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Industry Alerts

We keep a close eye on important developments that could affect your organization, and distribute this information to our clients through industry alerts.

Apr 9, 2018 Update: Tax Cuts and Jobs Act's Impact on Tax-Exempt Organization
 

Despite all the attention around the Tax Cuts and Jobs Act (TCJA), many questions remain unanswered with respect to the new tax law enacted in December. Among the most commonly asked questions is whether post-December 31, 2017 parking/commuting expense payments made by employers from employee salary deferrals are unrelated business income (UBI). While an Internal Revenue Service (IRS) spokesperson recently stated that guidance is expected in June 2018, the IRS has not yet issued any official guidance on this issue. In the meantime, the IRS has updated Publication 15-B, Employer’s Guide to Fringe Benefits, in a manner that sets forth what we believe to be the current IRS position regarding pre-tax benefits. Set out below are key considerations and practical recommendations to help you prepare your organization for the potential impact of these provisions.

Dec 21, 2017 Tax Cuts and Jobs Act's Impact on Tax-Exempt Organizations
 

The newly passed Tax Cuts and Jobs Act (the Act) was sent to the President for signature yesterday and is expected to be signed into law in early January.  The Act contains many provisions (most taking effect in 2018) that impact tax-exempt organizations.  There will undoubtedly be comprehensive analyses addressing the changes followed by guidance from the IRS on its interpretation of the new law. However, there are several significant provisions in the Act that we believe tax-exempt organizations should be aware of now heading into the New Year.

Nov 16, 2017 Monitoring Tax Reform for Our Clients
 

With last week’s release of the Senate package and the House of Representatives voting today on their bill, Congress remains intent on passing tax reform legislation before the end of the year. GRF will be scheduling a webinar in January to summarize major changes pending a late December passage of tax reform legislation. Upcoming events are posted on our website here.

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