On 10/22/24, the IRS announced that is has officially commenced operations of the newly established pass-through field operations unit within its Large Business and International (LB&I) division, ...

SALT deduction cap temporarily raised from $10,000 to $40,000. PTETs allow businesses to bypass federal deduction limits. OBBBA permanently instates the 20% qualified business income deduction. Tax ...

A Ginnie Mae pass-through certificate represents ownership of a proportionate interest in a fixed pool of mortgages insured or guaranteed by the Federal Housing Administration (FHA), the Department of ...

What Congresses gives with one hand, it often takes away with the other and that is the case with the “Big, Beautiful Bill” when it comes to advisors who use a pass-through entity model. On the plus ...

The landmark 1986 tax reform legislation cut the top individual income tax rate in the U.S. to 28% from 50% and the top corporate rate to 34% from 46%. With that change, the tax treatment of standard ...

"Eliminating the SALT deduction for professional service pass-through businesses would also result in a major tax increase on many of those small businesses," said William R. Bay President, American ...