H.R.1545: To amend the Internal Revenue Code of 1986 to repeal the inclusion of certain fringe benefit expenses for which a deduction is disallowed in unrelated business taxable income.

Overview

H.R. 1545 would modify IRS requirements for determining the unrelated business taxable income UBIT of tax-exempt organizations. The bill repeals a provision that requires UBIT to be increased by the amount of expenses paid or incurred by a tax-exempt organization for certain fringe benefits for which a tax deduction is not allowed, including benefits relating to transportation, parking, or an on-premises athletic facility.

UBIT repeal was incorporated into the National Law Enforcement Museum Commemorative Coin Act, which became law in December of 2019.

Our Stance

Support

Priority

High

Bill Number

H.R.1545

Date Introduced

March 05, 2019

Committee

House Ways and Means Committee

Bill Status

Introduced or Prefiled