Monte Jackel Quoted in Tax Notes Today on Opportunities for Reorganization of IRS and Treasury
Akin Gump senior counsel Monte Jackel has been quoted in Tax Notes Today’s “News Analysis: A Chance to Reorganize the IRS and Treasury.” The article discusses the opportunities for the Department of the Treasury and the IRS stemming from President Trump’s call for reducing regulatory burdens and reorganizing the executive branch.
The article reports that one potential target of the executive order might be the tax guidance drafting process. Jackel, a former attorney-advisor in the Treasury Department’s Office of Tax Policy (OTP), said, “The process is intentionally left vague to be flexible,” adding that the flexibility means interactions between Treasury and the IRS can cause delays and changes in policy direction in a project.
Jackel questioned Treasury’s involvement in regulation writing, saying that a system that requires the IRS to work with a companion Treasury lawyer could be easily changed since there is “no magic to it.” Crucial to any increased independence of IRS chief counsel in guidance drafting would be to stop the budgetary bleeding of the agency, he added.
Jackel also noted that the relative balance between the IRS chief counsel and Treasury OTP in drafting guidance has varied among administrations.