The Future Of Tax Regulations After Loper Bright

In a recent episode of Tax Notes Talk, experts Steve Rosenthal and Don Susswein discussed the implications of the Loper Bright decision on agency delegation in tax regulations. They emphasized the importance of having clear standards for Congress when delegating authority to the IRS and Treasury. The conversation highlighted the challenges of interpreting legislative purpose, which can often lead to subjective decision-making. Susswein noted that while there may not be many tax emergencies, the IRS could still provide guidance through revenue procedures, allowing taxpayers to opt into certain filing methods for clarity and certainty. Rosenthal added that both Congress and taxpayers benefit from comprehensive guidance, suggesting that the current system is functioning adequately despite potential limitations on regulatory authority.