Final Rules Issued for Trump's Tax Law

The Treasury Department and IRS on Friday released final regulations on a new deduction for noncorporate businesses created under President Trump’s tax law.

The final rules come less than two weeks before the Jan. 28 start of the tax-filing season. A senior Treasury official said that the department sought to finalize the rules before the filing season began.

The 2017 tax-cut law created a 20 percent deduction for income of noncorporate businesses known as “pass-throughs.”

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