IRS Publishes Guidance for Employers on the Fringe Benefits Tax
In an attempt to limit the impact of a Tax Cuts and Jobs Act provision on nonprofit employers, including colleges and universities, the IRS and Treasury have issued interim guidance that includes a safe harbor for compliance. NACUBO continues to advocate for repeal of the provision.
IRS Issues Interim Guidance on Executive Compensation Excise Tax
The IRS recently published a lengthy and detailed notice on the new excise tax on employee compensation above $1 million paid by tax-exempt organizations. The interim guidance offers key definitions and explains how to report and pay the excise tax.
What Did I Miss in Washington? December 11, 2018-January 7, 2019
The government shutdown enters its third week, NACUBO seeks tax incentives for energy-efficient construction, a new law prohibits late fees charged to veterans, and more.