We certainly found in our report in 2009, after interviewing 54 practitioners, that the comfort letters were definitely an important part of the process. They keep the tax system working. Until the legislation is passed, it at least allows taxpayers to go ahead and do the transactions they were planning, and they can be assured, provided the legislation is eventually passed, that the tax result is the desirable one.
On March 5th, 2013. See this statement in context.