It taxed transportation benefits employers give workers, such as providing free parking in areas where people normally pay to park.
With the repeal, nonprofit organizations will be able to obtain a refund of the taxes they already paid in 2017 or 2018 due to the now-repealed provision. To claim a refund or credit, the IRS instructs nonprofits to file an amended Form 990-T. Refer to the IRS instructions for filing the amended Form.
For more information, please refer to this article by Church Law & Tax.
February 2020
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2024 Brotherhood Mutual
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2024 Brotherhood Mutual