Alerts

January 18, 2019 This afternoon, the U.S. Treasury and the IRS released their final regulations on the Qualified Business Income Deduction for pass-through entities under the Tax Cuts and Jobs

January 18, 2019 Provision providing benefits to insurance agency/brokerage: “(x) Meaning of services performed in the field of brokerage services. For purposes of section 199A(d)(2) and paragraph (b)(1)(ix) of this

The program shall be treated as operational since December 21, 2018 without interruption.

FEMA will issue official guidance that the NFIP will operate in a limited capacity during the shutdown. Details inside.

December 21, 2018 This evening, Congress passed legislation reauthorizing the National Flood Insurance Program (NFIP) to May 31, 2019. The measure is expected to be signed by the President, narrowly

The U.S. Treasury issued regulations on December 13 excluding non-cash value property/casualty insurance premiums from regulations implementing the Foreign Account Tax Compliance Act (FACTA).

December 13, 2018 Under §1.1473-1(a)(1), a withholdable payment generally includes any payment of U.S. source FDAP income, subject to certain exclusions, such as for “excluded nonfinancial payments.” Excluded nonfinancial payments

Congress passed a bill that extends the National Flood Insurance Program by one week.

There are impacts for commercial brokerage from Congress all the way down to thousands of state legislative seats.

In a significant win for The Council, the proposed rules exclude insurance agency and brokerage services from the scope of the term “Brokerage Services,” which is one of the core categories of SSTBs under the statute.