Should we breathe new life into the passthrough deduction? by Martin A. Sullivan
By: Sullivan, Martin
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Material type: 
ArticlePublisher: 2024Subject(s): DEDUCCIONES TRIBUTARIAS | IMPUESTOS INDIRECTOS | POLITICA FISCAL | ESTADOS UNIDOS
In:
Tax Notes International v. 114, n. 10, June 3 2024; p. 1469-1473Summary: We aren’t so naïve to think that the low regard economists might have for a tax benefit enjoyed by 26 million owners of politically powerful “small” American businesses will do much to derail lawmakers’ efforts to extend most or all of it. Nevertheless, we thought it might be worthwhile to highlight some significant shortcomings of section 199A in the hope that Congress might consider modifications to the 20 percent deduction for qualified business income of passthroughs. It is scheduled to expire — along with all the Tax Cuts and Jobs Act’s individual tax cuts — at the end of 2025.
| Item type | Current location | Home library | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| Artículos | IEF | IEF | OP 138-Bis/2024/114/10-2 (Browse shelf) | Available | OP 138-Bis/2024/114/10-2 |
We aren’t so naïve to think that the low regard economists might have for a tax benefit enjoyed by 26 million owners of politically powerful “small” American businesses will do much to derail lawmakers’ efforts to extend most or all of it. Nevertheless, we thought it might be worthwhile to highlight some significant shortcomings of section 199A in the hope that Congress might consider modifications to the 20 percent deduction for qualified business income of passthroughs. It is scheduled to expire — along with all the Tax Cuts and Jobs Act’s individual tax cuts — at the end of 2025.
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