Battle over Contentious IRS Regulations About to Heat Up
Tax attorney Joshua Odintz was quoted in a Bloomberg Tax article previewing how the newly inaugurated Trump Administration will approach IRS regulations and enforcement. An overall deregulatory focus is anticipated, and Mr. Odintz commented that, similar to the first Trump term, the 47th president could issue executive orders instructing federal agencies to review regulations and flag ones deemed "illegal or burdensome to businesses." He also said that the IRS' rules on dual consolidated losses and disregarded payment losses – the so-called "double dipping rules – are likely to face scrutiny, though because they don't take effect until 2026, the administration could simply delay implementation and "effectively take them off the table in the short term."
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