The New York State Bar Association Tax Section has submitted a report addressing some provisions of the Tax Cuts and Jobs Act that impact exempt organizations, noting areas where interpretive guidance is needed, identifying issues regarding the new statutory language, and making some recommendations for guidance. The report addresses Section 512(a)(6) on the siloing of losses for purposes of calculating unrelated business income tax; Section 512(a)(7) on the treatment of some fringe benefits as unrelated business taxable income; some international provisions and their impact on the calculation of net investment income taxes and UBTI; Section 4960 on the imposition of a 21 percent excise tax on remuneration over $1 million and “excess parachute payments” paid to some employees of exempt organizations; and Section 4968 on the imposition of a 1.4 percent excise tax on the net investment income of some colleges and universities.