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Special Alert: Congress Repeals Onerous “Parking Tax” And Adjusts Private Foundation Excise Tax Rates on Net Investment Income

Posted on: 1/6/20 by

The government funding legislation passed by the House on Dec. 17 and by the Senate on Dec. 19 includes repeal of Internal Revenue Code Section 512(a)(7), commonly referred to as the “parking tax”.  The legislation was signed into law by the President on Dec. 20.

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