IRS outlines new tax law effect on tax exempt organizations
The Internal Revenue Service wants tax-exempt organizations to know about recent tax law changes that might affect them. The Taxpayer Certainty and Disaster Tax Relief Act, passed on December 20, 2019, includes several provisions that may apply to tax-exempt organizations' current and previous tax years.
\n1. Repeal of "parking lot tax" on exempt employers\n2. Tax simplification for private foundations
\n3. Exclusion of certain government grants by exempt utility co-ops
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