Treasury Releases Draft Regulations for 20% Pass Through Entities

Filed in Codes and Regulations by on August 8, 2018 1 Comment

US treasury department sign in Washington dc building facadeThe Treasury Department today released draft regulations for the new 20% pass through entity deduction under the Tax Cuts and Jobs Act of 2017.

The proposed regulations concern the deduction for qualified business income under Section 199A of the Internal Revenue Code.

The regulations will affect individuals, partnerships, S corporations, trusts, and estates engaged in domestic trades or businesses.

NAHB is in the process of reviewing the proposals to determine how they will affect our members.

Meanwhile, members who have queries regarding the proposed regulations are encouraged to submit questions to their tax professionals.

The proposed rule will be published in a future edition of the Federal Register. After the rule is published, interested parties will have 45 days to submit comments.

For more information, contact David Logan at 800-368-5242 x8448.

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Comments (1)

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  1. Ken Ray says:

    Please review as soon as possible. We compared the pass through rules to our last years tax situation and it only amounted to a $1000 dollar savings. We thought this would help us more than that?

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