NATP Comments on Section 199A
On behalf of our more than 23,000 NATP members and the thousands of others who work in the tax preparation industry, we submitted comments to the Treasury Department to address our concerns with certain ambiguity in the regulations under §199A that were released Aug. 8, 2018.
We are submitting commentary on three specific areas.
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- Clarity on the definition of a trade or business specific to rental activities.
- Definition of what is included in taxable income and how to calculate.
- Determination of due diligence requirements regarding reasonable compensation.
NATP is scheduled to speak October 16 before Treasury at a public hearing in Washington DC.