DC Tax Flash: IRS Solicits Input on Ways to Ease Regulatory Burden During Virus Recovery
The Internal Revenue Service (IRS) today issued a request for public input on "regulations and other requirements that can be rescinded, modified, or waived to assist business and individual taxpayers with the ongoing economic recovery from the Coronavirus Disease 2019 pandemic."
The move was prompted by the president's Executive Order 13924 on Regulatory Relief to Support Economic Recovery, which directed federal agencies to take action "rescinding, modifying, waiving, or providing exemptions from regulations and other requirements that may inhibit economic recovery, consistent with applicable law and with protection of the public health and safety, with national and homeland security, and with budgetary priorities and operational feasibility."
Today's request for comment is scheduled to be published in the Federal Register on November 17, 2020, with public input on the request due 45 days later.
The five-page text of the IRS solicitation is posted here.
Miller & Chevalier Coronavirus Task Force
The outbreak of COVID-19 is creating significant business and legal challenges for companies throughout the world. In response to client demand, the firm has formed an interdisciplinary task force to help businesses navigate these issues.
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