A federal rule aimed at limiting corporate "earnings stripping'' for tax avoidance purposes may pose an undue burden on taxpayers and may be changed or rescinded, according to a U.S. Internal Revenue Service notice.
The notice, published Friday afternoon, cites seven other tax-related regulations that will be subjected to additional scrutiny and possible changes later this year, including a controversial measure designed to prevent deep discounts in the valuation of estates for tax purposes.
In April, President Donald Trump ordered the U.S. Treasury Department to review federal tax regulations issued after Jan. 1, 2016. The review would target "things that are significant and create complexity and undue burdens,'' Treasury Secretary Steven Mnuchin said at the time.
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