Main Street Employers on Tax Overhaul

New Survey Highlights Importance of Guidance in Making Pass-Through Provisions Successful

Parity for Main Street Employers

The Parity for Main Street Employers (PMSE) coalition released a new survey highlighting the pass-through business community’s initial reaction to the tax Cuts and Jobs Act (TCJA).  Early results indicate that the tax relief promised to non-corporate employers is in danger absent clear guidance from IRS and Treasury.  Key results include:

  • Half of the businesses surveyed were still unsure whether their tax burden would go up or down under the new tax law.
  • More than one-third responded that they are unsure if they will get the new pass-through deduction.
  • For those businesses reporting that they will not get the full deduction, one in four reported they were subject to the wage limit.

Read the full press release here.