Tax attorney Greg Jenner recently was interviewed about how the IRS is preparing for the new regulations under the recently enacted tax law.
Jenner explained that the IRS is using this opportunity to adhere to the 2017 executive order directing federal agencies to eliminate two regulations for every new one. He agreed that eliminating unnecessary regulations is generally best practice, but in this case, he worries that resources are not being properly allocated to implementing the 2017 tax act. “We need these very, very smart people focusing on the new law and not clearing out underbrush,” he said.
Read the full article, “IRS Plans to Kill 298 Tax Rules Ahead of Tax Law Implementation(1),” published on Feb. 13, 2018.