Senate Committee Reviewing IRS Rulemaking Practices

Senate Committee Reviewing IRS Rulemaking Practices The matter of IRS compliance with the federal law concerning the rulemaking process has arisen again, this time due to a report by the Cause of Action Institute. As has been discussed in these pages previously (most recently, in the November and December 2016 issues), federal law requires agencies to conduct an economic analysis of a proposed rule that is likely to have a significant economic impact on small entities. Federal agencies include this information when publishing the proposal in the Federal Register.The IRS does not conduct these economic analyses—the import of this report. The agency is of the view that its rules do not have economic effect because any economic impact is attributable to the underlying statutory law.The Senate Committee on Homeland Security and Governmental Affairs has decided to examine the extent to which federal agencies conduct their rulemaking. In a letter to the IRS acting commissioner, dated February 13, the chairman of the committee and the chairman of the Subcommittee on Regulatory Affairs and Federal Management requested information about the IRS's “justification for not producing economic analyses during its rulemaking process and urge[d] the agency to reconsider its policy.”This letter requests various items of information, including an http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Bruce R Hopkins' Nonprofit Counsel Wiley

Senate Committee Reviewing IRS Rulemaking Practices

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Publisher
Wiley Subscription Services, Inc., A Wiley Company
Copyright
Copyright © 2018 Wiley Periodicals, Inc., A Wiley Company
ISSN
1542-8419
eISSN
1542-8427
D.O.I.
10.1002/npc.30454
Publisher site
See Article on Publisher Site

Abstract

The matter of IRS compliance with the federal law concerning the rulemaking process has arisen again, this time due to a report by the Cause of Action Institute. As has been discussed in these pages previously (most recently, in the November and December 2016 issues), federal law requires agencies to conduct an economic analysis of a proposed rule that is likely to have a significant economic impact on small entities. Federal agencies include this information when publishing the proposal in the Federal Register.The IRS does not conduct these economic analyses—the import of this report. The agency is of the view that its rules do not have economic effect because any economic impact is attributable to the underlying statutory law.The Senate Committee on Homeland Security and Governmental Affairs has decided to examine the extent to which federal agencies conduct their rulemaking. In a letter to the IRS acting commissioner, dated February 13, the chairman of the committee and the chairman of the Subcommittee on Regulatory Affairs and Federal Management requested information about the IRS's “justification for not producing economic analyses during its rulemaking process and urge[d] the agency to reconsider its policy.”This letter requests various items of information, including an

Journal

Bruce R Hopkins' Nonprofit CounselWiley

Published: Jan 1, 2018

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