Monte Jackel Quoted in Law360 and Elsewhere on Trump Efforts to Cut Tax Regulations
Law360 has quoted Monte Jackel, senior counsel in the tax practice at Akin Gump, in “Axing Obama Tax Regs Could Reopen Loopholes,” an article that examines President Trump’s efforts to eliminate tax regulations stemming from the Obama administration. The article references an executive order from last week instructing the Treasury Department to review all significant tax regulations issued since 2016, which it says is raising concerns about new loopholes that could diminish tax revenues.
Jackel, who wrote about the topic in this article for MNE Tax, said the path to revoking or modifying existing regulations may not be an easy one. Many within the Treasury Department who drafted and approved the regulations under review will have to be consulted, he said, yet they are the same people who will have to decide if the regulations they worked on are unduly burdensome, costly or even beyond their statutory authority.
Jackel added, there is a good chance career Treasury staff will be able to justify any compliance burdens caused by the regulations, by saying their job was limited to interpreting tax laws passed by Congress, and therefore, it is the laws themselves that are burdensome and complicated.
POLITICO’s “Morning Tax” also quoted Jackel on the topic.