Blog

Overview

Since January 1, 2018, and by reason of The Tax Cuts and Jobs Act, (the Act), taxable employers have been denied deductions for their expenses for Qualified Transportation Fringe (QTFs) benefits provided to their employees and tax-exempt employers have been required to recognize unrelated business taxable income (UBTI) for their expenses in providing QTF benefits to their employees. Additionally, the Act mandates that the amounts of denied deductions and additions to UBTI be based on the “expenses” of the employer in providing the QTFs as opposed to the “value” ...