Charisma Caucus

The Shocking Church Tax That Could Have Cost Billions

The new guidelines come after senators urged for this provision to be repealed.  (Wikimedia Commons)

The Treasury Department released new guidelines Monday that will help ease the parking tax burden on churches and non-profit organizations.

The guidelines show churches how to soften the blow of a 2017 tax provision that forces them and other historically tax-exempt groups to pay a 21 percent tax on some benefits they provide their employees, such as parking, transportation and other related benefits.

"Treasury is sensitive to the concerns of the tax-exempt community, and hopes this guidance can significantly limit the impact on nonprofit groups," said Secretary Steven T. Mnuchin. "Treasury is offering tax-exempt organizations a roadmap for navigating their responsibilities. The guidance issued today aims to provide flexibility while minimizing the burden on nonprofit groups that provide employee parking."

While many politicians celebrated the successful pass of the Tax Cuts and Jobs Act, experts said the parking lot tax provision would cost these churches billions of dollars.

"There are nearly 15 million employees that work in the United States for nonprofits—nearly 10 percent of the workforce—so that's 15 million parking places. And conservatively, it's going to cost the nonprofit community as a whole up to a billion dollars," Dan Busby, president of the Evangelical Council for Financial Accountability (ECFA), told CBN News.

The new guidelines come after senators urged for the provision to be repealed.

Click here to read the rest of the story from our content partners at CBN News.

Get Spirit-filled content delivered right to your inbox! Click here to subscribe to our newsletter.

Great Resources to help you excel in 2019! #1 John Eckhardt's "Prayers That..." 6-Book Bundle. Prayer helps you overcome anything life throws at you. Get a FREE Bonus with this bundle. #2 Learn to walk in the fullness of your purpose and destiny by living each day with Holy Spirit. Buy a set of Life in the Spirit, get a second set FREE.

Your Turn

Comment Guidelines
View/Add Comments
Charisma News - Informing believers with news from a Spirit-filled perspective