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Congress Agrees to $2 Trillion Coronavirus Relief Bill

On Wednesday, March 25, 2020—after days of debate—Congress agreed to a $2 trillion economic rescue package designed to provide financial assistance to Americans and their families, and billions of dollars in loans for businesses. Voting is expected midday. The package … Continue reading

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Congress Repeals UBIT on Non-Profits with Transit Plans

Congress Repeals Unrelated Business Income Tax for Tax-Exempt Entities Offering Qualified Transportation Fringe Benefits As part of the Further Consolidated Appropriations Act, 2020 (the “Act”), Congress repealed Section 512(a)(7) of the Internal Revenue Code of 1986 (the “Code”). This Code … Continue reading

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