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Treasury proposes repeal of 298 outdated tax rules

The Treasury Department has announced a proposal to repeal 298 tax rules that are unnecessary, duplicative or obsolete. The proposal, to be published tomorrow, would repeal provisions of IRS regulations in three categories:

  • those interpreting provisions of the Internal Revenue Code that have been repealed;
  • those interpreting provisions of the Code that have been significantly revised and the existing regulations don't account for those revisions; and
  • those that are no longer applicable.

Comments on the proposal and requests for a public hearing are due by May 14, 2018.
Update: Corrected publication date to February 15, 2018 (83 FR 6806)

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