The last-minute plan to avoid the “fiscal cliff” on January 1 left many central budget questions without permanent answers—and law firms, which reaped the benefits of this ambiguity during the past couple of months, are now predicting more work from clients uncertain about how to proceed.
Firms benefited from the the lack of a resolution and the possibility of a failure to reach a deal in Washington—which could have led to significant, mandated tax hikes and spending cuts. As talks picked up steam, corporations worried about how to proceed as 2012 drew to a close caused a flood of activity for law offices preparing clients for various contingencies.
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