New Taxes On Churches, Synagogues And Nonprofits Takes Effect
According to a report by Politico, a little-known change could cost some groups tens of thousands of dollars, as new taxes on churches, synagogues and other nonprofits begin to take effect. Recent tax-code changes now requires churches, hospitals, colleges, orchestras, and other historically tax-exempt organizations to begin paying a 21 percent tax on fringe benefits provided for employees.