|
Our Tax Group regularly represents a broad range of clients on legislative and regulatory matters, providing analyses of proposed legislation and regulations of interest to clients, development of appropriate strategies, preparation of written submissions, and consultation with senior Treasury and IRS officials, Members of Congress, and staffs of the Congressional tax-writing committees. Our practice group includes former senior Treasury officials, and the Chief Counsel and Staff Director of the Finance Committee, the key Senate congressional tax-writing committee.
Overview: Covington has played a significant role over many decades in most, if not all, of the major tax legislation enacted. We have represented trade association and corporate clients before Congress, the Treasury Department and the IRS, on such matters as the repeal of the estate and gift tax. One hallmark of our practice is our ability to alert our tax clients to emerging legislative and regulatory issues even before congressional or administrative proposals are advanced. This allows us to assist our clients in developing appropriate strategies for ensuring that their cases are effectively presented to key government decision-makers, and that their concerns are addressed before legislation is introduced. The experience of our lawyers in positions with the tax-writing committees, Treasury and IRS enables us to understand the views that senior government officials and staff will bring to an issue and the internal procedures and policies that often influence an issue’s ultimate resolution.
Representative Matters
- Representation of the U.S. Securities Markets Coalition on legislative and regulatory issues affecting the tax treatment of options and options-based strategies.
- Representation of Investment Company Institute on legislative and regulatory issues affecting the treatment of mutual funds and their investors.
- Representation of a major oil company in successful opposition to windfall profit tax and foreign tax credit cutback proposals.
- Representation of the Land Trust Alliance with respect to enactment of land conservation tax incentives and appraisal reform provisions.
- Representation of a major life insurance company with respect to tax legislation affecting long-term care insurance, corporate-owned life insurance, foreign leasing rules and estate tax reform.
Accolades
- Covington’s lawyers who handle Public Policy and Government Affairs tax matters have been named "Best Lawyers” by Best Lawyers in America (2007) and the Washingtonian Magazine.
|
|
|
|
|
|
|