Print Friendly, PDF & Email


House Passes Agreement to Repeal Tax on Nonprofit Parking, Transportation Fringe Benefits

House Passes Agreement to Repeal Tax on Nonprofit Parking, Transportation Fringe Benefits

AAFCPAs is excited to share with our nonprofit clients and their dedicated employees, on December 17, 2019, the House of Representatives passed an agreement (cited as the Taxpayer Certainty and Disaster Tax Relief Act of 2019, originally introduced in June 2019), which includes much welcomed provisions to repeal the tax on nonprofit transportation fringe benefits […]

AAFCPAs Shares Tax Expertise at MNN Annual Conference

AAFCPAs will happily present an educational workshop on How New Federal Tax Laws Impact Nonprofits at The Massachusetts Nonprofit Network’s (MNN) 2019 Annual Conference in Framingham, MA on October 16th. Tax Update: How New Federal Tax Laws Impact Nonprofits The IRS issued new guidance related to the Federal Tax Cuts & Jobs Act’s (TCJA) widespread […]

Viewpoint: Nonprofits should stay vocal about transportation 'tax'

Viewpoint: Nonprofits should stay vocal about transportation 'tax'

Boston Business Journal | “Organizations are tax-exempt for a reason: to optimize their abilities to benefit society,” says Carla McCall, CPA, CGMA, AAFCPAs’ Co-Managing Partner. In this op-ed, Carla urges nonprofits to participate in the survey to show Congress how detrimental the original provision in the TCJA was to their mission.

AAFCPAs Urges Repeal of Nonprofit Transportation Tax

AAFCPAs Urges Repeal of Nonprofit Transportation Tax

AAFCPAs has sent a letter to Congressman Richard Neal (D-Mass.), Chair of the tax-writing Ways and Means Committee, asking him to lend his support to nonprofits by helping to repeal Internal Revenue Code Section 512(a)(7). Section 512(a)(7) of the new tax code requires nonprofits to now pay a burdensome tax on parking and transportation fringe […]

Updates for Nonprofits under the New Tax Act

This blog was revised on 10/10/19. AAFCPAs would like to make Tax Exempt Organizations aware of recent legislative and regulatory updates related to the Tax Cuts and Jobs Act, (“TCJA”) and how these may affect charitable nonprofits. What is Considered a Nondeductible Parking Expense that will now Trigger Unrelated Business Income Tax (UBIT)? On December […]

Cautionary Tales: When year-round communication is left out of tax planning

The pace of change in business is rapid, and as you know, executive leadership must be poised to quickly respond to challenges and seize opportunities as they arise. Often, decisions made throughout the year in response to challenges and opportunities have tax implications. In some cases, the tax benefits of these decisions have windows of […]

How Your Form 990 May Trigger an Audit

AAFCPAs would like to make our clients aware that the IRS is now taking a data-driven approach to reviewing the Form 990, Return of Organization Exempt From Income Tax, to scrutinize governance, accountability and oversight of exempt organizations.   The IRS’s Exempt Organizations (EO) compliance specialists are now using data queries to better focus their examination […]