The Section 199A pass-through deduction, also known as the Qualified Business Income (QBI) deduction, offers significant tax savings for eligible business owners. This deduction allows certain individuals to deduct up to 20% of their qualified business income from domestic businesses operated as a sole proprietorship, partnership, S corporation, trust, or estate.

In a move set to redefine the refund process, the Internal Revenue Service (IRS), in collaboration with the U.S. Department of Treasury, has announced the gradual phasing out of paper tax refund checks starting September 30, 2025, as mandated by Executive Order 14247.