|Full time Accounting Educator:||None|
IRS Notice 2018-99 contains new IRS guidance regarding how for-profit taxpayers determine deductible and non-deductible costs associated with employee and customer parking. Notice 2018-99 also contains guidance for not-for-profit organizations with respect to when these organizations generate UBTI by providing employee parking. Notice 2018-99 details the methods for-profit organizations can use to determine nondeductible parking expenses as well as specific guidance and transition relief for tax-exempt organizations.
Any tax practitioner who will advise a business owner or a not-for-profit regarding the new parking expense rules.
- Recognize which parking expenses are deductible and non-deductible
- Advise not-for-profit clients on how to compute unrelated-business taxable income relating to parking provided to employees
- How to determine deductible and non-deductible employee parking expenses
- Employee parking expenses that increase unrelated business taxable income for not-for-profit organizations
- Methods employers use to provide tax-free parking benefits to employees
- Expenses that are included as part of parking benefits provided to employees
- Expenses that are deductible and not subject to the disallowance rule
- Methodologies for determining nondeductible parking expenses
- The four-step methodology
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