May 1, 2018 – Read here for NPCC’s letter to Treasury and IRS demanding an immediate delay implementing the two new UBIT subsections (taxes on fringe benefits and taxes on separate “trade or business”) of the new federal tax law, retroactive to January 1, 2018, until one year after Final Rules are promulgated to provide both the necessary official guidance for compliance and a reasonable transition period for nonprofits to develop the necessary record-keeping systems.
