The Internal Revenue Service issued proposed regulations for a new provision allowing many owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income.
Congress is considering delaying implementation of the Cadillac Tax by two years as part of a short-term funding measure that must be passed by Friday to avoid a government shutdown.
With many hurdles ahead, the House GOP leadership unveiled its comprehensive tax cut/reform package. It includes implications for every American and every business.
As preservation of the employer-provided group market is The Council’s top legislative goal, we strongly encourage you and your colleagues (as well as your clients) to contact your two United States senators and urge their strong opposition to taxation of benefits.
The U.S. House of Representatives narrowly passed the American Health Care Act (AHCA) today by a vote of 217 to 213.
The latest version of the repeal and replace legislation does NOT include changes to the tax exclusion for employer provided plans.
House GOP leaders this morning released a “discussion draft” of legislation designed to repeal and replace the Affordable Care Act that includes a “pay-for” provision that would scale back the employer exclusion from taxation for benefits from 100 percent to 90 percent.
President Trump issued an Executive Order directing the agencies to waive, defer, grant exemptions from or delay the implementation of any provision or requirement of the ACA.
The Council’s breakdown of last night’s election results.
U.S. Senate overwhelmingly voted to enact a six-year extension of the Terrorism Risk Insurance Act. The act is identical to the legislation approved yesterday by the U.S. House of Representatives. It includes our long-sought NARAB provision to create an interstate agent/broker licensure clearinghouse.
