Book-Tax, Double-Dipping Rules Among Top Candidates for Rollback

Rules on the corporate book-income tax, the stock-buyback tax, and “double-dipping” of corporate losses are among the likeliest that the Treasury Department may seek to roll back or revamp as part of its deregulatory push, tax practitioners and other observers say.

Commenters have made a flurry of suggestions in recent months on which rules they want to see Treasury claw back, in what they view as a rare opportunity to shrink a body of tax regulations they see as a drag on their business and on economic growth. The latest version of Treasury’s semiannual regulatory agenda, which may offer clues ...