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IRS Wants Taxpayers to Avoid Amended Returns When Guidance Shifts

Feb. 13, 2020, 9:00 PM

The IRS wants to find ways to help taxpayers take advantage of favorable regulatory changes as they evolve without having to amend their tax returns.

IRS rules often start out as subregulatory guidance—as in the form of a notice—then go through the full rulemaking process with a proposed version followed by a final regulation.

“In general, and I think almost always, that tends to be more favorable as we get comments and make changes to our proposed regulations and our subregulatory guidance,” IRS Chief Counsel Michael Desmond said Thursday at a Tax Council Policy Institute conference in Washington.

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