McDermott Will & Schulte, a global law firm

In today’s tax environment, there are no run-of-the-mill merger and acquisition transactions. From exploring a potential transaction, to obtaining IRS and regulatory approvals, to closing and post-closing transitions, we provide tailored guidance that helps minimize potential tax burdens and maximize the value of the deal.

In all merger and stock purchase transactions, buyers must be concerned about the tax history of the purchased entity and, in the case of an acquisition out of a consolidated group, the tax history of that consolidated group. Our lawyers regularly work with buyers in conducting tax due diligence with respect to a particular acquisition candidate. We help buyers analyze the target’s tax history and, where appropriate, secure additional representations, warranties and indemnities from the sellers.

In taxable asset sales (including many merger transactions), we help buyers formulate a purchase price allocation that results in the fastest write-off for tax purposes. We advise sellers on tools for maximizing the capital gain and minimizing the ordinary income that otherwise results from the transaction. In a taxable stock sale, we help buyers calculate the “tax cost” of purchasing stock, analyze the tax attributes of the purchased entity, and determine which form of entity represents the best vehicle for the acquisition.

We also work with buyers and sellers to ensure compliance with tax rules that apply to transactions that potentially qualify as tax-free under the US Internal Revenue Code, regularly seeking private letter rulings or issuing tax opinions to facilitate transactions. We draft tax representations and tax-sharing agreements, and structure tax-free spin-off and split-off transactions.

When multinational companies seek to form international joint ventures, we guide clients through the complex tax issues related to all stages of the international joint venture, including formation, operation and exit.

Mergers & acquisitions

We regularly advise on many of the largest public mergers and acquisitions along with intercompany restructurings involving Fortune 500 companies. We are frequently retained as special tax counsel to advise on transactions that are particularly tax sensitive or involve cutting-edge tax issues. We work closely with our corporate lawyers to help structure transactions in a manner that is most tax-efficient for all parties involved. Our team includes former IRS rulings officials whose backgrounds and insights have proven to be critical to procuring favorable, timely responses and private letter rulings from the IRS. We also represent clients before the US Department of Treasury with respect to legislative and regulatory matters, and have been instrumental in influencing pending legislative proposals and regulations projects.

Private equity

We advise private equity funds—and investors poised to deploy capital for investments and acquisition activities—on all aspects of US and cross-border taxation. We provide counsel at each stage of the private equity life cycle, from fund formation and management, to transaction and investments, optimizing fund and portfolio company operations, and exit planning. We also provide tailored US inbound services to international and offshore funds undertaking US fundraising, establishing US offices and making US investments. Our international team represents all types of investment funds, pooled investment vehicles, fund sponsors and fund investors, including LBO funds, hedge funds, private equity divisions of investment banks, venture capital funds, mezzanine funds, public permanent capital vehicles, public fund managers, fund-of-funds, general partners, fund managers, and US, international, tax-exempt and institutional investors.

Spin-offs & restructurings

Our corporate spin-off and restructurings tax practice is unsurpassed in depth of experience, sophistication and volume. We are engaged continuously in planning and implementing some of the largest and most complex corporate separation, reorganization and integration projects. Given the unusually wide range of tax issues that arise in such engagements, we work closely with experienced lawyers in many of the Firm’s core practices, and help coordinate the work of top accounting firms, economists, valuation consultants and other third-party advisors. We counsel public and private US- and non-US-based corporations on tax-free and taxable spin-offs and structures, manage related tax processes to ensure proper sequencing of transaction steps, prepare legal opinions and SEC filings, and work with the IRS to obtain tax rulings.

When financial distress threatens business operations, decisive action is required. Our business restructuring lawyers help stabilize struggling companies and maximize stakeholder returns. We deliver clear, actionable guidance to turn complex insolvency challenges into opportunities for recovery and strategic growth – or acquisition.

For companies facing insolvency, our business restructuring lawyers guide you through the legal process to restructure liabilities and engineer effective rescue packages. By stabilizing your financial foundation, we help you preserve enterprise value and position your business for long-term profitability.

