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Jorge Castro Comments on Treasury Regulatory Announcement in Politico Morning Tax

Subtitle
"Eyeing the French"

Politico

Jorge Castro commented on the recent U.S. Treasury policy statement that it would curb the use of several of its regulatory tools, including sub-regulatory guidance such as revenue rulings and procedures. The Supreme Court will soon hear arguments in a case that could undercut the so-called "Auer deference" rule, which generally requires courts to side with agencies’ interpretations of their own regulations in legal disputes. "The thinking is that clearly the Supreme Court is going to take a run at it. I think Treasury clearly must have that in the back of their minds," Castro said, noting that tax practitioners would be more concerned with the related Chevron doctrine that states courts should defer to agencies' statutory interpretations.