Chrysler Chairman Lee A. Iacocca is expected to take on the Reagan administration's tax revision program today in what several of his aides say will be his first comments on the subject.

Iacocca, who repeatedly has denied rumors that he is seeking the U.S. presidency but who often has acted like a candidate, will make his address in Washington at the quadrennial education conference of the Financial Analysts Federation.

"He will take a fairly high-road kind of approach. He probably will say that we should not be worrying about tax reform if it will divert serious attention from the federal deficit and the U.S. trade deficit," one top Iacocca aide said yesterday.

Iacocca consistently has blamed both deficits for the increasingly noncompetitive posture of America's basic industries. "America is getting whipped," he said in a commencment address last week at the Massachusetts Institute of Technology.

"Until we fix the trade deficit, this country won't be able to compete. So, get mad. Get mad at those people in Washington. Get mad at anybody who tells you that you'll have to settle for less," Iacocca told the MIT graduates.

Iacocca's aides yesterday suggested that he might agree to accept certain portions of of Reagan's tax plan, which would eliminate many current business deductions. "His point will be that we should not be spending so much time doing this, that we should really get to work on the real problems, those deficits," one aide said.

On a related matter, a report in the current edition of Automotive News said that Reagan's tax proposals could stimulate car sales at the low end of the domestic market -- cars costing below $10,000 -- by putting more disposable income into the pockets of working Americans.