Prof. Kristin Hickman Quoted in the Wall Street Journal About Loper Bright Ruling and Implications on IRS

Professor Kristin Hickman, associate dean for research & intellectual life, was quoted in the Wall Street Journal about the new limits on federal agencies’ regulatory powers due to the Loper Bright ruling and how the immediate effects of tax disputes could go against the government and benefit large companies. But many tax regulations are uncontroversial, desired by businesses and tax advisers to provide clarity and certainty rather than leaving questions open to interpretation by accountants and auditors. Prof. Hickman said the Loper Bright ruling gives judges plenty of room to defer to agencies’ views, even if they don’t describe it as deference. “Most of the time, Treasury and the IRS do a pretty good job of hewing reasonably
closely to the text of the code. The code does give Treasury and the IRS quite a bit of discretionary power.”