Megan L. Brackney participated in the panel titled "Ethics: Challenges For The Tax Professional Advising Clients Looking To Push The Envelope" at the NYU-SPS 77th Institute on Federal Taxation

Tax practitioners are frequently asked by their clients to provide them with guidance and authority on difficult legal issues. This panel discussed the different techniques for providing clients with legal guidance when the law might not be clear.

The panel explored the pros and cons of seeking a private ruling, providing the client with legal memoranda or formal written opinions, as well as the legal import of informal advice and tax return disclosure to mitigate risk and exposure for the client and the tax professional. The panel also addressed the ethics of how your conclusions may be communicated to the client.