Daily Tax Update - October 5, 2016: Ways and Means Republicans Urge Delay in Issuing Earnings-Stripping Regulations

Ways and Means Republicans Urge Delay in Issuing Earnings-Stripping Regulations:  Today, the House Ways and Means Committee Republicans wrote a letter urging the Treasury Department and the Office of Management and Budget (OMB) to delay issuance of the debt-equity rules proposed under section 385.  The members argued that Treasury should instead reissue revised proposed rules and finalize them only after the “vetting necessary to ensure that the rules are right.”