Business Group Asks IRS to Withdraw, Reconsider Tax Rules

The National Foreign Trade Council is asking the government to withdraw or replace around 20 tax regulations and to propose new guidance on R&D expense amortization.

The NFTC joins other groups clamoring for an end to rules they and their members don’t like in recommendations submitted for the IRS’s 2025-26 Priority Guidance Plan.

The group recommends that rules on foreign tax credits, dual consolidated losses, and the corporate alternative minimum tax be withdrawn. It said the proposed stock buyback rules “contain numerous provisions that warrant reconsideration and ideally withdrawal, but NFTC’s concerns specifically address the issues with an ...