Last year’s tax overhaul included a law that set a 21 percent tax rate for nonprofits on so-called fringe benefits — such as free parking and fare for mass transit — they provide to employees. 

The Internal Revenue Service moved to soften the hit from a controversial provision in last year’s tax overhaul that imposes a tax on some coveted benefits for employees at nonprofits.

The law sets a 21 percent tax rate for nonprofits on so-called fringe benefits — such as free parking and fare for mass transit — they provide to employees. Previously, nonprofits didn’t have to pay tax on the perks. Religious groups have pressured top Republican leaders, including House Ways and Means Chairman Kevin Brady, to repeal the tax this year.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

 

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.