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Treasury moves to repeal nearly 300 dead-letter tax rules

Treasury moves to repeal nearly 300 dead-letter tax rules

The Treasury Department announced Tuesday that it will move to repeal nearly 300 tax regulations that have become outdated.

The proposals for eliminating dead-letter rules stem from President Trump’s directive that the agency lower tax burdens.

“These 298 regulations serve no useful purpose to taxpayers and we have proposed eliminating them,” Treasury Secretary Steven Mnuchin said.

Many of the rules apply to provisions of the tax code that have since been repealed by Congress, or significantly revised, such as previous versions of the alternative minimum tax.

The Trump administration has moved to slow rule-making and lower regulatory burdens, including, in the first days Trump came into office, freezing new rules and requiring the elimination of two old rules for every new one imposed.

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