Article
Treasury Course Corrects, Pulling Two Heavily Criticized Reg Packages
The Treasury Department has significantly shifted its approach to corporate and partnership tax regulation in 2025, withdrawing several proposed rules that faced criticism for being overly burdensome and complex. This regulatory rollback, driven by executive orders aimed at reducing compliance costs, has left taxpayers and advisors navigating uncertainty about which transaction structures remain permissible and how the IRS will enforce substantive tax rules without mandatory reporting requirements.
Cadwalader, Wickersham & Taft LLP