Quote:
Originally Posted by grizy
I am pretty convinced even most of the JD/LLMs don’t know what’s going on and/or don’t care.
Leading-edge, new reg tax work has always had a substantial,
sort of, "fake it 'til you make it" element to it. I had classmates who worked for the IRS. I would call them up, and they would tell me that no one had any idea how a particular new law/reg was going to be enforced or what form to use. So, you look at how similar situations were handled in the past, analogously apply that to the new reg/law, and if it doesn't work out, it's most likely just more billable hours.
When I first got started, one of the big accounting firms hired me to defend one of their clients in district court, and the whole thing was a screw up by the accountants, but the client paid for everything and was happy as could be when I got a better settlement than they expected. The JD/LLM's at the accounting firm, who couldn't try their way out of a paper bag, were happy to run the clock.