TPA Demands Action: Stop IRS Overreach and Restore Taxpayer Protections

On April 29th, the Taxpayers Protection Alliance (TPA) sent a letter to the Internal Revenue Service (IRS) and the Department of Treasury, urging the agencies to withdraw the partnership basis Revenue Ruling 2024-14. This rule allows the IRS to override clear tax code provisions to favor subjective interpretations of the law, creating legal uncertainty for taxpayers and eroding the rule of law. In the letter, TPA urges for the strengthening of taxpayer protections against unchecked regulatory power and agency overreach, which has led to arbitrary enforcement and unnecessary legal battles. By eliminating this ruling, the administration can take a valuable step reining in rogue agencies and correct past mistakes.