Many Virginia business owners signed off on last year’s tax returns only a few weeks ago, in early September, the Internal Revenue Service’s annual, last-chance filing deadline for most U.S. companies ...

The One Big Beautiful Bill creates and/or modifies a number of tax rules that impact taxation of business income, including the permanent extension of the 20% pass-through deduction under Section 199A ...

Rep. Gwen Moore, D-Wisconsin, a member of the tax-writing House Ways and Means Committee, introduced legislation Thursday to expand the Section 199A Qualified Business Income deduction to provide a ...

Cannabis businesses' wages are ineligible for business income deductions for pass-throughs because they sell controlled substances, according to the U.S. Tax Court. The ruling on Sept. 11, 2025 ...

The 2017 tax reform legislation fundamentally changed the tax treatment of pass-through business entities through the enactment of Section 199A. The 20% deduction for qualified business income (QBI) ...

The IRS released guidance on the Section 199A qualified business income deduction on August 8th. Our panel will discuss the IRS guidance and planning opportunities and challenges that it creates. This ...

SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. Section 199A dividends are distributions from the profits of domestic real estate investment trusts ...

For businesses taxed on their income at the entity level, most commonly organized as C corporations, the TCJA dramatically reduced the corporate income tax rate from a graduated rate topping out at 35 ...

Since passed in late 2017, millions of returns have claimed the deduction, growing from 18.7 million returns in 2018 to 25.9 million returns in 2021, according to IRS data. Trade groups are sounding ...

Tax season continues on Capitol Hill, and just like so many Americans ahead of the April 15 deadline, lawmakers are tired and confused as they work on this large and sweeping legislation. In a hearing ...