IRS issues updated guidance on the new “Parking Tax” for non-profit organizations beginning in 2018

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Back in December of 2018, the IRS and Treasury released a notice on the new “parking tax” enacted under provisions of the 2017 Tax Cuts and Jobs Act (TCJA). How does this notice of proposed interim guidance affect not-for-profit, tax-exempt organizations? Consider the following case study describing the implications for one organization. Please be aware that this new parking tax provision is applicable for all types of nonprofits, not just §501(c)(3) organizations.   Please contact us for access to this article.