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JUST IN: The IRS has issued proposed and final regulations (REG-107459-24, T.D. 10031) amending the current regs to reduce the amount of the user fee imposed on authorized persons requesting an estate tax closing letter. taxnotes.co/4momWri

The IRS acting chief counsel has indicated that a reduction in force could affect attorney positions in associate chief counsel offices, according to an email obtained by Tax Notes bit.ly/3S7IXfX

House Ways and Means Committee Chair Rep. Jason Smith, R-Mo., said he included several Senate priorities in the tax bill and doesn’t expect that chamber to make significant changes to it. More from Katie Lobosco: taxnotes.co/4jWCReu

"“So I am a no on this bill unless serious reforms are made today, tomorrow, Sunday," Rep. Chip Roy Press Office said of the reconciliation bill now before the House Budget Committee. "We’re having serious conversations as we speak.” Tax Notes

"Sadly, I’m a hard no until we get this ironed out," said Rep. Ralph Norman, shortly following a similar statement from Rep. Chip Roy Press Office. Tax Notes

NEW: The IRS acting chief counsel has indicated that a reduction in force could affect attorney positions in associate chief counsel offices, according to an email obtained by Tax Notes. Lauren Loricchio has the story: taxnotes.co/3GY0Uet

"I am unable to support this bill in its current form,” Rep Andrew Clyde, R-Ga., said in House Budget making him the fourth Republican to say he can't vote to advance the reconciliation bill as is. Tax Notes

Thank you to everyone who joined us for last week's panel discussion on President Trump's tariffs and tax policy! Missed it live? Listen to the full podcast here: taxnotes.co/podcast Thanks again to our panelists, Ernie Tedeschi, Erica York, Kyle Pomerleau, and Ryan Finley!

My rundown on Republican opposition in Budget Committee (and SALT talks) for context here: taxnotes.com/tax-notes-toda…

Addressing U.S. concerns about pillar 2 and stabilizing the global minimum tax are OECD member countries' first priorities, and a return to discussions on pillar 1 “will come after,” a top OECD Tax official said. taxnotes.co/4mfjXRT

Rep. Lloyd Smucker changes his vote at the end of the markup in the House Budget Committee, so the reconciliation bill (including tax title) fails for now, 21-16. Markup enters recess as Chairman Arrington & Republicans figure out what's next.

Smucker context on why he swapped his vote (procedural reasons, not opposition to the bill): x.com/RepSmucker/sta…

The administration of Governor Janet Mills (D) has voiced its opposition to Maine legislation that would require voter approval for most tax or spending increases. Read more from Emily Hollingsworth: taxnotes.co/4jakSQT

From Ben Valdez: A proposal in House Republicans’ tax bill to retroactively terminate the ERC and extend the audit window would penalize businesses and nonprofits that applied in good faith, according to tax professionals and attorneys. taxnotes.co/4dgfZ7e

Texas has enacted new capital markets legislation, including a proposed constitutional amendment and a franchise tax exemption, reshaping how securities firms are taxed in the state. taxnotes.co/45bLwVU

If the House tax bill makes its way to the Senate after next week, it will be put through a “permanence” filter, and that includes the House taxwriters’ proposed 2030 sunset on business tax extenders, a Senate taxwriter told a group of tax professionals. taxnotes.co/4j8u4VU

WH statement on the reconciliation bill:

Check out the latest Throughline episode, where Tax Notes' Joe Thorndike helps explain how the hunt for Al Capone helped turn the IRS into one of the U.S. government's most powerful tools. npr.org/2025/05/15/125…

Hong Kong’s legislative council is moving forward with a proposal to use its existing general antiavoidance rule to address arrangements that can potentially exploit Hong Kong’s pillar 2 minimum tax rules. Read more from Stephanie Soong: taxnotes.co/3Sa6OMa

Tax professional bodies in the United Kingdom have raised concerns about HM Revenue & Customs's proposals on tackling rogue tax advisers, while investigative think tank TaxWatch has urged HMRC to use the powers it already has. taxnotes.co/44HwqY7