Identifying and Reducing Tax Regulatory Burdens

What it means

Directs Treasury to review all significant tax regulations issued since January 2016 and identify those that impose financial burdens, add complexity, or exceed IRS authority. The Secretary must recommend specific actions to mitigate these burdens and potentially delay or rescind problematic regulations.

Expected impact

• Potential relief for businesses and taxpayers through simplification of tax regulations
• Possible delay or elimination of Obama-era tax rules that were seen as burdensome
• Greater scrutiny of tax regulations through a revised review process, leading to a more streamlined tax system
• Alignment with the administration's broader deregulatory agenda to promote economic growth
• Improved clarity in tax guidance, potentially reducing compliance costs for taxpayers