Tax Cuts and Jobs Act, Tax Exemptions, Employee Benefits

The One Big Beautiful Bill: Top Tax Takeaways for Nonprofits

Patterson Belknap Webb & Tyler LLP on 7/25/2025

President Trump’s sweeping package of domestic legislation, H.R. 1 (originally titled the One Big Beautiful Bill Act (the “OBBB”)), became law on July 4, 2025. In addition to dramatically reshaping the landscape for...more

New Excise Tax For Tax-Exempts Can Ensnare For-Profit Employers: Comment Deadline Fast Approaching

Proskauer - Employee Benefits & Executive... on 3/14/2019

As discussed, the IRS’s initial interpretation of a new excise tax under Section 4960 of the Internal Revenue Code could catch for-profit employers who set up foundations, trusts, PACs, and other tax-exempt entities off...more

IRS Notice Provides Guidance for Exempt Organizations on Excise Tax

Holland & Knight LLP on 2/4/2019

• The Internal Revenue Service (IRS) released IRS Notice 2019-09 (Notice) offering guidance under Section 4960 of the Internal Revenue Code as added by the Tax Cuts and Jobs Act. • Section 4960 applies to certain...more

Good News / Bad News: The IRS has Released Interim Guidance Regarding the New Excess Compensation Excise Tax Applicable to...

Seyfarth Shaw LLP on 1/14/2019

Just in time for the New Year and notwithstanding the government shutdown, on December 31, 2018, the Internal Revenue Service (“IRS”) issued Notice 2019-09 (the “Notice”), which provides interim guidance on the new excise tax...more

Free Parking Only Exists in Monopoly: New IRS Guidance Makes Employer-Provided Parking More Costly and Burdensome Than You Think

McDermott Will & Schulte on 12/19/2018

As part of its comprehensive 2017 tax reform bill, Congress repealed deductions for Qualified Transportation Fringes including for employer-provided parking, while also requiring that tax-exempt organizations increase their...more

Changes in the Tax Cuts and Jobs Act of 2017 that Impact Individual Taxpayers for Non-Business Items

Stinson LLP on 1/9/2018

The Tax Cuts and Jobs Act of 2017 makes substantial changes to the income taxes of individuals. The Act's individual changes noted in the attached chart generally expire on January 1, 2026, and the speculation will...more

The Final Tax Cuts and Jobs Act’s Effects on Executive Compensation and Employee Benefit Practices

Morrison & Foerster LLP on 1/9/2018

On December 20, 2017, the Tax Cuts and Jobs Act (the “Act”) was approved by Congress, and it was signed into law by President Trump on December 22, 2017. The Act dramatically impacts certain aspects of executive compensation...more

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