WASHINGTON—As 2018 winds down, CUNA its Washington agenda is focused on tax issues that could affect credit unions and their members.
CUNA reported that for the rest of 2018, it will:
- Pursue the extension of two expired tax cuts, aka, “tax extenders.” One provision would not treat the discharge of mortgage debt forgiveness as income, the second retroactively made deductible mortgage insurance premiums paid in 2017 as homeowners filed 2017 returns
- Continue its advocacy with lawmakers to fix for an excise tax disparity contained in the Tax Cuts and Jobs Act of 2017 (TCJA). CUNA said it believes the law creates a major parity problem between existing for-profit and not-for-profit employee contracts
- Engage with the Internal Revenue Service to push for a delay in new Unrelated Business Income Tax (UBIT) until clear and final rules are issued.
CUNA said it is also working closely with new and returning members of Congress to set up its advocacy agenda for next year.