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FGMK TAX ALERT: The Newly Issued Proposed Regulations and Their Impact on the New 20% IRC Section 199A Deduction

The Newly Issued Proposed Regulations and Their Impact on the New 20% IRC Section 199A Deduction. On August 8th, the Internal Revenue Service (“IRS”) issued the proposed regulations (REG-107892-18) (the “Proposed Regulations”) regarding Internal Revenue Code (“IRC”) section 199A, the 20% deduction available to flow through businesses. As expected, the Proposed Regulations highlighted issues raised …