David Kautter Announces that Guidance on the Section 199A Pass-through Deduction will be Released in Weeks

On July 17, 2018, David Kautter, the acting Commissioner of the Internal Revenue Service (“IRS”), announced that the Treasury Department is currently reviewing guidance under section 199A and anticipates the guidance to be released within weeks. Kautter further stated that the IRS is treating the section 199A deduction, the section 59A base erosion and anti-abuse tax (“BEAT”), and the section 951A global intangible low-taxed income (“GILTI”) guidance as integrated projects. While Kautter does not expect guidance on the provisions to be released together, he predicts that guidance on the BEAT and GILTI provisions will be announced in late summer or early fall.

Read more: Expect 199A Guidance in “Weeks, Not Months,” Kautter Says

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