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Treasury Issues Final Rules on Pass-through Bracket

By Stephen Barlas
April 1, 2019
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The U.S. Department of the Treasury issued nearly 250 pages of final regulations on January 19, 2019, regarding the Tax Cuts and Jobs Act’s 20% income tax bracket for owners of sole proprietorships, partnerships, trusts, and S corporations.

 

The so-called pass-through deduction is generally available to small business owners with income less than $315,000 for married couples filing jointly and $157,500 for single filers. All the complicated technical details of the final Qualified Business Income Deduction rule can be found by searching “IRS-2018-0021” at www.regulations.gov.

 

Stephen Barlas has covered Washington, D.C., for trade and professional magazines since 1981 and since 1984 for Strategic Finance and its predecessor Management Accounting. You can reach him at sbarlas@verizon.net.
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