dockets: IRS-2018-0038

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id agency_id title docket_type last_modified object_id rin dkabstract category subtype keywords program short_title effective_date organization attrs_raw attr_source
IRS-2018-0038 IRS Parking Expenses for Qualified Transportation Fringes under Section 274( a)(4) and Section 512 (a)(7) of the Internal Revenue Code (Notice 2018-99) Nonrulemaking 2020-01-08T11:06:34Z 0b00006483933c31   As amended by the Tax Cuts and Jobs Act, section 274(a)(4) generally disallows a deduction for expenses with respect to parking provided by taxpayers to their employees, and section 512(a)(7) generally provides that a tax-exempt organization’s unrelated business taxable income (UBTI) is increased by the amount of the parking expense that is nondeductible under section 274, beginning in 2018. The notice addresses how to determine the amount of parking expense that is nondeductible or treated as an increase in UBTI, and provides that taxpayers and exempt organizations generally may use any reasonable method to determine these amounts until further guidance is issued. The notice also announces that the Treasury Department and the IRS intend to publish proposed regulations under sections 274 and 512 and requests public comments on issues to be addressed in the proposed regulations.     ["Parking expenses, income taxes"]       CC {"displayProperties": [{"name": "organization", "label": "Organization", "tooltip": "Identifies docket's (a regulatory action) orginating agency and/or department, equivalents: Division, Pre-EDOCKET ID."}, {"name": "abstract", "label": "Description", "tooltip": "Describes an agency's specific regulatory action; equivalents: Abstract, Docket Subject, General Info, Related To, Summary."}], "keywords": ["Parking expenses, income taxes"], "modifyDate": "2020-01-08T11:06:34Z", "dkAbstract": "As amended by the Tax Cuts and Jobs Act, section 274(a)(4) generally disallows a deduction for expenses with respect to parking provided by taxpayers to their employees, and section 512(a)(7) generally provides that a tax-exempt organization\u2019s unrelated business taxable income (UBTI) is increased by the amount of the parking expense that is nondeductible under section 274, beginning in 2018. The notice addresses how to determine the amount of parking expense that is nondeductible or treated as an increase in UBTI, and provides that taxpayers and exempt organizations generally may use any reasonable method to determine these amounts until further guidance is issued. The notice also announces that the Treasury Department and the IRS intend to publish proposed regulations under sections 274 and 512 and requests public comments on issues to be addressed in the proposed regulations.", "agencyId": "IRS", "program": null, "shortTitle": null, "subType2": null, "title": "Parking Expenses for Qualified Transportation Fringes under Section 274( a)(4) and Section 512 (a)(7) of the Internal Revenue Code (Notice 2018-99)", "generic": null, "field1": null, "docketType": "Nonrulemaking", "petitionNbr": null, "rin": null, "organization": "CC", "legacyId": null, "subType": null, "category": null, "field2": null, "effectiveDate": null, "objectId": "0b00006483933c31"} single_get

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