Navigating cross-border insolvency requires seamless global counsel. We apply our deep knowledge of business restructuring law, including US Chapters 11 and 15, European Insolvency Regulation, and the UNCITRAL model law. Our international reach ensures we are well positioned to protect your assets and enforce your claims across multiple jurisdictions, minimizing disruption to your global operations.

Distressed markets also create unique opportunities for creditors and investors. Our business restructuring services help creditors achieve enhanced financial recoveries on their investments. For strategic buyers, we identify and execute the acquisition of troubled assets, driving immediate ROI and expanding your market share at favorable valuations.

Lo Studio è uno dei principali attori in Italia e nel mondo nella consulenza legale in ambito societario e in operazioni di M&A (acquisizioni mediante acquisto di azioni o di asset, operazioni di fusione, trasferimento di azienda e scissione), sia svolta per conto di società multinazionali coinvolte in operazioni cross-border, sia per piccole e medie imprese.

Attraverso il coinvolgimento dei nostri professionisti specializzati in diritto societario, fiscale e antitrust siamo in grado di fornire assistenza legale interdisciplinare anche quando le operazioni di M&A richiedono la definizione di complesse strutture societarie quali ad esempio la predisposizione di un finanziamento per l’acquisizione, la valutazione dei profili fiscali dell’operazione, nonché l’analisi delle implicazioni antitrust e regolamentari. Lo Studio assiste clienti italiani ed internazionali nelle operazioni che prevedono offerte pubbliche d’acquisto, sia ostili che amichevoli, compresa la gestione dei rapporti con le autorità di vigilanza e con tutti gli altri soggetti interessati. Assistiamo i nostri clienti nella gestione di tutte le fasi dell’operazione, a partire dalla lettera di intenti e dalle operazioni di due diligence legale e fiscale fino alla negoziazione e redazione degli accordi definitivi, all’assistenza al closing ed alle attività successive al closing.

Inoltre, il nostro team fornisce assistenza su tutti gli aspetti del diritto societario e commerciale, tra cui: la redazione e negoziazione di contratti commerciali e joint venture, la costituzione di società, la compliancesocietaria, il supporto nella progettazione e nella gestione di sistemi di governo societario (corporate governance), operazioni di finanziamento societario anche a livello infragruppo, sviluppo di modelli organizzativi delle società ai sensi della legge 231/2001.

Nel fornire i nostri servizi combiniamo le specifiche competenze legali con la conoscenza dei settori merceologici in cui operano i nostri clienti. La nostra esperienza ci permette di adattare le soluzioni legali alle necessità dei clienti, con particolare attenzione al contenimento dei costi, all’efficienza e al rispetto della tempistica, in modo tale da fornire un servizio di consulenza legale sofisticato e pragmatico.

A defined, dynamic M&A strategy is critical to stay competitive in the global marketplace. Our M&A practice combines its market knowledge and deal execution skills to help clients achieve their transactional strategies. Our M&A practice is consistently recognized by major industry publications. We are listed as Band 1 – M&A Middle Market in The Legal 500 USA, including being named “Team of the Year for M&A Mid-Market” in 2014, as well as being ranked “Highly Regarded” by Chambers USA. We also routinely rank in Bloomberg, Thomson Reuters and Mergermarket league tables for deal volume.

Our business-minded lawyers have substantial experience in all forms of M&A. We advise on negotiated and unsolicited acquisitions in a wide variety of contexts, including competitive auctions, exclusive negotiations, tax-driven transactions and cross-border deals. We frequently act for serial buyers and sellers of companies, reflecting our long-standing client relationships. And from decades representing a diverse client base—publicly listed companies, multinational corporations, privately held and family-owned businesses, private equity, family offices, investment banks and institutional investors—we can quickly identify and anticipate different deal perspectives to ensure the proper M&A strategy is deployed.

Many of our clients’ deals have a cross-border dimension. With offices located in Asia, Europe and the United States, we have the ability to represent clients’ transactional needs globally regardless of jurisdiction. Moreover, we possess deep industry knowledge in key markets, including energy, telecommunications, media and technology, chemicals, aerospace and defense, mining and metals, life sciences, food and beverage, and health care.

