not have any unrelated business...
by Dave Moja | Nov 7, 2018 | Tax Tips |
ISSUE The recently-released 2018 Draft Form 990-T instructions give guidance for institutions filing the form simply to pay the new “parking tax.” How does that work with the 2017 Form 990-T? SITUATION Marathon Bible College (MBC) is a private college exempt...
