PROTECTING THE PASS-THROUGH DEDUCTION: Businesses and trade groups are launching a unified effort to preserve a key tax break. The PROTECT Coalition will push to make permanent the so-called 199A deduction for pass-through entities, which will sunset at the end of 2025 along with a slew of other provisions from the 2017 tax bill.
The tax policy practice at Brownstein Hyatt Farber Schreck is forming the PROTECT Coalition—which stands for Passthroughs Relying On Tax Equity & Championing Thriving Businesses—to coordinate efforts for businesses reaching out to lawmakers ahead of the 2025 tax cliff. The 2017 tax law established a 20% deduction under Section 199A of the tax code on certain pass-through income, which owners of businesses such as partnerships, S corporations, and sole proprietors report on their individual tax ...
PROTECT COALITION, a newly formed alliance of small, medium and large businesses across a variety of sectors that oppose the expiration of Section 199A, the Qualified Business Income Deduction, is officially launching. The coalition’s mission is to defend vital tax incentives that support the growth and sustainability of successful small businesses across the nation.