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New Trump Executive Order May Delay IRS Work

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New Trump Executive Order May Delay IRS Work
President Donald Trump’s executive order requiring federal agencies to eliminate two rules for every new one might delay the IRS’s work on regulations, including much-needed rules on the new partnership audit regime, former officials told Bloomberg BNA.

The Jan. 30 executive order is another significant step in Trump’s efforts to fulfill his campaign promise that he would cut back federal regulations. It follows a Jan. 20 White House memorandum placing a freeze on all federal rulemaking until the new administration can review all regulations in process.

Some practitioners and former officials said the new executive order adds to uncertainty in the tax world, saying it could drag out the time frame—or even lead to repeal—for regulations taxpayers need. One practitioner said the order could be a good thing that would cause the government to take a closer look at regulations.

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