Blog Archives: 2020

Refunds for Transportation Benefits Tax: What You Need to Know

In December 2019, the unrelated business income tax on transportation benefits organizations provide to employees was retroactively repealed. Since then, not-for-profits have eagerly awaited IRS guidance on how to obtain refunds for amounts already paid toward this tax. This week, the IRS indicated organizations should file an amended Form 990-T for each year the tax […]

Real World Examples of Occupational Fraud and What to Watch for

It may take two to tango, but it takes all three legs of the fraud triangle to commit occupational fraud, according to the research done by Donald Cressey in the 1950s. Cressey, a sociologist and criminologist, studied numerous occupational fraud cases during his career. He found that in nearly all of them, some element of […]

Repeal of Tax on Qualified Transportation Benefits 

In a pleasant year-end gift, Congress provided relief to tax exempt organizations through repeal of the tax on qualified transportation benefits. A package of government funding bills signed by the President on December 20, 2019 includes repeal of the tax assessed on transportation benefits, such as parking and bus passes, provided by exempt organizations to […]

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