What distinguishes our M&A capabilities is our comprehensive transactional offering—regulatory and antitrust, environmental, tax, labor and employment, intellectual property, financing, and, when necessary, litigation—with those services provided by highly recognized and ranked lawyers. In addition, we have a team that focuses on IT outsourcing, transition management and merger integration, which are increasingly important components of our clients’ transactions.

We recognize that cost management is one of our clients’ priorities, and we have accordingly developed client-focused tools designed to streamline the transaction process and reduce overall cost. Regardless of transaction size, our lawyers bring the same practical approach, creativity and commitment to excellence to each matter in which we are engaged.

Family-Owned and Closely Held Businesses

Executing an M&A transaction offers many challenges and is only further complicated when one party, particularly the seller, is a private company (whether a family-owned enterprise or closely held business). The team excels at advising closely held and family-owned businesses with their M&A needs. Selling a company is a life-changing event, and generating a large lump sum requires advanced planning and careful consideration to avoid tax issues. Our M&A team, working in tandem with our leading tax and private client practices, can deliver a holistic solution unlike any law firm. Our goal is to ensure the deal is executed and the proceeds maximized for investors and future generations.

Today’s businesses are being assailed on every front, as state and local tax authorities attempt to increase revenues and reduce budget cuts. Third-party attacks are also on the rise, with the plaintiffs’ bar increasing its use of class actions and whistleblower cases to reap potential windfalls in the tax arena.

The firm has one of the largest and most diversified state and local tax (SALT) legal practices in the United States. Our lawyers possess in-depth knowledge of the constantly changing tax laws and have the experience and judgment necessary to provide advice and advocacy of the highest caliber. We identify and develop coordinated, cross-jurisdictional solutions for businesses wherever they are subject to existing or potential taxes and work closely with our many state and local contacts in various departments of revenue and with legislators to resolve tax issues.

In the area of tax controversy and litigation, our SALT group is one of the few firms that has argued—and won—state tax cases before the US Supreme Court. These cases include two Supreme Court taxpayer victories in the “unitary” area as well as the landmark Quill sales tax case. We efficiently develop the critical facts, construct the most effective arguments and help clients chart the best course for resolving any matter, whether at the audit or administrative review level or in trial and appellate courts.

Our tax team has repeatedly earned top rankings by leading industry and legal publications. We have been named “Law Firm of the Year” in Tax Law and Tax Litigation by US News-Best Lawyers, “North American Tax Firm of the Year” by International Tax Review and “Tax Practice Group of the Year” by Law360. Chambers USA and The Legal 500 also have singled out our practice and individual lawyers for recognition. We are consistently sought as speakers at conferences throughout the country, and are regularly quoted in publications such as The Wall Street Journal, Bloomberg BNA, Tax Notes/State Tax Today, CFO.com and CBS MoneyWatch.

Administrative & judicial proceedings

Our state and local tax lawyers have handled as many, if not more, state tax cases across the country than any other law firm over the past 30 years. We understand that clients have different appetites for litigating state tax issues. Whether at the compliance, audit or informal conference stages or in litigation, we offer advice and advocacy, always seeking alternative and creative solutions to resolve tax disputes. When necessary and appropriate, our state tax attorneys litigate aggressively, but with respect, to resolve client tax problems. Regardless of a taxpayer’s litigation profile, favorable results are more likely each step of the way when a taxing authority believes the taxpayer has hired an attorney with an extensive litigation portfolio, a history of success, and a strong presence in the state tax controversy community. Our SALT attorneys meet this criteria.

Audit defense

Clients look to the firm to develop audit strategies that address issues raised by state and local tax auditors, and to preemptively identify and resolve potential issues. We understand the goals and methods of the lawyers and professionals who represent the taxing authorities, from drafting document requests to interviewing key corporate employees. Our team frequently takes the lead in audit matters, assisting clients in developing responses to requests for information and to specific proposed audit adjustments, and in negotiations with state and local revenue authorities. When necessary, we can also play a “behind the scenes” role. Either way, with decades of experience, we can recommend “best audit practices” for establishing credibility with agents and officials.

