Tax Challenges May Abound if IRS Misses Deadline to Finish Rules

Treasury and the IRS could be at risk of challenges to tax overhaul regulations if they don’t make potentially controversial rules final in the next six weeks.

The Treasury Department and Internal Revenue Service have until June 22—exactly 18 months after the 2017 tax overhaul was signed into law—to make rules final if they want them to be retroactive to the law’s enactment date.

Meeting this deadline for regulations in both the international and domestic spaces is a stated goal of Treasury and IRS officials.

“But really the only thing that needs to be finalized by that June 22 ...