From Proskauer’s Not For Profit / Exempt Organization Blog, a discussion of recent IRS guidance and New York State legislative relief on Internal Revenue Code 512(a)(7), added by the Tax Cuts and Jobs Act (“TCJA”)…

Inclusion of Qualified Transportation Fringe Benefits in UBTI: Guidance, Relief, and Rumors of Possible Repeal

Posted in Exempt Organizations, IRS, NYS / NYC, State Taxation, Tax Cuts and Jobs Act, Tax Reform, UBTI
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Photo of Amanda H. Nussbaum Amanda H. Nussbaum

Amanda H. Nussbaum is the chair of the Firm’s Tax Department as well as a member of the Private Funds Group. Her practice concentrates on planning for and the structuring of domestic and international private investment funds, including venture capital, buyout, real estate…

Amanda H. Nussbaum is the chair of the Firm’s Tax Department as well as a member of the Private Funds Group. Her practice concentrates on planning for and the structuring of domestic and international private investment funds, including venture capital, buyout, real estate and hedge funds, as well as advising those funds on investment activities and operational issues. She also represents many types of investors, including tax-exempt and non-U.S. investors, with their investments in private investment funds. Business partners through our clients’ biggest challenges, Amanda is a part of the Firm’s cross-disciplinary, cross-jurisdictional Coronavirus Response Team helping to shape the guidance and next steps for clients impacted by the pandemic.

Amanda has significant experience structuring taxable and tax-free mergers and acquisitions, real estate transactions and stock and debt offerings. She also counsels both sports teams and sports leagues with a broad range of tax issues.

In addition, Amanda advises not-for-profit clients on matters such as applying for and maintaining exemption from federal income tax, minimizing unrelated business taxable income, structuring joint ventures and partnerships with taxable entities and using exempt and for-profit subsidiaries.

Amanda has co-authored with Howard Lefkowitz and Steven Devaney the New York Limited Liability Company Forms and Practice Manual, which is published by Data Trace Publishing Co.

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Photo of Amy Zelcer Amy Zelcer

Amy Zelcer is a special tax counsel in the Tax Department. Amy works on U.S. federal corporate, partnership, and international tax matters, including domestic and cross-border financings, capital markets transactions, mergers and acquisitions, investments and restructurings.

Amy also maintains an active pro bono…

Amy Zelcer is a special tax counsel in the Tax Department. Amy works on U.S. federal corporate, partnership, and international tax matters, including domestic and cross-border financings, capital markets transactions, mergers and acquisitions, investments and restructurings.

Amy also maintains an active pro bono practice, representing not-for-profit/tax-exempt clients on a variety of matters, such as applying for and maintaining exemption from federal income tax and minimizing unrelated business taxable income.

Read more about Amy Zelcer
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