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IRS to Compress Comment Deadlines for Regs

Posted on Feb. 3, 2020

As part of an IRS effort to expedite the regulatory process, practitioners should expect to see tighter time frames to comment on proposed regulations, according to an agency official.

“I think there’s an effort to say we need to speed up this process of getting from proposed to final,” Stephen Tackney, deputy associate chief counsel (employee benefits), IRS Office of Associate Chief Counsel (Employee Benefits, Exempt Organizations, and Employment Taxes), said January 31. “We are trying to move guidance along.”

Speaking at the American Bar Association Section of Taxation meeting in Boca Raton, Florida, Tackney said he understands the change might pose challenges for some groups, but noted that comments submitted after the deadline are still posted online and could be considered by the IRS.

The IRS takes seriously its responsibility not to make any decisions about the regulations before the comment period has elapsed, Tackney said. That’s so taxpayers know their comment will be fully considered if it’s submitted by the deadline, he added.

Robert J. Neis of Eversheds Sutherland (US) LLP noted that the deadline for commenting on the new proposed sections 162(m) regulations (REG-122180-18) was relatively tight. They were issued December 16, 2019, and the deadline for submitting comments is February 18. A hearing on the regs, which address the changes to the executive compensation deduction limitation made by the Tax Cuts and Jobs Act, is scheduled for March 9.

An IRS official made similar comments to Tackney’s in May 2019, warning that taxpayers should be acutely aware of comment deadlines given the push to get TCJA guidance out quickly.

In addition to working on TCJA-related guidance, Tackney said the IRS is looking at issues with section 402(b) plans, including some abusive schemes that have cropped up.

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