ARA Sent a Letter to Federal Agency Officials on the Tax Cuts and Jobs Act
May 28 2020
On Mary 28, ARA sent a letter to Treasury Secretary Steven Mnuchin, Acting Director of Office of Management and Budget Russel Vought, and Administrator of Office of Information and Regulatory Affairs Paul Ray on the Internal Revenue Service's (IRS) intent to finalize regulations regarding Section 199A of the Tax Cuts and Jobs Act, and amendments therein.
ARA encourages the U.S. Treasury Department and the IRS to include nonpatronage income in the deduction's calculations as the U.S. Treasury Department and the IRS work to finalize regulations regarding this issue.
Read the three main objectives ARA says should remain in order to protect cooperatives and their farmer patrons.