IWLA Supports Bill to Make Pass-through Deduction Permanent

March 11 IWLA sent a letter of support to the sponsors of the Main Street Tax Certainty Act of 2021 (S.480/H.R.1381), Sen. Steve Daines (R-MT), and Rep. Jason Smith (R-MO). IWLA is working with the legislation’s sponsors and allied organizations like the U.S. Chamber of Commerce to have this legislation enacted into law.

The legislation would make the 20 percent qualified business income deduction (Section 119A) permanent for pass-through businesses organized as sole proprietorships, S corporations, and partnerships. The tax deduction is currently set to expire at the end of 2025.

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