Thanks to Joe Kristan of Roth Tax Updates, here is some more information on the Domestic Production Activities Deduction, aka the Deduction from Hell. The draft form is available online here. A much more technical introduction to the proposed regulations, written by Elizabeth Askey of Pillsbury Winthrop Shaw Pittman LLP is available here. Joe Kristan’s in-house presentation on Section 199 is here. And the proposed regulations are available here.
As an aside, I’m not in despair over this deduction. As I was telling friends over dinner this past weekend, Congress continues to mandate full employment for tax preparers. It’s a pity that Congress does this by making deductions unnecessarily complex.
Hat Tip: Joe Kristan, Roth Tax Updates
Tags: Section199