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Pass-Through Rules May Ease Tax Planning For Law Firms

Law360 (August 10, 2018, 7:17 PM EDT) -- The IRS’ proposed regulations for pass-through businesses, at first glance, appear to have significantly hampered strategies that lawyers and accountants were considering to get a tax break, but a closer look shows that the rules may actually simplify tax planning for the firms.

The U.S. Department of the Treasury released proposed regulations Wednesday on a 20 percent deduction for pass-through businesses introduced as part of the Tax Cuts and Jobs Act. (AP)  After Congress introduced a 20 percent deduction for pass-through businesses last December, law firms...
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