On Wednesday, a subcommittee of the U.S. House of Representatives Financial Services Committee held a hearing to discuss efforts to minimize legal and compliance risks for banking and financial services businesses seeking to provide services to state-sanc
Big “I” Chairman Joe Leahy was in Washington, D.C. this week to meet with members of Congress and set the groundwork for this year’s Legislative Conference, to take place May 8-10.
Earlier this week, the Big “I” and other stakeholders sent a letter to FEMA asking for clarification on when consumers can receive a refund for unearned premiums if they cancel an NFIP policy mid-term in favor of a private policy.
To help Big “I” members understand recently passed regulations concerning a new tax deduction for “qualified business income” under Section 199A of the tax code, the Big “I” posted multiple new resources.
Last Friday, federal banking regulators issued a new rule outlining when lenders are required to accept private flood insurance to satisfy mandatory purchase requirements.
Today, with strong support from the Big “I,” Reps. Joe Courtney (D-Connecticut) and Mike Kelly (R-Pennsylvania) introduced bipartisan legislation that would repeal the “Cadillac” tax, which would unfairly and disproportionately affect middle-income Americ
The new tax deduction reduces the top effective tax rate on pass-through income to approximately 29% from 37%. For those in the 24% bracket, it can reduce the rate to as low as 19.2%.
The IRS recently issued final regulations governing Section 199A of the tax code. The rule confirms that owners and shareholders of insurance agencies and brokerages organized as pass-through entities are eligible for a tax deduction of up to 20% on “qual
The webinar will provide a comprehensive explanation of how the new tax deduction benefits pass-through owners and shareholders, including an overview of specific sections of the over 200-page regulation relevant to insurance agencies and brokerages.
On Monday, the IRS issued a draft worksheet form Publication 535 to help taxpayers calculate a 20% deduction on qualified business income from pass-through entities for 2018.
