IRS Releases Proposed Rules, ‘Dirty Dozen’ Scams List: BGOV Tax

IRS Proposes Scrapping Biden-Era Rules

The IRS had a busy day Thursday, releasing multiple guidance items and its annual “dirty dozen” list of tax scams.

The agency proposed rules that carry out the Trump administration’s efforts to pull back on a Biden-era initiative to get tough on big partnerships.

That guidance would rescind reporting requirements for certain partnership-related transactions. The Biden administration had issued rules in January 2025 categorizing the basis-adjustment transactions as potentially abusive transactions that need to be reported to the IRS, but businesses viewed them as burdensome and the Trump administration agreed with the critics. Republicans in ...