Groups Urge Treasury to Roll Back Double-Dipping, Spinoff Rules

Rules on “double-dipping” of corporate losses and tax-free corporate spinoffs should be withdrawn, business groups and tax practitioners told the Treasury Department in letters released Friday.

The letters came in response to an April request from Treasury on what guidance projects it should focus on in the coming year as part of its Priority Guidance Plan. This year, Treasury specified it wanted to focus on ideas for reconsidering or scaling back existing regulations, in line with President Donald Trump’s deregulatory initiative.

Business groups in recent months have floated many of the same ideas for withdrawing regulations, including rolling back the ...