Jorge Castro Comments on COVID-19 Relief and Other 2021 Priorities for Treasury and IRS in Bloomberg Law
"COVID Work Keeps Marijuana, Crypto Guidance on IRS' Back Burner"
Jorge Castro, Member of Miller & Chevalier and a former Congressional tax aide and Counselor to the IRS Commissioner during the Obama administration, discussed the prospects for additional COVID-19 relief guidance by the Treasury Department and IRS. Guidance relating to the pandemic has been a top priority for the IRS, forcing it to delay other guidance projects in the near-term. The IRS was required to start issuing relief checks to Americans and answering questions following the 2020 CARES Act, a task that came on top of its efforts to finish key guidance relating to the 2017 Tax Cuts and Jobs Act. Congress passed additional tax legislation last December that includes a second round of checks, which has added to the agency's to-do list. The need to provide taxpayers with additional COVID-19 relief has created a major task for the agency. "I suspect that's going to continue to take priority for the IRS and Treasury over the next good chunk of the year," Castro said.