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Apr
13

Trump’s Budget Director Wins Push to Review IRS Tax Regulations

Editor’s Note: Also see Jim Tozzi on OMB Review of IRS Regulations. The 2018 Treasury—OIRA Memorandum of Agreement (MOA) which places IRS regulations under OIRA review is available here. The 1983 MOA and its 1993 reaffirmation are available here

From: Bloomberg

By Alexis Leondis and Laura Davison

  • Treasury officials say they’re pleased with the new framework
  • IRS to consult with OMB on regs with effects over $100 million

White House Budget Director Mick Mulvaney successfully won his push to weigh in as the Internal Revenue Services clarifies dozens of the new tax law’s provisions.

A joint statement Thursday from the Office of Management and Budget and Treasury Department establishes a new process for reviewing tax regulations following months of debate. Since 1983, most IRS tax regulations have been exempt from the OMB’s cost and benefit analysis, which applies to most executive agencies.

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