Digital/cloud taxation

As state revenue departments attempt to impose taxes on cloud-based models and digital content using antiquated legal regimes, cloud-service providers and users alike face a host of tax-related questions and risk. Our lawyers have been involved in the national debate and work with providers and consumers of cloud-based services and digital content to understand, react to and comply with the sales and income tax issues that they face in the new economy. We help businesses identify and adjust for risk early in the process. We also work with vendors to understand tax incentives available to foster high-tech build out of facilities and employment. Our lawyers have worked with the Streamlined Sales Tax Governing Board to develop definitions and relevant sourcing rules and have worked extensively with the National Conference of State Legislatures concerning how to address taxation of the cloud.

False Claims Act

In addition to managing normal audit risk, our clients increasingly face the risk of tax-related claims brought by third parties. Such risks include whistleblower claims brought by qui tam plaintiffs alleging an under collection of tax and proposed class action claims alleging an over collection of tax or a violation of consumer fraud statutes. Our SALT Group is well versed in the defense of such claims. We have been at the forefront of defending against whistleblower claims filed under the Illinois False Claims Act over the past decade, including the leading appellate court decisions. We also regularly advise clients about how to avoid such claims. In addition, we routinely represent clients faced with the threat of tax-related class action litigation, and have achieved favorable results for clients in several such matters.

Incentives

State and local governments offer a range of incentives to encourage private investment, business expansion and job creation within their jurisdictions. When companies consider relocating, expanding existing facilities or adding jobs, we can help them offset costs and realize significant value by identifying and claiming the right mix of incentives packages. We understand that the key to obtaining incentives is timing, and that early involvement of experienced legal counsel can improve a company’s leverage when negotiating incentives with state and local officials before a planned investment is initiated. Our incentives practice includes lawyers and project-management professionals operating throughout the United States.

Planning

Our SALT practice provides planning services related to existing business relationships and practices (e.g., structural planning including addressing nexus and apportionment issues), as well as to specific pending transactions (transactional planning). Working with the client’s staff, our lawyers determine where proactive changes can be made to improve the client’s state and local tax situation. One set of tax costs that are often overlooked when planning transactions is the imposition of state and local taxes (such as sales and real estate transfer taxes) on the transaction. Our lawyers not only assist clients in avoiding these hidden pitfalls, but also help them achieve greater tax efficiency in their post-transaction operations.

State & federal legislation

Although traditional legal avenues such as planning, settlement and litigation are often the best courses of action to achieve the desired results for our clients, in some instances these are either unavailable or foreclosed under existing laws or regulations. In those instances, we offer legislative and lobbying initiatives to help achieve the desired results. Our services include monitoring specific issues and legislative initiatives, building consensus with other interested parties, preparing legislative proposals, drafting legislation and communicating proposals to the legislative decision makers.

Unclaimed property

Unclaimed property, including uncashed vendor payment checks, unused balances on gift cards, and un-refunded customer overpayments, is a target by many states as a source of revenue. States are adopting enforcement provisions that overreach what often constitutes unclaimed property, conflict with federal precedent, create data privacy issues, and expose businesses to unanticipated liabilities and significant penalties for noncompliance. We represent clients across a broad range of industries—including health care, manufacturing and retail—on unclaimed property issues, particularly those clients embroiled in multi-year, multi-state unclaimed property audits. Our counsel includes advising on the onerous document production process and offering efficient methods to limit both the scope of the responses and potential liability. In addition, we work with non-compliant companies—often following an acquisition—on state voluntary disclosure agreements to become current on state unclaimed property obligations.

The use of sophisticated financial instruments is an effective tool for companies to help manage risk and optimize operations. Successfully utilizing structured financial products requires a deft understanding of the market – both the products available and how the use of structured financial products can protect or enhance a client’s business.

