Today, ladies and gentlemen, welcome to the Austin and Byrd weekly webinar series. The topic for today's session is covering section 163 J. Today's conference is being recorded. At this time, I would like to turn the conference over to Scott Hardy. Please go ahead. Thank you very much. Good morning, everyone, and thank you for dialing in this morning. My name is Scott Hardy, and I'm a partner in the federal and international tax group here at Altenburg. I'm joined this morning by Jack, coming to the counsel in our group. Before we get started, I wanted to give a quick overview of this series and the plan for the next eight to ten weeks. In late 2017, as the tax reform legislation was moving through Congress, we started a series to discuss and walk through the components of the legislation and the progression of the legislation through Congress. Once the bill passed, we thought it would be helpful to hold weekly updates just to discuss various aspects of the law and drill down a bit more into some of the issues it raised for our clients. Then late last year, in November and December, the IRS began releasing proposed regulations in connection with the TCJA. Many of these were eagerly anticipated, but the IRS has released a lot of regulations in various areas, so there's a great deal to digest. Given this influx of new regulations, we thought it would be good to revisit our series and provide summaries of the regulations for our clients. So, there are a lot of topics for us to cover, and right now we have eight weekly updates scheduled. We anticipate that we're going to have a few more to add, so stay tuned for that. But we have eight already. This week, we're going to...
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163(j) tax re Form: What You Should Know
Qualified Business Expense Deduction— IRS See Taxpayers, What's Different About the Qualified Business Expense Deduction. Section 179 Deductions for Certain Business Costs, etc. — United Nations General Assembly Section 179 deductions provided under the law of the United States do not apply to the amount includible in the gross income of a person as a result of a qualified business expense. Section 199: Business Interest — IRS If section 199 is not the right tax treatment for your individual Section 199 item, read our Tax Benefits of Business Interest Tax Deduction article. Insurance Benefits — IRS An expense of insurance contracts is generally deductible. Insurance and Contract Deductions — IRS Information on deducting insurance costs from tax-exempt employee compensation. Insurance Deductions for Exempt Employees — IRS Information for employers on deducting insurance costs for exempt employees. Insurance Tax Benefits — IRS Information on tax incentives available to companies that offer insurance to their employees. Consolidated Communications — IRS Information on consolidating and distributing long-term contracts. Intact Partnerships— IRS Information on the tax treatment of intact partnerships. Intercompany Accounts— IRS Taxpayers of a business that owns a taxable subsidiary will typically find their individual interests in the subsidiary generally taxable as of the transfer of control.
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