Treasury report details next steps for controversial guidance projects

The Treasury on Oct. 4 released a report to President Donald Trump on the future of eight controversial tax regulation projects promulgated by the government since Jan. 1, 2016.

The report, “Identifying and Reducing Tax Regulatory Burdens,” follows up on an initial Treasury report, Notice 2017-38, which identified the eight projects as either imposing an undue burden on U.S. taxpayers or adding undue complexity to federal tax laws. The Treasury Department determined that none of the eight projects exceeded the statutory authority of the IRS.

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