Pass-Through Rules May Treat Service Providers Unequally

Law360 (August 8, 2018, 8:44 PM EDT) -- The IRS' proposed regulations for a new 20 percent deduction on pass-through income would make it harder to exploit the tax break, but one narrowly defined restriction on who qualifies could allow some high-income service professionals to benefit unfairly while barring others.

The Tax Cuts and Jobs Act left it up to the Internal Revenue Service to figure out how to treat certain trades and businesses in determining eligibility for the 20 percent deduction on pass-through income. (AP)

The Tax Cuts and Jobs Act, enacted in December, had aimed to prevent certain high-income earners from getting the tax deduction intended for small-business owners...

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