Please enter your email address to receive a password reminder.
Log into Tax-News+
The Internal Revenue Service (IRS) and the Treasury are seeking feedback on what guidance should be prioritized to clarify parts of the tax code and explain policies.
The 2017-18 Priority Guidance Plan is intended to "identify and prioritize the tax issues that should be addressed through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance."
The IRS said that this year's consultation is particularly important in light of the recent Executive Order no. 13771, on "Reducing Regulation and Controlling Regulatory Costs." This order requires federal agencies to repeal two existing regulations for every new regulation, whilst reducing the cost of regulations. As well as asking for feedback on areas where guidance and clarification is required, the agency is hoping to hear from taxpayers as to how to reduce taxpayer compliance burdens while complying with that Order.
Comments should be submitted by June 1, 2017.
IMPORTANT NOTICE: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
All rights reserved. © 2017 Wolters Kluwer