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 employees. Repeal is retroactive, and organizations should stay tuned for IRS guidance on the process for obtaining refunds for tax paid throughout 2018 and 2019.
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