IRS Not Holding Its Breath for Congress to Correct Tax Law

The IRS isn’t confident in Congress’s ability to pass technical corrections to the 2017 tax law.

And it is showing in the way they are drafting regulations.

“I think the prospects now for getting technical corrections are a little bit foggy,” said IRS Chief Counsel Michael Desmond May 10 during a conference in Washington. “We certainly, from a reg-writing perspective, don’t have an expectation that we are necessarily going to get technical corrections.”

• Desmond, who worked as tax legislative counsel at the Treasury Department from 2005 to 2008, said this is a departure from prior years. Democrats have been ...