Every change of administration brings new political appointments to leadership roles in federal and state governments. Many of these positions require a vetting process that exposes nominees to intense public scrutiny in Congress or state legislatures. A nominee's history of tax compliance is often a top priority for the vetting teams. Tax issues are frequently a trap for the unwary. Nominees should review prior year tax returns to identify any items that should be corrected and to develop a narrative around their tax history that can withstand the increasingly partisan confirmation process. A nominee's confirmation could be contingent on selling certain assets to avoid running afoul of conflict-of-interest rules. If so, the nominee may be eligible to defer taxes on certain gains.

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