Saturday, June 2, 2012

Tax change proposals still focus in pass through entities

The Congressional Research Service reports that most recent proposals for tax change focus on increasing taxes on high income recipients of pass-through income. Taxpayers with AGI over $250k receive 62% of pass-through income.

A recent Joint Committee on Taxation report focuses on pass through entities. They recommended a uniform pass-through entity utilizing a combination of partnership and S corp rules and doing away with both entities as they are now. Businesses would simply elect pass through or not pass through. Something to keep an eye on!

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