Tax loophole from 1960s could let the wealthy use lower corporate rate for themselves

Since Trump signed the tax legislation, accountants, attorneys and the Internal Revenue Service have spent months trying to discern its implications. One reason for the struggle is that rather than replace old tax laws with a new regime, Republicans grafted the new law onto decades of old regulations, leading to unintended consequences. Tax professionals say they think the offshore loophole could help wealthy Americans who have investments that yield interest, rent or royalties defer millions of dollars in taxes.