U.S. Treasury proposes tax rules on pass-through businesses

WASHINGTON (Reuters) – The U.S. Treasury on Wednesday proposed tax regulations for a new 20 percent income tax deduction for owners of businesses organized as pass-through entities, including rules to prevent the measure from becoming a tax loophole for wealthy Americans.

FILE PHOTO: U.S. Secretary of the Treasury Steven Mnuchin arrives for a news conference at the G20 Meeting of Finance Ministers in Buenos Aires, Argentina, July 22, 2018. REUTERS/Marcos BrindicciREUTERS/ /File Photo

Senior Treasury officials said the regulations are intended to provide everything pass-through owners…

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