Qualified business income deduction regs. and other guidance issued.

The article focuses on the guidance issued by the U.S. Internal Revenue Service (IRS) and issued new proposed regulations on how to treat previously suspended losses and how to determine the deduction for taxpayers that hold interests in regulated investment companies (RICs), charitable remainder trusts (CRTs), and split-interest trusts. It also mentions guidance also includes a notice that provides a safe-harbor rule for rental real estate businesses and a revenue procedure.