U.S. Treasury Department rules outlining which pass-through entities can claim the new 20% qualified business income (QBI) tax deduction are expected by the end of July, according to a report in AccountingToday. New IRC Code Section 199a allows a 20% write-off of QBI for sole proprietors, owners of S corporations, and members of partnerships/LLCs. But Section 199a is 22 pages long with about 20 defined terms, dozens of cross-references within the new section and to other sections, and complicated computations. The long-awaited guidance will hopefully clarify things. “Hundreds of thousands of U.S. employers still don’t know if they qualify,” says the report.