Current legislative developments of interest to tax-exempt organisations relate to the 2017 tax reform legislation - namely, provisions on Qualified Transportation Fringe (QTF) benefits and the Section 4960 excise tax on ‘excess compensation’ - and a recently-passed House bill expanding requirements for mandatory e-filing of Forms 990 and 990-T. House Ways and Means Committee majority chief tax counsel Andrew Grossman recently addressed some of these issues at a DC bar event.
While Congress is aware of issues facing tax-exempt organisations as a result of tax reform, technical corrections or legislative changes do not appear forthcoming in the near term. Among other issues, tax-exempt organisations should monitor the progress of proposed legislation that would expand the scope of mandatory tax return electronic filing.