A Look At Tax Code Section 199's Last Stand

Law360 (November 6, 2018, 5:14 PM EST) -- The Internal Revenue Service has been battling taxpayers for more than a decade on their Internal Revenue Code Section 199 deductions. Indeed, nearly every taxpayer, other than manufacturers, has been questioned in some fashion about their Section 199 deduction. In the wake of the Tax Cuts and Jobs Act,[1] which repealed Section 199, taxpayers are taking a last stand to claim the benefit and, in many instances, claiming substantial refunds for all open years. Listing Section 199 refund claims as a “campaign” was the IRS’ newest way of telling taxpayers: Let’s get ready to rumble!

Where It All Began

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