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Is your organization eligible for the Employee Retention Credit?
Employers may be eligible for an employee retention credit (“ERC”) for qualified wages paid to employees from March 13, 2020 through December 31, 2021.[1] Eligibility Employers may qualify to claim the ERC if they can establish a decline in gross receipts for 2020 greater than 50% compared to a corresponding quarter in 2019 or, for…
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Supreme Court Update: Title VII Prohibits Employment Discrimination Based on Sexual Orientation and Gender Identity
On Monday, June 15, 2020, the United States Supreme Court held in a 6-3 majority that federal law prohibits employers from discriminating against employees because of their sexual orientation or gender identity. The Court’s opinion in Bostock v. Clayton County, written by Justice Neil Gorsuch, considered whether the prohibition against employment discrimination because of sex…
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FAQs: Nonprofits and Political Activity
With the 2020 presidential election less than five months away and many local and state elections happening now, it’s a good time to review the rules on the prohibition against political activity for tax-exempt organizations. In this post, we’ll answer some frequently asked questions related to political activity by 501(c)(3) organizations, including public charities, private…
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A Walk in the Parking Lot Repeal of the “Parking Tax”
The Further Consolidated Appropriations Act, 2020, retroactively repealed section 512(a)(7) of the Internal Revenue Code (“IRC”), which imposed unrelated business income tax (“UBIT”) of 21 percent on certain parking and transportation fringe benefits provided by tax-exempt organizations. This repeal is a much-welcomed relief, especially with tax reporting season quickly approaching. Section 512(a)(7) was extensively criticized…
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Parking Tax Repealed: How to Request a Refund
The Tax Cuts and Jobs Act of 2017 imposes a new tax on certain employee fringe benefits paid by a nonprofit organization, including transportation and qualified parking. This law, codified in section 512(a)(7) of the Internal Revenue Code, imposes unrelated business income tax (“UBIT”) on many nonprofits that merely provide parking for their employees. A…
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The EU GDPR: What Your US Organization Needs to Know
The European Union General Data Protection Regulation (GDPR) is a set of comprehensive regulations governing the processing of personal information of individuals across Europe. Going into effect on May 25, 2018, the GDPR’s sweeping regulations will greatly expand the applicability of the laws currently in place. The GDPR will apply to all organizations that process…
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