The 2017 Tax Cuts and Jobs Act (TCJA) introduced Internal Revenue Code Section 199A, which could potentially provide millions of taxpayers with a 20% deduction for qualifying "flow-through" income, ...

Senate Finance Committee Chairman Senator Ron Wyden (D-OR) introduced a bill to make changes to the Section 199A deduction. The key changes are as follows: The proposal does simplify the calculation ...

The Tax Cuts and Jobs Act of 2017 created a new tax break, Section 199A, where individuals and certain noncorporate taxpayers can deduct up to 20 percent of qualified business income (QBI) on their ...

From its inception, Section 199A made it fairly clear that the deduction for qualified business income (“QBI”) would not apply to all income in respect of pass-through businesses. Aside from ...