Scacpa's Weekly Federal Tax Update

Lynn Nichols Federal Tax Update Podcast Feb. 26, 2018, edition   Listen as Lynn Nichols provides commentary on 6 Items pertaining to current developments in U.S. tax law. This week’s topics include: No Plans to Apply Reasonable Compensation Beyond S Corps There are no plans to apply the reasonable compensation exclusion to qualified business income under the new 20 percent passthrough business deduction to entities other than subchapter S corporations, according to a Treasury official. [Tax Notes Today; 2/12/2018]     Tax Equity Industry Struggling to Adapt to TCJA The new tax law’s corporate-friendly changes welcomed by most businesses have left investors and brokers involved in the tax credit financing industry spinning. [Tax Notes Today; 2/14/2018]     IRS to Close Carried Interest ‘Loophole’ Prompted by New Law Fund managers using shell companies to avoid stricter limits on the use of carried interest aren't likely to see the tax benefits they were expecting.   [Tax Notes Today; 2/15/2018]