The taxation of pass-through business income was a key discussion point during the debate of the Tax Cuts and Jobs Act, leading to the creation of the Section 199A deduction. Proponents argue the new deduction is essential for parity between pass-through businesses and C corporations. But others argue that the new deduction is complex, with the potential for abuse.
This panel will discuss the pros and cons of Section 199A, what we know from the new final Internal Revenue Service regulations, its impacts on pass-through businesses of all sizes, and what policymakers should know during the first tax filing season since its passage.
Nicole Kaeding, Tax Foundation Director of Federal Projects, will moderate the panel, which will include: