S Corporation Association

Yesterday’s court order lifting the injunction against the CTA is a setback for Main Street. But is there a silver lining in all of this? We think so: https://lnkd.in/ebfSZu7Z

Toplines from our latest CTA Watch newsletter: - FinCEN Halts CTA Enforcement (Despite SCOTUS Ruling) - S-Corp Advisor in the WSJ - Podcast with CIR Litigation Director - Delay Bill Reintroduced Check it out here: https://lnkd.in/ep6XEHVf

"Several months ago, we asked Penn Wharton to help us score some ideas on tax reform.?They politely declined.?Too busy analyzing the 199A deduction, apparently. Their new?paper?on the deduction makes two points — the first is wrong and the second, while interesting, is not particularly helpful." The latest installment in our "Experts Are Wrong" series looks at a Penn-Wharton Budget Model proposal on Section 199A: https://lnkd.in/ev_ybTxP

"So lower taxes, less silly regulation, and a stronger defense of our economic interests overseas. It’s early, but clearly a good start for Main Street." A look at two key actions out of the Trump administration: https://lnkd.in/e6u47w3Q

Last month, the Bipartisan Policy Center put forward some suggestions on how to address the pending sunset of the SALT cap, including rolling back the pass-through “SALT Parity” laws we helped enact in 36 states.? As you might imagine, we have thoughts: https://lnkd.in/eJAq8_Gj

Highlights from our latest CTA Watch newsletter: - SCOTUS review should compel administrative relief - Main Street backs repeal bill - Second injunction issued Full writeup below: https://lnkd.in/ew9adsxc

In the past, we’ve posted all the studies, data, and other information we’d compiled in support of the 199A deduction. With Congress debating the deduction once more – Ways and Means hearing tomorrow! – we thought this would be a good time to repost all this work.?It demonstrates both the importance of the pass-through sector to the economy and the importance of Section 199A to the pass-through sector. https://lnkd.in/edgg4AUh

"At the end of the day, the reconciliation bill(s) will include whatever magic mixture of policies gets to a majority.?If that’s one big omnibus, great.?If it’s several smaller bills, that’s fine too. Donald Trump appears to understand?this.?With just a 2-vote margin in the House, it’s also reasonable to expect the path to finding that magic mixture will be messy, so buckle up." Our take on the recent obsession over the reconciliation bill process / strategy, and where the focus should really be: https://lnkd.in/ekbjaNbZ

Breaking CTA BOI news via Andrew Grossman: the court today vacated the stay of the injunction, meaning the injunction that was overturned a few days ago is now back in place (aka Treasury can’t enforce the CTA/penalties). Surely more to come…

?? Corporate Transparency Act Injunction Reinstated! ?? Our writeup on the good news and what it means for the Main Street business community: https://lnkd.in/eAtSCvGW