A few days before Christmas, Congress gave churches and other nonprofits a break by repealing the so-called “parking lot tax” that was an unintended side effect of the 2017 Republican tax cut measure.
President Donald Trump signed the repeal into law.
The measure would have required houses of worship and other nonprofits to pay a 21 percent tax on employee benefits such as parking spaces and transit subsidies, according to the website CatholicPhilly.com . The repeal was a part of appropriations bills for the new year, passed by both the House and Senate. The bill requiring the repeal was sponsored by Rep. Bill Pascrell, Jr. (D-NJ). Since the bill is retroactive, the IRS will provide instructions on how churches can claim a refund on taxes they paid for the last two years because of the “parking lot tax.” Churches […]
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