MoFo Tax Talk: Volume 6, Issue 3

EDITOR'S NOTE

As our readers are no doubt well aware, increasing political gridlock at the close of Q3 over the debt ceiling, among other points of Congressional disagreement, ultimately culminated in partial closure of the government. Most relevant to our corner of the world, although some of our readers may not have even noticed it, was the suspension of many Internal Revenue Service ("IRS") operations due to the resulting "lapse in appropriations." Now, after more than two weeks of stalemate, the House and Senate finally approved legislation to fund federal agencies and temporarily suspend the federal debt limit through February 7, 2014, staving off a potential debt default and reopening the government. As thousands of federal employees get back to work, including more than 85,000 furloughed IRS employees, it's time we, too, get busy and bring you Tax Talk 6.3.