February 5, 2020 – In 2018, the Tax Cuts and Jobs Act (the Act) imposed an excise tax on qualified transportation benefits provided to employees by tax-exempt organizations– The Act left all of us scratching our heads! See our original blog post here.
Congress has realized this transportation tax on not-for-profits was an unintended consequence of the Act and it was repealed in December 2019.
If your organization previously filed an IRS Form 990-T for qualified transportation costs and paid this excise tax, an amended Form 990-T can be filed to request a refund.
For more information, contact a member of your client service team or Elizabeth Bidjov or firstname.lastname@example.org.
About the Author
Elizabeth A. Bidjov, CPA
Liz is a manager in the Assurance Services Department. Since joining Dopkins in 2006, Liz has served as auditor and consultant for not-for-profit and healthcare clients, as well as workers’ compensation trusts, 401(k) and 403(b) plans, defined benefit pension plans, service and manufacturing. In that time, she has cultivated a specialty in not-for-profits, specifically SED and OPWDD-funded agencies, HUD Section 811 and Section 202 funding, as well as a variety of cost reports, including NYS CFR, Medicaid AHCF and Medicare cost reports. She serves the profession through membership in NYSSCPA/AICPA, NYSSCPA’s Buffalo Chapter Not-for-profit Committee, and Accounting & Financial Women’s Alliance (AFWA) – for which she is (former) Treasurer. She participated in United Way Not-for-Profit Board of Directors Training. She earned both an M.B.A and B.S in Accounting and Accounting Information Systems at Canisius College where she graduated magna cum laude.