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Nonprofits May Face Costly Hurdles To Get Fringe Benefit Refunds, Law360

January 29, 2020

Morgan Lewis partner Alexander Reid discussed recently published guidance from the US Internal Revenue Service (IRS) for tax-exempt organizations seeking refunds on a now repealed federal tax on transportation fringe benefits. But for nonprofits, getting this money back is not without hurdles. “Many of us were hoping the IRS would provide a more user-friendly and faster procedure for organizations to claim the refund,” Alex said. “Meanwhile, the earnings on the tax continue to accrue to the government and are not available for use by the nonprofits to further their missions.”

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