Tax Cuts and Jobs Act of 2017 Section 199A

Tax Cuts and Jobs Act of 2017 Section 199A_Oct 2018.  This memorandum has been long delayed in an effort to obtain greater clarity from the Internal Revenue Service and its Office of Chief Counsel. Recently, the Internal Revenue Service did issue Proposed Regulations on one significant aspect of the law, Section 199A (which provides a maximum deduction equal to 20% of the net trade or business income of certain individuals and “pass-through entities”). Click link to read more…