Washington – The U.S. Department of the Treasury finalized the repeal of 296 unnecessary, duplicative or obsolete tax regulations that have forced taxpayers to waste both time and resources. Treasury’s efforts to eliminate regulatory “deadwood” helps advance the policies of President Trump’s Executive Orders 13777 and 13789, which direct Treasury to identify and reduce burdensome tax regulations.
“Balanced regulation is important for a healthy economy. Unnecessary regulation creates compliance costs and confusion that make it difficult for American businesses, families, and workers to get ahead,” said Secretary Steven T. Mnuchin. “By eliminating nearly 300 regulations that serve no useful purpose to taxpayers, we are building a more efficient tax regulatory system that promotes economic growth.”