Independent agents and brokers may benefit from proposed tax regulations. (Photo: Shutterstock)
Independent insurance agents and brokers can celebrate a tax win for a change. Thanks in part to strong advocacy by many trade groups, including the National Association of Professional Insurance Agents (PIA), proposed regulations issued Aug. 8 by the U.S. Treasury and the Internal Revenue Service (IRS) specifically state that "insurance agents and brokers" are not excluded from taking the 20% pass-through tax deduction that was passed as part of the tax reform legislation signed into law late last year.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
