Proposed 199A Regs Issued

The U.S. Treasury Department and IRS today released for publication in the Federal Register proposed regulations (REG-107892-18) concerning a provision enacted under the new tax law that allows certain owners of sole proprietorships, partnerships, trusts, and S corporations to deduct 20% of their qualified business income.

According to the KPMG Website, 

The U.S. Treasury Department and IRS today released for publication in the Federal Register proposed regulations (REG-107892-18) concerning a provision enacted under the new tax law that allows certain owners of sole proprietorships, partnerships, trusts, and S corporations to deduct 20% of their qualified business income.

The U.S. Treasury Department and IRS today released for publication in the Federal Register proposed regulations (REG-107892-18) concerning a provision enacted under the new tax law that allows certain owners of sole proprietorships, partnerships, trusts, and S corporations to deduct 20% of their qualified business income.

Read text of the proposed regulations [PDF 530 KB]

Read Notice 2018-64 [PDF 37 KB]

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal. 

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