If the GOP tax bill passes as expected, the IRS could spend years trying to prevent people from gaming the new system, said Scott Hodge, president of the conservative-leaning Tax Foundation.
Tax analysts worry that wealthy Americans could reap massive windfalls by simply reclassifying their incomes as so-called pass-through businesses.
The compromise House and Senate Republican tax bill, likely up for a vote this week, includes a pass-through rate cut from 39.6 percent to as low as 29.6 percent, subject to some limitations. The pass-through provision would also provide a 20 percent deduction for the first $315,000 of qualified business income.
