5 Key Changes In Final IRS Pass-Through Deduction Rules
Jay Darby was quoted in the article, "5 Key Changes in Final IRS Pass-Through Deduction Rules," which was published by Law360 [sub. req.] on January 23, 2019.
The IRS appears to have wrestled with what constitutes a legitimate trade or business that would qualify for the 20 percent deduction, but ultimately fell back on what courts have decided in the past. Jay explains that the IRS "went to enormous explanation about why they couldn’t give any explanation as to what constitutes a trade or business. They danced around that issue."