Repeal of Qualified Transportation Fringe Tax

Claiming Your UBIT Refund or Credit or Adjusting Form 990-T for Qualified Transportation Fringe Amounts

On January 21, 2020 the IRS issued instructions on how to claim a refund for the now repealed Qualified Transportation Fringe amounts that were subject to Unrelated Business Income Tax (UBIT).

If you wish to claim a refund or credit of the UBIT reported on your Form 990-T for 2017 or 2018 under Section 512(a)(7), you may do so by filing an amended Form 990-T as described in the form’s instructions and do the following as outlined in this IRS link: How to claim your refund

For questions or assistance on filing, please
contact a member of the Not-For-Profit and Education Group.

Time limits for filing refund claims found in IRC Section 6511 apply to these refunds. Typically, this is three years from the later of the time the original Form 990-T was filed or two years from the time the tax was paid. During the next few weeks our team will be reaching out to clients eligible for refunds.

Not-For-Profit and Education

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