The Washington Wire Archive - The S Corporation Association

S-Corp Submits International Tax Team Comments

More on the Ways & Means “Tax Team” front. The S Corporation Association today submitted its comments to the members of the Global Competitiveness Tax Team.

For many readers, the idea that the S corporation community has a large international presence may come as a surprise, but they do and the issues surrounding their treatment under Section 199A, GILTI, the IC-DISC, and Pillar 2 are substantial and worthy of Congress’ attention. As the comments state:

The S Corporation Association has a long history of advocacy on international tax issues. While this discussion typically focuses on C corporations, many S corporations and …

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admin2024-10-02T16:54:28+00:00October 2, 2024|

S-CORP Jobs App is Live!

Just in time for the fiscal cliff battle, the S-Corp Mobile App lets users see detailed employment data on pass-through businesses in their states and congressional districts, all on your phone and at the push of a button.

The goal here is to arm our allies and key stakeholders with the information they need as we head into the 2025 fiscal cliff battle. Backed by data from EY, the app provides advocates with state- and district-level data on just how many jobs S corporations, partnerships, sole props, and LLCs provide. It’s a …

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admin2024-10-01T15:03:48+00:00October 1, 2024|

S-CORP Allies Trumpet 199A

It’s been a busy month on the 199A front, thanks partially to our latest study showing the large amount of economic activity supported by the provision and the importance of making it permanent. (See here, here, and here for more on that.) Before the month wraps, we wanted to highlight a trio of additional 199A news items that caught our attention.

The first is Fox Business’ coverage of a press conference hosted by NFIB during their congressional fly-in this week. As correspondent Hillary Vaughn reported, NFIB members were in town to talk about the importance of making …

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admin2024-09-25T20:20:53+00:00September 25, 2024|

S-CORP Submits Excess Loss Comments

As part of the on-going Tax Team process in the House, the S Corporation Association today submitted comments focused on the Section 461(l) Excess Loss Limitation provision created by the Tax Cuts and Jobs Act (TCJA). This provision targeted pass-through businesses solely and has been the subject of much controversy, most particularly due to the wildly inaccurate scoring that accompanied the provision’s consideration by Congress.

S-Corp has been critical of Section 461(l) from its inception, both as a response to its lack of a solid policy justification – what problem was it trying to solve? — and to …

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admin2024-09-24T17:15:38+00:00September 24, 2024|

SBA Administrator Pushed on 199A

Earlier this week the House Small Business Committee held a hearing entitled “Holding the SBA Accountable” which featured testimony from Isabel Guzman, head of the Small Business Administration.

While most of the hearing focused on other issues, there was an important exchange between Administrator Guzman and Congresswoman Beth Van Duyne regarding Section 199A and its impact on the small business community:

Van Duyne: Last week, Senator Wyden held a hearing regarding the 2025 tax debate and where he stated, quote, Congress needs to address the passthrough loophole that Trump created in 2017. He claimed it was all about small businesses, but …

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admin2024-09-21T10:34:41+00:00September 21, 2024|