It’s not just the regulations and rulings of the Obama-era NLRB and Department of Labor that the Trump administration is looking to correct, as the Treasury Department this week released a report detailing the regulatory changes it will pursue. In an 11-page report entitled: Identifying and Reducing Tax Regulatory Burdens, the Treasury Department continued the Trump administration’s ongoing purge of overly burdensome regulations. Primary among the targeted regulations (and the very first one identified in the Treasury report) will be rescission of the tighter rules surrounding family gifts and bequests. You may recall that last August, the Internal Revenue Service released regulations to dramatically restrict tax options in cases of family gifts and bequests where “aggressive tax planning tactics” resulted in business owners paying “less than they should in estate and gift taxes.” After those regulations were published in August for public comment, a hearing was held and they went into effect in December. Fortunately, the Trump administration took note of the changes and is setting about reversing them.