In Notice 2018-99, the Internal Revenue Service sets forth interim guidance for taxpayers to determine parking expenses for qualified transportation fringes (QTFs) that are nondeductible and for tax-exempt organizations to determine the increase in unrelated business taxable income (UBTI) attributable to nondeductible parking expenses. The Tax Cuts and Jobs Act (Act) amended these tax
Employer Deductions
2018 Tax Reform Series: Change to Employer Deduction Rules
By Bruce H. Schwartz & Melissa Ostrower on
Posted in Tax Cuts and Jobs Act
This is the sixth article in our series covering the various tax and employee benefits-related changes contained in the Tax Cuts and Jobs Act signed by the President on December 22, 2017.
One surprising change made by the Act, summarized below, is the elimination of the employer deduction for certain settlement payments made in the…