TaxProf Blog

Editor: Paul L. Caron, Dean
Pepperdine University School of Law

Saturday, December 23, 2017

The New Tax Law Is 'Manna From Heaven' For Tax Lawyers, Especially Young Tax Lawyers

Law 360, Tax Bill Like ‘Manna From Heaven’ For Work-Hungry Firms
National Law Journal, Brew a Pot of Coffee, This Big Law Tax Attorney Is Burning the Midnight Oil:

[T]ax attorneys have already been hard at work ever since the bill started down the fast track in Congress, according to corporate tax lawyer David Miller, a partner at Proskauer Rose in New York. ... We asked Miller about how the tax bill has already impacted his work life, and the legal business that tax lawyers expect to see once Congress passes the new law. ...

On a scale of one to five, with five being the busiest, what’s your prediction for your practice next year?
For me and tax lawyers generally, definitely a five. The tax bill represents the most significant change in the federal tax laws in the last 30 years, and businesses will seek advice on how to restructure to take advantage of the new regime, and help implement the changes. ...

Once the final version of the bill passes Congress, what legal work do you see in the future for tax attorneys?
There will be a great deal of work over several years once the president signs the final version. Many of our clients will change their structure or operations in response to the legislation, and the planning for those changes and their implementation will take a great deal of time. It’s really the best time to be a young tax lawyer.

Wow! Why do you say it’s the best time for a young tax attorney?
First, the new law will create tremendous demand for a young lawyer’s services, and it’s always nice to be appreciated. Second, although I’ve practiced for more than 25 years, I know no more about the new tax law than a first-year associate who has been following it closely. In an instant, they can catch up to my career’s worth of knowledge.

Tax, Tax Policy in the Trump Administration | Permalink


Re: A level playing field. There’s a Grand Canyon is difference between knowledge and wisdom.

Posted by: Dale Spradling | Dec 24, 2017 3:57:12 PM

Can't imagine a lawyer who has practiced for more than 25 years believing that a first-year associate could "in an instant... catch up to... career's worth of knowledge."

Posted by: Nathan | Dec 26, 2017 7:26:10 AM

Yeah, I'm sure Proskauer Rose is 1) hiring more first-year tax associates nationwide this year than I have fingers and 2) the 2Ls of all law schools have an equal shot at a SA position there.


Posted by: Unemployed Northeastern | Dec 26, 2017 8:46:53 PM