Bipartisan support to repeal a 21 percent tax on fringe benefits, include free parking and mass-transit assistance, is growing. Meanwhile, a new report commissioned by Independent Sector reveals the impact of the tax on nonprofits.
Nonprofits are concerned about negative effects that could come from a new California law regulating how organizations collect and use personal data. The Nonprofit Alliance is looking to amend the law and pressing for "carefully crafted" federal privacy legislation.
A provision in the tax law passed last year made associations subject to a 21 percent excise tax on executive compensation over $1 million paid to the five top-earning executives. In a letter delivered to the Treasury Department on December 3, ASAE asked the agency to reduce the impact of the excise tax.
While some worried that association health plans would hurt ACA markets and consumers, a review of documents for several new or expanded AHPs by Modern Healthcare found that they offer a range of deductibles and cover each of the essential health benefits.
Acting on an executive order issued by President Trump in August, the Department of Labor has proposed a new rule to allow small businesses to pool together to offer retirement plans to workers.
The introduction of two bills last week shows that lawmakers are increasingly aware of the need to fix a provision in the new tax law that requires tax-exempt organizations to pay taxes on employee parking and transportation benefits.
Associations are getting snagged by states scrutinizing licensing.
A provision in the tax law passed last year eliminated a deduction for transportation and other fringe benefits provided by employers. The UBIT Coalition, which includes ASAE and 40 other tax-exempt organizations, continues to ask the Treasury department to delay its implementation.
Security changes, including the travel ban, pose challenges for business travelers and association meetings.
After a challenging struggle to take on health care reform, Congress refocuses its efforts on tax reform, an equally difficult problem.