On 15 February 2018, a notice of proposed rulemaking from the U.S. IRS on Eliminating Unnecessary Tax Regulations was published in the Federal Register for comment.
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SUMMARY:
Pursuant to the policies stated in Executive Orders 13777 and 13789 (the executive orders), the Treasury Department and the IRS conducted a review of existing regulations, with the goal of reducing regulatory burden for taxpayers by revoking or revising existing tax regulations that meet the criteria set forth in…