Tag Archives: income tax

IRS issues guidance on 20 percent qualified business income deduction

August 9, 2018

On Aug. 8, 2018, the IRS issued much-anticipated guidance on the 20 percent qualified business income (QBI) deduction in the form of 184 pages of proposed regulations and explanatory information. In addition, the IRS issued Notice 2018-64 providing specific information on the calculation of wages for purposes of the QBI deduction. The information is extremely

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