The House’s top tax writer has unveiled Republicans’ “Tax Reform 2.0” framework. The framework outlines three key focus areas:making permanent the individual and small business tax cuts enacted under the Tax Cuts and Jobs Act (TCJA) ( P.L....
The IRS’s proposed pass-through deduction regulations are generating mixed reactions on Capitol Hill. The 184-page proposed regulations, REG-107892-18, aim to clarify certain complexities of the new, yet temporary, Code Sec. 199A deduction of up to 20 percent of...
The IRS has released long-awaited guidance on new Code Sec. 199A, commonly known as the “pass-through deduction” or the “qualified business income deduction.” Taxpayers can rely on the proposed regulations and a proposed revenue procedure until...
