Search for:
Author

Richard M. Lipton

Browsing
Richard Lipton is a senior counsel in Baker McKenzie. He advises on tax planning for corporations, partnerships and limited liability companies, and has handled numerous engagements in structuring partnership and real estate transactions. Richard served on the Internal Revenue Service Advisory Council, and is an adjunct professor at the University of Chicago Law School, where he teaches partnership taxation. Richard is past Chair of the ABA section of Taxation.
In White Collar Crime

North America: Listed transactions and the APA – The potential fallout from Mann Construction

by , and 1 Min Read

The IRS did not follow notice-and-comment procedures when it issued Notice 2007-83. A theme underlying a number of court decisions since the Supreme Court’s decision in Mayo Foundation is that the Administrative Procedure Act does apply to the IRS – just like it applies to every other administrative agency. The IRS appears to be slowly coming to recognize this reality, but for many, many years, the agency acted as if the APA did not apply to its actions. The Sixth Circuit’s recent decision in Mann Construction, Inc. v. United States illustrates the importance of the IRS’ prior failures in this regard, in this case in the context of listed transactions.