McDermott Will & Schulte has deep experience in the design, trading and use of structured products, derivative financial products and synthetic derivatives. We provide clients a skilled team of lawyers with a stellar reputation and demonstrated success in structured finance. The group is led by lawyers known in the industry as “go to” for structured finance legal needs. In fact, they are recognized for their work by leading directories including Chambers USA and Legal 500.

The team provides a unique blend of transactional, tax, and regulatory knowledge to advise on the impact a structured financial product can have on business operations. Our skilled lawyers provide clients – including banks, private investment companies, municipalities, corporations, dealers and counterparties – the full range of legal services involving the transactional, tax, regulatory, documentation and compliance aspects of a successful structured financial product. In particular, we are skilled at advising clients on the tax treatment of securitizations and structured finance transactions.

We understand and have experience with all types of transactions – securitizations, physical commodities, commodity futures, and commodity derivatives, standardized exchange-traded instruments, evolving over-the-counter products, and derivative products covering credit, equity, fund-linked, interest rate, currency, and weather products. We have particularly deep experience in and are an acknowledged leader in municipal derivatives, having done derivative transactions to finance all types of infrastructure including airports, stadia, arenas, toll roads, hospitals, and more. Our work in this area includes all transactional, tax and regulatory aspects of derivatives.

What sets us apart from the competition is our regulatory depth advising clients on the compliance aspects of structured products. With broad experience in the structure, taxation and regulation of the financial markets, we design and advise clients on structured products and derivatives to assure compliance with corporate governance, legal regulatory, and tax requirements, particularly Dodd-Frank implementation and compliance. Our multi-disciplinary approach ensures we efficiently and effectively help our clients meet their financing and risk transfer needs.

Tax controversies are more than a bump in the road—they can stop an initiative or an entire enterprise in its tracks. As the Internal Revenue Service (IRS) increases its pursuit of big-ticket issues, national and multinational corporations require immediate, sophisticated responses from legal advisors with a deep understanding of the methods and goals of the IRS and the skills and experience to mount an effective defense. Our Tax Controversy practice is notable for the sophistication and skills of our team, the depth of our experience and our proven track record of delivering results for clients.

The firm represents clients on all aspects of federal, state and local, and international tax controversy matters, including IRS audits and appeals, competent authority matters, and trial and appellate litigation. We are also experienced with the numerous alternative dispute resolution options available to taxpayers during the audit and appeals process.

Chambers USA has perennially ranked our Tax Controversy practice in its highest tiers, with clients noting that our attorneys “provide a lot of good market knowledge.” The Legal 500 has also recognized the firm as a leading firm in the tax controversy area, noting that we provide “excellent services for reasonable fees.” US News-Best Lawyers recently named the firm “Tax Litigation Firm of the Year.”

Our tax controversy lawyers regularly represent some of the world’s largest corporations on complex tax issues, often with hundreds of millions of dollars under scrutiny. However, most tax controversy matters can be successfully resolved before going to court. When administrative settlement is not possible, we have extensive experience representing our clients in tax litigation at the trial and appellate levels, including before the US Supreme Court.

One of the first and most critical steps in any tax-planning process is the creation of effective financial and tax structures that can withstand the scrutiny of taxing authorities and regulatory agencies. Our experienced tax lawyers work with closely held businesses, publicly traded corporations and multinational enterprises to develop, document and implement cutting-edge solutions that help achieve business objectives and minimize tax liabilities.

Our closely held business group focuses on the unique tax, corporate and other issues facing privately held businesses and their owners, with a focus on family-owned businesses. Our corporate taxation team offers a broad range of tax structuring counsel to tax clients and their affiliates organized as C corporations for US federal income tax purposes. The Firm’s pass-through taxation lawyers advise on the use of partnerships, limited liability companies, S corporations, real estate investment trusts (REITs), and other pass-through entities in sophisticated tax planning.

We have highly experienced lawyers who practice in the area of structured investments and derivatives, offering a full range of legal counsel relating to financial products, funds (both registered and unregistered), derivatives, tax credit investments and insurance products. Finally, as one of the preeminent advisory firms in the area of international supply chain planning, we help establish the legal entity structures under which a multinational enterprise develops, produces, markets and sells its products around the world.

