August 2019
Just before the onset of this year’s tax filing deadline, the IRS re-examined Section 199A, the 20 percent deduction for pass-through businesses that was enacted as part of the 2017 Tax Cuts and Jobs Act (TCJA). As a result, the IRS’ list of frequently asked questions (FAQs) was amended to include guidance for the IRS Section 199A – Qualified Business Income Deduction FAQ website. This adjustment expanded the page from 12 to 47 questions, with one inclusion in particular – the treatment of the self-employed health insurance deduction for an S corporation shareholder – surprising many.
