How Recent Actions Could Limit IRS Regulatory Authority

Law360, New York (May 2, 2017, 10:57 AM EDT) -- While in recent years, both the legislative and judicial branches have shown significant hostility to the broad regulatory powers of the federal agencies, President Trump has continued that hostility in the executive branch as well.

Several recent developments in all three branches of the federal government suggest that there may be a significant curtailing of regulatory authority. While tax guidance is unlikely to be the primary target, this push for regulatory reform could have a significant impact on IRS regulations.

Legislative Developments

On Jan. 11, 2017, the U.S. House of Representatives passed H.R. 5, the "Regulatory Accountability Act of 2017," sponsored...

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