Together, we help clients with the formation, operation and unwind of all forms of domestic and international joint ventures, private equity funds in fund formation and acquisition transactions, operators and investors on structuring complex real estate transactions, and other pass-through entities on achieving tax-efficient operations.

Captives

Our lawyers are pioneers in the structuring of alternative risk transfer mechanisms, specializing in captive insurance companies of all types. We focus not only on the development and structuring of creative risk retention and transfer solutions, but also on the operation of efficient risk-management programs designed to enhance business performance by aligning economic incentives with loss minimization to lower the enterprise’s cost of risk. We regularly advise on high-deductible and self-insured retentions, trusts, retro programs, offshore and onshore captives, risk retention groups, risk purchasing groups and group captives. For those clients whose captive arrangements are being challenged by the IRS, we offer effective tax controversy services, drawing on the experience of lawyers who have successfully resolved disputes at Examination, Appeals and the United States Tax Court.

Closely held businesses

Our Closely Held Business group represents 28 of the top 100 (including seven of the top 10) largest privately held businesses in the United States. We focus on the unique tax, corporate and other issues facing closely held businesses and their owners, with an emphasis on family-owned businesses. We provide comprehensive guidance on tax matters arising in the context of daily operations, mergers, acquisitions and other transactions, liquidity events, succession planning transactions, inter/intra-family disagreements (including multi-generational issues), liquidity needs and access to capital. We regularly develop client-service teams to provide effective tax counsel in the context of related legal and business concerns; these teams often include lawyers from our employee benefits, intellectual property, corporate and securities groups.

Cooperatives

We are one of the only law firms in the United States that provides comprehensive legal services to cooperative organizations. We represent cooperatives engaged in a broad range of products and services, including the manufacturing, marketing and wholesale distribution of agricultural products, farm supplies, hardware, groceries, hospital supplies, transportation products, credit and other financial services, electricity, telephone services and housing. We represent clients in disputes with the IRS, before legislative and regulatory bodies, and—in conjunction with lawyers from throughout the Firm—in handling a broad range of corporate transactions, financings, intellectual property and other issues. In addition, we have worked with many entities in the Farm Credit System and have advised numerous agriculture-related trade associations.

Partnerships & joint ventures

National and multinational companies are increasingly forming international joint ventures with related and third parties as an efficient means to enter the global marketplace. When these joint ventures take the form of a partnership for US federal income tax purposes, it is essential that the parties have a comprehensive understanding of the US partnership and the international tax opportunities and consequences of the structure. It is equally important to take account of the tax issues that arise in a contractual alliance that is not intended to constitute a tax partnership. Our industry-leading partnership and international taxation lawyers guide clients through the complex tax issues related to all stages of international joint ventures, including formation, operation and exit.

Pass-throughs

We advise clients on the use of partnerships, limited liability companies, S corporations, real estate investment trusts (REITs), and other pass-through entities to assist in sophisticated tax planning, including avoiding double taxation, obtaining the full benefit of tax losses or tax incentives, and minimizing the tax impact of asset acquisitions or dispositions. We help individuals, investor groups and owners with the formation, operation and unwind of domestic and international joint ventures, counsel private equity funds in fund formation and acquisition transactions, and represent operators and investors in structuring complex real estate transactions and other pass-through entities in order to achieve tax-efficient operations.

US federal tax laws and policies change frequently and quickly. As a result, federal tax compliance requires effective planning, ongoing management, and considerable creativity and flexibility. Our highly skilled and experienced tax team advises clients on the full spectrum of federal tax laws, from addressing the tax ramifications of day-to-day operational and business decisions, to managing the impacts of the US Tax Cuts and Jobs Act and the taxation of e-commerce and cloud-based services.

Our lawyers advise on all federal tax-related aspects of acquisitions and dispositions, mergers and financial structures and products, as well as new business operations. We develop cutting-edge planning solutions for clients by analyzing and comparing alternatives to achieve business objectives while minimizing tax liabilities.

