In the Headlines
October 10, 2024

Validity of Some Partnership Regs in Doubt After Loper Bright

Tax Notes
Tax attorney Lee Meyercord was quoted in a Tax Notes article about the potential impact of the U.S. Supreme Court's Loper Bright decision on partnership tax regulations. The article recapped a webinar hosted by the American Law Institute where Ms. Meyercord explored how the ruling, which overturned the Chevron doctrine, may affect the validity of certain partnership regulations, including the partnership anti-abuse rule and proposed basis-shifting guidance. Ms. Meyercord highlighted the significant shift in the landscape for challenging federal tax regulations.

"That's where Loper Bright really changed the analysis," she said. "Sure, you could challenge a regulation, but would you win? No, you never won. There was a thumb on the scale for the government, and now that thumb has been taken off the scale for interpretive regulations."

READ: Validity of Some Partnership Regs in Doubt After Loper Bright (Subscription required)

Holland & Knight announced the formation of its Chevron Deference Working Team in advance of the U.S. Supreme Court's June 28, 2024, Loper decision, which overturned the Chevron deference doctrine and will lead to a period of regulatory changes and potential legal challenges for some time.

Related News and Headlines