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Sunday, January 19, 2014

The IRS Scandal, Day 255

Tax ReformFrom the Q&A session of Panel #3: Tax Reform in a Time of Crisis: Institutional Perspectives (begins at 1:01:30 on the video) at Friday's  Pepperdine/Tax Analysts Symposium on Tax Reform in a Time of Crisis:

Question:  On a scale of 1-10, 1 being no damage and 10 being permanent long range damage, how much have the IRS and tax administration been damaged by the current IRS scandal?  (And I would append to that the question: was it a scandal?)

Donald Korb (Partner, Sullivan & Cromwell; former IRS Chief Counsel):  I think it is incredibly damaging.  Frankly, I see it as one of the seeds of the next tax shelter era. ... And in terms of scandal, I don't think we really know. We have not been permitted to understand exactly what happened. So, who knows.

George Yin (Edwin S. Cohen Distinguished Professor of Law and Taxation, Virginia; former Chief of Staff, Joint Committee on Taxation):  I think there has been tremendous damage.  Almost without regard to what actually happened.  And I actually despair of finding out what actually happened. ...

Donald Tobin (Frank E. and Virginia H. Bazler Designated Professor in Business Law, Ohio State):  I think it is awful. I agree with Don and George.  7 or 8.  I think this is ultimately going to have huge implications. ...

Ellen Aprill (John E. Anderson Chair in Tax Law, Loyola-L.A.):  I agree with all of that.  I have myself avoided the word "scandal" because I just don't know.  And some of the people I know personally.  I don't think that was their political motivation.  So I've used "controversy" and "brouhaha" and everything but tried not to go all the way to scandal. ...

Korb: ... This is very, very damaging.  Maybe we are at a 9.5

http://taxprof.typepad.com/taxprof_blog/2014/01/the-irs-scandal-15.html

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Comments

If the tax collectors are not honest, why should the tax payers be honest? The trust in the tax system is now broken and the tax collectors are politicized thugs running a protection racket. The mafia is envious.

Posted by: Blick | Jan 19, 2014 4:30:36 PM