Partners Jennifer Breen and Matthew Schnall were quoted in a Bloomberg Law article that discussed the impact of the US Supreme Court’s decision to overturn the Chevron doctrine on IRS rulemaking authority.
Jennifer noted that the ruling will make regulation promulgation more time-intensive for the IRS, Treasury Department, and those awaiting guidance. Matt told the publication that tax professionals will have to be more cautious when relying on regulations.
“One aspect of practice that needs to change a little bit is the level of certainty that we as practitioners give to a regulatory interpretation of the law when we advise clients,” Matt said.
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