Recently, the IRS issued Notice 2025-22, announcing cuts of multiple “extraneous and unnecessary” IRS notices, announcements and revenue rulings. Similarly, the U.S. Treasury Department has released a direct final rule (https://bit.ly/3RYTcDb ) to abolish certain regulations “with the goal of reducing regulatory burden.” These include specific financial, banking and procedural rules. Stakeholders may submit comments about the Treasury’s plans by May 15, 2025. Unless “significant adverse comment” is received, the changes are scheduled to go into effect on June 16, 2025. Contact us with questions. © 2025