The Goal of the Section 199A Deduction Is to Lower

question 99

True/False

The goal of the Section 199A deduction is to lower the effective tax rate on business profit earned by pass through entities.

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Definitions:

Fair Credit Reporting Act

A federal law designed to ensure the accuracy, fairness, and privacy of information in consumer credit bureau files, and to protect consumers from unfair credit reporting practices.

Identity Theft

The fraudulent acquisition and use of a person's private identifying information, usually for financial gain.

Federal Trade Commission

A United States federal agency established to enforce antitrust and consumer protection laws to ensure healthy competition and protect consumers from unfair business practices.

Consumer Products

Goods produced for personal use by the general public, including items for personal care, entertainment, and household use.