On December 10, 2018, the Internal Revenue Service (“IRS”) announced “interim guidance regarding the treatment of qualified transportation fringe benefit expenses paid or incurred after December 31, 2017.”1 As part of this guidance, the IRS has addressed how nonprofit organizations should calculate the amount of unrelated business income they must report because of changes made by the Tax Cuts and Jobs Act to the tax treatment of certain employer-provided fringe benefits, including “qualified parking.”
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