State and Local Tax (SALT) attorney Bruce Ely was quoted in State Tax Notes on a regulatory freeze issued by the new administration on proposed regulations for implementing a centralized partnership audit regime. White House Chief of Staff Reince Priebus ordered the immediate withdrawal of all federal regulations that had been sent to the Office of the Federal Register but not yet published.
“It’s disappointing that the proposed regulations were ordered withdrawn after we tax practitioners have been anxiously awaiting them for months now, but the Obama administration issued the same sort of executive order when President Obama first took office,” explained Ely, a member of a joint tax force that drafted Model Uniform Statute for Reporting Adjustments to Federal Taxable Income and a description of the model’s new provisions.
The complete article, “Trump’s Regulatory Freeze Extends to IRS Partnership Audit Rules,” appeared in Tax Notes on January 24, 2017. (login required)