Tax Regulation at Center of GOP Dispute

Tax Regulation at Center of GOP Dispute

The Republican Party is in disagreement over which agencies should have say in writing new regulations from last year’s tax legislation. Some think the Office of Management and Budget should be involved, replacing the U.S. Treasury Department and IRS. These new tax laws would define key terms for partnerships, corporations and international businesses. If the OMB gets involved, it will be the first time on 35 years that tax regulations get a full review from the office.

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