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Internal Revenue Service › Regulatory Reform › New Regulations

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Orrick, Herrington & Sutcliffe LLP

Treasury revokes final rule following Congress’s repeal

Orrick, Herrington & Sutcliffe LLP on

On July 11, the IRS published a rule in the Federal Register revoking a rule the IRS had issued in December 2024 after the rule had been repealed by Congress under the Congressional Review Act. The final rule, “Gross Proceeds...more

Husch Blackwell LLP

New Executive Order Targets Wind and Solar Tax Credits

Husch Blackwell LLP on

On July 7, 2025, President Trump signed the executive order “Ending Market Distorting Subsidies for Unreliable, Foreign-Controlled Energy Sources.” The EO directs the Secretary of the Treasury to “strictly enforce” the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Executive and Administrative Changes Shape Tax Policy Ahead of Legislation - The Trump Administration’s First 100 Days

Skadden, Arps, Slate, Meagher & Flom LLP on

The Trump administration has declared that prior U.S. commitments under the OECD’s Pillar Two agreement would have no domestic effect unless approved by Congress, reflecting long-standing opposition....more

Lowndes

Do Tax Regs Have an Out From the New 2-1 Rule?

Lowndes on

As I previously discussed (here), President Trump issued an Executive Order requiring government agencies to identify two regulations for repeal for every new regulation that they wish to issue. The initial reaction of this...more

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