Tax,
Government,
Corporate
Aug. 16, 2018
Finally, proposed regulations regarding IRC Section 199A
On Aug. 8, the Internal Revenue Service released long-awaited proposed regulations for the new Internal Revenue Code Section 199A, regarding the qualified trade or business income deduction.
Megan Lisa Jones
Email: megan.jones@withersworldwide.com
Loyola Law School
Megan is a tax attorney who specializes in estate and business planning. She was previously an investment banker at firms including Lazard Freres & Company.
On Aug. 8, the Internal Revenue Service released long-awaited proposed regulations for the new Internal Revenue Code Section 199A, regarding the qualified trade or business income deduction. Issued concurrently was Notice 2018-64, which provides guidance on computing W-2 wages with respect to the deduction, and FAQs. Section 199A was enacted by P.L. 115-97, or the Tax Cuts and Jobs Act, in December 2017.
The new proposed regulations ...
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