Current Federal Tax Developments for the week of August 13, 2018: 199A Regulations Some Answers, Some Questions

This week we look at the following items:

North Carolina announces out of state sellers required to begin collection of sales tax on November 1, 2018
Legal fees were not from a trade or business and were not expenses of the S corporation
IRS releases much anticipated proposed regulations on the 199A deductiton including guidance on
- Aggregation into a single trade or business
- Definitions of specified service activities
- Various anti-abuse rules

An audio only version of the broadcast can be streamed or downloaded below:

A PDF with articles for this week (including a long analysis of the proposed regulations) can be downloaded via the link before.