Tax and Climate Guidance Pushes Back Other Rules, Treasury Says

The Treasury Department’s need to produce guidance on implementing the provisions of President Joe Biden’s tax-and-climate law has delayed some of the department’s other rulemaking projects, a Treasury official said Tuesday.

“We’re trying to get everything out we see as a priority, but we’re having to prioritize within the list of priority items,” said Timothy Powell, a Treasury tax policy adviser, speaking at an International Fiscal Association virtual conference.

• As Treasury has rushed to generate guidance on provisions like the corporate alternative minimum tax (CAMT), enacted in August as part of the tax-and-climate law, other planned regulations have slipped ...