Decision to end the tax applauded by many nonprofit groups A repeal of a tax on transportation and parking benefits for nonprofit employees has cleared Congress. Lawmakers created the unrelated business income tax on transportation benefits in 2017 when they passed the Tax Cuts & Jobs Act. The tax is equal to 21% of the total value of the transportation and parking benefits provided as a subsidy to employees or funded through a pretax payroll deduction, according to an analysis by the Association for Commuter Transportation. The nonprofit community has been lobbying to end the tax, and a proposed repeal was included as part of a spending bill approved by both chambers… Read More