This is something really interesting which I came across. As per published reports an IRS pilot project us asking the people responsible for creation of shelters and benefiting from the tax code loopholes i.e. accountants and tax lawyers and are seeking assistance for drafting of new tax rules.
Some say that it has become a common practice for federal government to ask outsiders to undertake work in drafting tax rules which could result in conflicting interest since they might take into account their personal or client’s interest.
Reacting to all this Donald L. Korb, IRS general counsel stated that they were not downplaying the traditional process and only non controversial and technical issues would be taken into account and all the rules framed would have to seek the final approval of IRS attorneys before being brought into practice. I was just wondering whether this law would backfire because biased opinions are bound to be included and this could have a negative effect on the tax system.
Via webcpa
