Saturday, April 23, 2011
Stuart J. Bassin (Baker & Hostetler, Washington, D.C.) & Beatrice Larkin (Tax LL.M. 2011, Georgetown) have published The Limits of Mayo Foundation v. United States: Retroactive Regs, 131 Tax Notes 293 (Apr. 18, 2011):
Many practitioners have commented on the impact of the Supreme Court’s Mayo decision on the susceptibility of IRS regulations to validity challenges. This article focuses on Mayo’s effect on challenges to the retroactive application of IRS regulations — an area of frequent litigation. The authors show that while Mayo will eliminate several arguments previously advanced by taxpayers, it leaves retroactive regulations vulnerable to validity challenges in important ways.
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