Legislation

IRS Cracks Down on the ‘Crack and Pack’

The sweeping tax overhaul enacted by Congress last year created a special 20% deduction for small-business owners—and left many of them waiting to find out exactly who will benefit.

On Wednesday, the Treasury Department provided some answers. Many high-earning real estate and insurance brokers will get the tax break, but equally-paid doctors, lawyers or financial advisers won’t.

Owners…


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