Section 199A Regulations

Proposed Regulations to Section 199A Pass-Through Business Deductions

On August 8th, the IRS issued proposed regulations addressing the new Section 199A 20-percent deduction for pass-through business. Section 199A of the Internal Revenue Code provides owners of pass-through businesses, generally partnerships and S corporations, a deduction for qualified business income from a qualified trade or business. The new proposed regulations clarify some previously ambiguous sections… Read more »