2019-12-30 The Year's Big Tax Developments
This week we look at: §199A final regulations – a pre-tax season package that had to be quickly understood 2019’s year end tax bills – comes in three parts, along with a good portion of the government’s full appropriations package The IRS’s fascination with tax basis capital, and the profession’s reaction to the same §199A FAQ – so we’ll have fewer sub-regulatory guidance items, but that doesn’t mean it all gets reviewed like regulations. Or, perhaps, be careful what you wish for… States looking to extend their tax reach, but in a case with limited application SCOTUS did find there are some limits Additional items beyond the top five… Copyright 2019, Kaplan, Inc.