Pass-Through Rules May Treat Service Providers Unequally, Law360
In an article published by Law360, Julian Fortuna was quoted regarding the Internal Revenue Service’s new proposed regulation. The new deduction for qualified business income, referred to as Section 199A, allows for some business owners of pass-through businesses to deduct 20 percent of their qualified business income. It’s been left up to the IRS by the The Tax Cuts and Jobs Act to decide how to treat businesses when determining eligibility. These new pass-through rules may not treat every service provider equally. Mr. Fortuna, along with several others, weigh in on the new deductions from a legal perspective.