Are Form 1120 Schedule M 3 Disregarded 2019-2024

We're talking specifically about the Tax Cut and Jobs Act that was passed at the end of 2017. Some of it was retroactively effective in 2017. For example, the medical deduction threshold went from 10% to 7.5%, which was retroactive. Some provisions on deductibility under section 179, such as big equipment deductions, were retroactive to September. However, as of last night, proposed regulations have been issued for the Tax Cut and Jobs Act. The IRS sometimes interprets the tax laws and issues regulations, known as "regs". The IRS has yet to issue the regs on Tax Cut and Jobs Act, but they have issued some proposed regs under Section 199. Already, I have had three people ask questions about these proposed regs. We are still deciphering the regulations, which were only 170 pages that were issued yesterday. They also provide some examples. The regulations aim to shut some loopholes that tax practitioners were attempting to exploit, such as using trusts to avoid taxes. This was predictable, but some individuals benefited in the short term at the expense of their clients. We will be going through all these changes and addressing questions from viewers. We will focus on the good, the bad, and the ugly aspects of the Tax Cut and Jobs Act, and why some people are concerned about it in certain states. To understand this, we need to start with the basics: what is itemizing and why is it important? We will also discuss the most devastating law change, the three things that the top 2% do differently, and where you can learn more about the changes. It is important to note that the Tax Cut and Jobs Act will have an impact on everyone. To start, itemizing is the process where individuals list out their entitled deductions and...