Tag Archives: section

TAX REFORM AND SECTION 199A DEDUCTION OF QUALIFIED BUSINESS INCOME OF PASS-THROUGH ENTITIES

Summary   On Friday, December 22, President Trump signed sweeping tax reform (the “Act”) into law. The Act provides the most comprehensive update to the tax code since 1986 and includes a number of provisions of particular interest to partnerships and their partners. This alert addresses the Section 199A deduction for qualified business income of pass-through Read More…

NEW DEFERRED COMPENSATION REGULATIONS: WHAT NONPROFITS NEED TO KNOW

By Joan Vines, CPA The Internal Revenue Service (IRS) released proposed regulations that provide guidance for the nonqualified deferred compensation arrangements of tax-exempt organizations in June. The regulations, which have been anticipated by the industry since 2007, address the interplay between Internal Revenue Code Section 457 and Section 409A, which govern the nonqualified deferred compensation Read More…