Robb Longman Speaks about Tax Code Section 199A
Robb Longman Speaks about Tax Code Section 199A. Today, Longman & Van Grack Tax Attorney Robb Longman will be presenting at a panel at the American Bar Association (ABA)’s Section of Taxation’s 2018 Meeting in Atlanta, Georgia related to Section 199A of the Tax Cuts and Jobs Act of 2017. Robb recently wrote an article titled “IRS Issues Proposed Regulations on New Tax Code Section 199A” which explained that IRS Section 199A is a tax code section which was enacted on December 22, 2017 and allows for a twenty percent (20%) deduction of certain tax payers’ income from domestic businesses that are taxed as a sole proprietorship S-Corporation or partnership. On April 8, 2018, the IRS specifically issued proposed regulations related to this Tax Code Section 199A. The proposed IRS regulations for Tax Code Section 199A that were released in April provide additional guidance on the application of this code section. The proposed Tax Code Section 199A regulations have been a constant source of discussion among tax professionals.
Thus to address these questions regarding Tax Codes Section 199A, at the ABA Section of Taxation Meeting, Robb will be a Panelist on a program titled “199A: Update and Analysis.” On this panel, Robb will be discussing the effects of the proposed regulations regarding Section 199A and how the regulations affect the planning for closely held business, especially with regards to planning techniques for pass through entities. Section 199A of the Internal Revenue Code provides certain taxpayers with a tax deduction for qualified business income from a qualified trade or business operated directly or through a pass-through entity.
Robb Longman’s extensive background in tax law provides him with the ability to specifically advise his tax and business clients on all types corporate matters but on the tax issues related to those matters as well including Section 199A of the Internal Revenue Code. In fact, Robb is not only the head of our Firm’s Tax Practice, Robb is the Assistant Secretary of the ABA’s Tax Section and the former Chair of Maryland State Bar Association’s Tax Section. Robb regularly works with his tax and business clients to devise strategies to help them minimize their taxes in their business transactions and personal concerns.