Our team includes former US Department of Justice Tax Division and IRS litigators and administrators, who now represent clients before the IRS. This “inside” experience maximizes our effectiveness and helps in obtaining private letter rulings and informal expressions of opinion. With access to the full resources of our leading national tax practice and experienced lawyers in each of the firm’s offices and practice groups, we advise on highly focused and complex tax matters involving capital markets, closely held businesses, cooperatives, financial products and derivatives, pass-throughs and transfer pricing. We also provide industry-focused counsel to clients operating in the aviation, e-commerce, energy, insurance and real estate sectors, among others.

Administrative & Judicial Proceedings

Resolving tax disputes as early as possible is desirable for all taxpayers. We work with clients at all levels, starting with the IRS Exam level. When issues cannot be resolved at this level, we regularly represent clients at the next administrative level, where IRS Appeals has the authority to consider the “hazards” of litigation in considering a settlement. When resolution remains out of reach, we draw on our highly experienced tax controversy and litigation team, which includes several former IRS and US Department of Justice federal tax litigators and Tax Court clerks. This team has been extremely successful, achieving several recent noteworthy victories for taxpayers in the trial courts, courts of appeal, and the US Supreme Court. We have an excellent reputation within the IRS for advocating for our clients’ interests forcefully, but professionally.

International Considerations

With international tax lawyers based in the United States, United Kingdom, France, Germany and Italy, we provide coordinated, multi-jurisdictional counsel to multinational clients on complex tax issues relating to cross-border investments and transactions, including acquisitions, dispositions and internal restructurings. We advise on a wide variety of issues, including anti-deferral rules, such as controlled foreign company regimes, foreign tax credit and dividend exemption systems, transfer pricing regimes, bilateral tax treaties, EU directives and law, thin capitalization rules, and rules governing cross-border asset transfers and reorganizations. Our international tax practice is also enhanced geographically through our International Tax Panel, which includes local tax specialists in nearly 40 countries.

Legislative Matters

Lawyers in our US and European offices have significant experience helping shape the future of tax legislation to the benefit of our clients. Our Washington, DC, team includes several former legislative assistants who have served with members of Congress and whose longstanding and continuing relationships with lawmakers provide the necessary access to Congress and the ability to potentially impact future legislation. We also regularly provide comments to the IRS in connection with new and proposed tax regulations. In London, we are actively involved through the membership of representative bodies (Law Society, International Chamber of Commerce and Chartered Institute of Taxation) in making presentations to the Inland Revenue and Treasury Ministers on legislative reforms. Experienced tax lawyers in our German offices likewise provide a broad range of legislative advocacy in the German market.

With one of the world’s premier transfer pricing law practices, our team provides clients with pragmatic, cost-efficient and comprehensive solutions to their transfer pricing needs. We are sought regularly by major multinational enterprises to handle transfer pricing planning and advance pricing agreement (APA) and controversy matters, including controversy cases that other professional advisors have not been able to resolve.

We routinely handle some of the largest transfer pricing cases around the world. Our team has established working relationships with – and has an understanding of – taxing authorities worldwide. We apply our deep knowledge of the pertinent legal, tax and economic issues to transfer pricing in the context of international tax planning, compliance, APAs and controversy, and the interface of tax/financial accounting.

Together with professional colleagues in more than 20 offices, we provide controversy support and counsel on government rulings, reporting, intangible property planning, permanent establishment theories and other issues.

Members of our transfer pricing team are leaders in their field who have authored principal US and OECD (Organization for Economic Co-operation and Development) transfer pricing treatises, and act as standard authorities in the field of transfer pricing. We are frequently asked by the OECD to comment on transfer pricing matters and are active in the OECD Business and Industry Advisory Committee, the International Chamber of Commerce Commission on Taxation and the United States Council for International Business. Members of the team also have held high-level positions (including serving as chair) on the transfer pricing committee for the American Bar Association (ABA). In addition, members of the team lead a Transfer Pricing Discussion Group of large US- and foreign-based multinational enterprises.