KPMG has made available for download their article, “Senate Finance Committee chairman releases discussion draft on reforming taxation of passthrough entities,” which discusses drafts of legislation aimed at reforming taxation of passthrough entities . The abstract is as follows:
Senate Finance Committee Chairman Ron Wyden (D-OR) this morning released a discussion draft of legislation intended to reform the taxation of passthrough entities.
The Passthrough Reform Discussion Draft would make a number of changes to Subchapter K and related provisions of the Code. Wyden’s summary of the legislation notes that “the provisions of the discussion draft remove optionality that is unnecessary for business ends and close certain tax loopholes that allow investors and corporations to pick and choose when to pay tax.”
To see the full article, click: “Senate Finance Committee chairman releases discussion draft on reforming taxation of passthrough entities”
Posted by Anthony Tran, Associate Editor, Wealth Strategies Journal