Boyer & Ritter Auto Dealer Experts Jay Goldman and Gregg Hamm contribute to NADA Response to IRS Proposed Rule on New Deduction for Pass-Through Entities
NADA Responds to IRS Proposed Rule on New Deduction for Pass-Through Entities
The IRS recently proposed a rule to implement the new 20% deduction for qualified business income for pass-through entities that was included in the Tax Cuts and Jobs Act of 2017. Inresponsive comments that were prepared on NADA’s behalf by Crowe with input from Boyer & Ritter and Moss Adams, NADA raised several issues requiring clarification and urged the IRS to allow dealers flexibility in the grouping of separate dealer-owned entities for purposes of applying the deduction. Crowe further emphasized these points on NADA’s behalf in oral testimony that was presented to the IRS on Oct. 16, 2018. Crowe will include an overview of the new 20% deduction for pass-through entities in an NADA webinar on Nov. 14, 2018 (details to follow).
View the full NADA newsletterHERE