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Increased Oversight for Major IRS Tax Regulations

This Act mandates an extra layer of review for the most significant new tax regulations issued by the Internal Revenue Service (IRS). Any major new tax rule that could impact the economy by $100 million or more annually, or raise novel legal issues, must now be scrutinized by the Office of Information and Regulatory Affairs (OIRA). This change aims to increase transparency and consistency in rulemaking, potentially slowing down the introduction of new tax obligations but ensuring they are thoroughly vetted.
Key points
Significant new tax rules issued by the IRS (covering income, excise, estate, and employment taxes) will require mandatory external review by OIRA.
This review applies specifically to rules with a large economic impact (over $100 million annually) or those introducing complex, new legal policies.
The goal is to enhance IRS accountability and ensure new regulations are consistent and economically justified before implementation.
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Additional Information
Print number: 118_S_2981
Sponsor: Sen. Lankford, James [R-OK]
Process start date: 2023-09-28
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

IRS Accountability and Transparency Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_2981.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-09-28.

What are the main provisions?

Key points include:

  • Significant new tax rules issued by the IRS (covering income, excise, estate, and employment taxes) will require mandatory external review by OIRA.
  • This review applies specifically to rules with a large economic impact (over $100 million annually) or those introducing complex, new legal policies.
  • The goal is to enhance IRS accountability and ensure new regulations are consistent and economically justified before implementation.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Lankford, James [R-OK].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Economy