White House Issues Executive Order Targeting Tax Regulations

President Donald Trump issued an executive order (EO) on April 21 directing Treasury to review "all significant" regulations issued after Jan. 1, 2016, and recommend for modification or rescission any that impose an undue financial burden on U.S. taxpayers, add undue complexity to federal tax laws or exceed the statutory authority of the IRS.

The EO requires Treasury to complete the report within 60 days of the date of the order, which was issued on April 21. Within 150 days of that date, Treasury is to recommend specific actions to "mitigate the burden imposed by regulations" identified in that report. Treasury is authorized as part of that mitigation to delay or suspend effective dates and modify or rescind regulations it deems to be burdensome to taxpayers.