The world of federal tax law has one constant: change. Those who practice in this area get used to an almost daily flow of regulations and rulings from the Internal Revenue Service (IRS) and federal agencies. We are always reviewing the latest revisions and looking ahead to those in process.
A critical function of the section is to provide commentary to tax-writing committees in Congress, the Treasury Department and IRS regarding new proposals. In the past year, the section provided more than 40 comment letters on far-ranging tax issues. We see many of our suggestions become part of federal law, and other ideas dropped in response to our critical analysis.
