Daily Tax Report ®

Pretend Retail Tax Glitch Doesn’t Exist, Business Group Asks IRS

Nov. 28, 2018, 6:56 PM

Construction, retail, and restaurant business owners want the IRS to essentially turn a blind eye for at least a year to an error in the 2017 tax overhaul’s full expensing provision.

“This drafting error has forced me to reevaluate my plans for the future” and “has greatly impacted business owners planning remodels,” Matthew Herridge, co-owner of West Virginia-based Charton Management Inc., which manages several Burger King and Qdoba restaurants, told Internal Revenue Service and Treasury Department officials during a Nov. 28 IRS hearing.

Speaking on behalf of a coalition of dozens of businesses advocating for a congressional or...

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