26 Dec Church and Nonprofit Parking Tax Repeal Possible
On December 16, 2019, U.S. lawmakers struck a tax-policy deal. As part of the package, lawmakers agreed to repeal a part of the 2017 Tax Reform law that charged churches and nonprofits taxes for offering parking to their employees.
It appears that if the nonprofit parking tax repeal is passed, it will have a retroactive impact—it would be as if it had never been enacted. The bill passed the House and now goes to the Senate. If approved by the Senate, it goes to the President for signature. the Evangelical Council on Financial Accountability (ECFA) have cautious optimism that the parking tax will finally be repealed and provide the relief needed by churches and nonprofits for the last two years.
The ECFA focused on the repeal of this tax in early 2018, amassing the signatures of over 2,700 organizations to a sign-on letter, which was personally delivered on Capitol Hill. The ECFA is appreciative to all the organizations that later joined the fight against this tax.
This article has been adapted from the Evangelical Council on Financial Accountability (ECFA) Blog.
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