missingdonut wrote:even if the error is not attributable to the §199A deduction.
JR1 wrote:Whoa! Since when do IRS personnel get to make that decision?? That's a legislative item, not a bureaucratic one.
How is promulgating regs, in accordance with the intent of Congress, not the role of the IRS?
Jeff-Ohio wrote:I think JR1 might be saying that, as to “Is the operation a trade or business?” issue, it would be out of bounds for the IRS to create Regulations. Numerous statutes, including 199A, use the “trade or business” phrase and I see no reason why the IRS would all of sudden take it upon themselves, or interpret a Congressional reg-writing directive within a statute, to define “trade or business.”
The trade/business concept is not a new concept introduced by Sec 199A. As such, Treasury does not need to write Regulations on that point “necessary to carry out the purposes of this section.”
From the Committee Reports to the Revenue Act of 1980 (startup expenses).
I don't recall seeing contrary examples in the Committee Report.
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