The U.S. Treasury Department today released a report about regulatory actions in response to a 2017 executive order.
Read the Treasury report [PDF 169 KB], Regulatory Reform Accomplishments under President Trump’s Executive Orders
Today’s Treasury report generally provides a summary of actions taken thus far with respect to the tax regulations previously identified.
President Trump in April 2017, signed an executive order (Executive Order 13789) directing the U.S. Treasury to examine recent tax regulations to determine whether any of the regulatory projects: (1) imposed an undue financial burden on U.S. taxpayers; (2) added undue complexity to the federal tax laws; or (3) exceeded the statutory authority of the IRS.
According to the executive order, Treasury was to take “appropriate steps” to delay or suspend the effective date of the identified regulations, and to modify or rescind the regulations, through notice and comment rulemaking. Read TaxNewsFlash
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