Tuesday, February 19, 2019
Attorneys from the tax exempt group at Ropes & Gray have produced a podcast summarizing the changes to tax laws pertaining to exempt organizations. Click on the Podcast link centered above to listen during your lunch time. The podcast is about 20 minutes. Here is a summary from the transcript:
Morey Ward: Hi, everyone, and thanks for joining us for this Ropes & Gray podcast. I'm Morey Ward, counsel in our tax-exempt group. I am joined by my colleagues Kendi Ozmon, Gil Ghatan and Brittany Cvetanovich, who also focus their practices on representing tax-exempt organizations. Today's podcast is called "Tax Reform and Its Impact on Exempt Organizations, One Year In." This is meant to provide listeners with an update on the provisions of the Tax Cuts and Jobs Act (the "TCJA"), that specifically target tax-exempt organizations, including some major guidance issued on these provisions in late 2018. We'll also mention some questions about the TCJA that remain unanswered. Brittany and Gil will begin by talking about some changes to the rules on unrelated business taxable income, (or "UBTI"). Brittany will address questions about the new "silo" rule for calculating UBTI, and Gil will talk about the new tax on parking expenses. We'll then turn the focus of our discussion to two excise taxes the TCJA imposed on exempt organizations. Kendi will talk with me about the excise tax on executive compensation, and we'll wrap up with an update on the excise tax on certain college and university endowments.
Darryll K. Jones and Easter L. Floyd-Clarke