Chapman and Cutler LLP's Tax Department regularly submits comments on regulatory and statutory modification projects. We stay abreast of new tax developments and initiatives.

We were directly involved in the legislative effort that resulted in providing bond issuers with the right to appeal findings of taxability of bond issues and the creation of the Clean Renewable Energy Bond legislation.

We have submitted comments on many important regulatory projects, including Circular 230, solid waste disposal regulations, arbitrage regulations, private activity regulations, GIC brokerage fee regulations and others.

In addition, Chapman and Cutler attorneys regularly participate in the submission of comments by the American Bar Association, the Chicago Bar Association and the National Association of Bond Lawyers. We have helped formulate the American Bar Association comments on proposed partnership non-compensatory option regulations. Further, we have weighed in on a proposed framework for regulations to implement the FASIT rules, given the Chicago Bar Association comments on Section 761 regulations and contributed our opinions to proposed regulations under Section 1446 of the Internal Revenue Code. We assisted the National Association of Bond Lawyers in preparing comments on the treatment of derivative products under the arbitrage regulations.

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