Treasury has just 45 days to write some rules for Trump's Big Beautiful Bill. That's not much time considering how complex this stuff gets.
Take the tip tax exemption - they have to define which jobs historically get tips so businesses can't game the system.
Like, car dealers can't suddenly start asking for tips just to dodge taxes.
By October, IRS must publish a list of jobs that "customarily and regularly" got tips before December 31, 2024. Good luck with that.
They also need to figure out what counts as "final assembly" for the domestic auto loan deductions and define manufacturing structures that qualify for new construction expense deductions.
Oh and the Supreme Court's Loper Bright decision just made this way harder by limiting how much agencies can interpret unclear laws.
