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IRS regs on Sec. 199A look ‘taxpayer-favorable’

August 14, 2018
Accounting Today

In an article published on August 14 by Accounting Today, shareholder Jerry August discusses the long-awaited proposed regulations recently issued for Section 199A of the Tax Cuts and Jobs Act. Section 199A provides a 20 percent deduction on "qualified business income" of pass-through entities. 

“The government did a good job of responding to practitioner concerns during the comment
period,” said August, “The regulations cover important definitional, computational and
anti-avoidance guidance. There are still open issues, and the government has requested
comments and scheduled a public hearing for Oct. 18, 2018.” To view the full article, click here