House Tax Reform and S Corps, Part II
The Ways and Means Committee is likely to wrap its tax reform markup today. The bill presents many challenges to pass-through businesses that are unlikely to be fixed today. Here are some quick hits on what we’re seeing.
Reality v. Rhetoric
We continue to hear from S corporations who believe they will get a 25 percent tax rate under this bill. As we reported earlier this week, most businesses won’t see anything even close to the 25 percent rate. Part of the confusion is the rhetoric coming out of Congress. For example, here’s one description from the House:
That’s not …
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