Christine Walizer, Author at The S Corporation Association

CRS on Marginal Rates

As Congress puts together the big tax bill, CRS just produced another reminder of why making the Section 199A pass-through deduction permanent needs to be part of the package. This chart says it all:

The rates reflected here are important because they measure the overall tax burden imposed on new investment. As CRS notes: “The marginal effective tax rate (METR) is a forward-looking measure that estimates… the share of the rate of return on a prospective investment that is paid in taxes over the life of that investment.”

So under current law, …

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admin2025-03-10T20:22:20+00:00March 10, 2025|

Treasury Expands CTA Relief

The millions of businesses that rode out the recent roller-coaster of court rulings and chose not to file their CTA reports to date should be feeling pretty good right now. Fresh on the heels of FinCEN’s announcement that it was pausing enforcement of the Corporate Transparency Act pending the enactment of new regulations, the Treasury Department yesterday shed some additional light on what the new reporting regime will look like. Here’s the press release:

The Treasury Department is announcing today that, with respect to the Corporate Transparency Act, not only will it not enforce any penalties or fines associated …

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admin2025-03-03T15:37:07+00:00March 3, 2025|

Treasury Pauses CTA Enforcement!

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced yesterday that it is ceasing enforcement of the Corporate Transparency Act (CTA) while it crafts a new set of regulations that will ultimately narrow the scope of the reporting regime. It’s a huge win for Main Street, particularly as the CTA’s reporting requirements were scheduled to take effect once again beginning March 21^st.

Here’s the key passage from FinCEN’s release:

FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information (BOI) …

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admin2025-02-28T16:23:17+00:00February 28, 2025|

Strong Business Community Support for House Budget Resolution

The Main Street business community has come out in strong support of the House Budget Resolution scheduled to be considered this week. The simple reality is there will be no tax bill unless Congress adopts a budget that calls for one. As Karen Kerrigan noted in her letter to House leaders:

This must be a priority for Congress…passing the budget resolution is a vital first step toward that end. Renewing expiring small business provisions in the TCJA such as the 20% small business deduction, lower individual income tax rates, higher threshold exemptions on death taxes, and restoring incentives such as …

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admin2025-02-24T21:54:19+00:00February 24, 2025|

Is There a Silver Lining in the CTA Cloud?

Yesterday’s District Court decision lifting the injunction against the Corporate Transparency Act (CTA) is a setback for Main Street.

The Texas court lifted the second and only remaining injunction blocking filing under the CTA, again forcing millions of small (and not-so-small) businesses to report all their beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN) or face fines and jail time. As the Court ruled:

In light of the Supreme Court’s order in McHenry v. Texas Top Cop Shop, Inc., the Court has determined that the motion should be, and hereby is, GRANTED. The Court’s January 7, 2025 order granting …

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admin2025-02-19T17:43:50+00:00February 19, 2025|