“The ‘ultimate nightmare scenario’ for this historic Miami church: A $7 million tax bill” The Miami Herald reports on the case here. The church is operating a pre-K–8 school run by a for-profit, third-party administrator.
Category: UBIT
“How to Determine Whether or Not You Pay the ‘Parking Lot Tax'”
“How to Determine Whether or Not You Pay the ‘Parking Lot Tax’: An update on the taxation of qualified transportation fringe benefits” The 2017 Tax Cuts and Jobs Act included a provision that requires charities to treat transportation benefits as unrelated business income. The I.R.S. issued long-awaited guidance on that provision in Notice 2018-99. ChurchLaw&Tax has an overview here.