In this Q&A in Wolters Kluwer Federal Tax Daily, Tom West provides a background of the 199A deduction and what taxpayers might need to know about it.
Are you equipped to manage the unique tax challenges as you make transactional, structuring and compliance decisions as a passthrough?
KPMG LLP's Passthroughs practice can help. We have the people, technology and industry experience to support the needs of partnership and passthrough entities.
People that make a difference
Working with our Washington National Tax team, we have extensive experience helping numerous partnership structures realize certain tax efficiencies and maintain compliance by adding clarity to:
Technology that increases efficiency
KPMG Asset Management Platform helps passthrough entities manage passthrough taxes while increasing efficiency and transparency. This proprietary technology helps streamline passthrough tax planning, compliance and reporting by helping your company:
Industry focus that digs deeper
Drawing on our distinct breadth and depth of industry-specific tax and regulatory knowledge, and our experience in international, federal, state, local and cross-border tax trends, we can address industry-specific issues and specialty areas that include:
Greg Armstrong discusses recent IRS guidance that indicates the IRS Office of Appeals will play a larger role in the new partnership audit procedures under the Bipartisan Budget Act of 2015. The author concludes that although further guidance is needed, the memorandum is an important first step.