OMB’s Office of Information and Regulatory Affairs (OIRA) has acknowledged receipt of proposed regulations from Treasury to provide guidance concerning state and local tax (SALT) credits and charitable contributions.
These proposed regulations have joined other proposed regulations sections 199A and 385 for OIRA review. Treasury regulations that are identified as “major” regulations are subject to review by OMB’s OIRA before issuance, pursuant to Executive Order 13771. Read TaxNewsFlash
The U.S. Treasury Department and IRS would be expected to release the following proposed regulations once OIRA review is completed (according to information on the OIRA website):
Also currently pending OIRA review are regulations concerning enrolled agents.
Once OIRA review is completed, the regulations eventually would be expected to be released for publication in the Federal Register.
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