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Parsing the Parking Pickle: IRS Issues New Guidance on Employee Parking UBIT

The IRS has issued preliminary guidance on an unexpected and controversial provision of the Tax Cuts and Jobs Act (the “Act”): a new UBIT tax on non-profit employee parking.

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Attorney General Issues Guidance on Sale of Non-Profit Nursing Homes

Earlier this month, the New York Attorney General issued a new guidance document regarding the sale of non-profit nursing homes to for-profit buyers.  

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IRS Issues UBIT Siloing Guidance

As described in my prior post, under revisions to Section 512 of the Code, taxpayers may no longer offset unrelated trade or business losses from one trade or business against income or gains from another trade or business.

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IRS Changes Donor Disclosure Requirements for Non-Charitable Exempts

On July 16th, the IRS issued controversial guidance eliminating the requirement for non-charitable exempt organizations to report the names of contributors on their tax returns.

The guidance is the end, for now, of a simmering political controversy relating to information available to the government regarding “dark money” and donations to non-charitable exempt organizations.    

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Mark to Market Guidance Issued for College and University Investment Excise Tax

Under the Tax Cuts and Jobs Act, colleges and universities with endowments over $500,000 per student are now required to pay a 1.4% excise tax on investment earnings. 

The IRS has now provide guidance that will take a bit of the bite out of this new tax -- at least at first.

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