New Tax Related Parking Rules (2 hours)

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Jul 31, 2020

Registration: 6:30 AM / Program: 7:00 AM - 9:00 AM Pacific Time

Fees

Member Fee: $0.00
Nonmember Fee: $0.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: None

Description

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.

Designed For

Any tax practitioner who will advise a business owner or a not-for-profit regarding the new parking expense rules.

Objectives

  • 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

Major Subjects

  • 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

This event has already passed. If you have any questions, please contact us at 503-641-7200 or email profdev@orcpa.org.