tax deduction News

New Pass-Through Tax Guidance Now Expected by End of July

U.S. Treasury Department rules outlining which businesses structured as S corporations, partnerships and limited liability companies can claim a 20 percent tax deduction are likely to be delayed until the end of July, according to a senior administration official. The …

Federal Debt Negotiators Eye Limiting Health Insurance Tax Break

Limiting the tax break for employer-provided health insurance became a bargaining chip on Friday in congressional negotiations to beat an Aug. 2 deadline for averting a U.S. default. “Limiting the deduction for the higher income brackets is something that is …