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Author: E. John Wagner, II

IRS Issues Small Business Tax Reform Regulations, Clarifies Combinations of Business Entities

August 9, 2018 Legislation

The tax reform legislation Congress passed in December left many details unanswered, especially regarding the small business tax benefit giving some businesses a twenty percent deduction against their income if the businesses satisfy certain employee payroll and property ownership thresholds. On August 8, the Internal Revenue Service issued proposed regulations…