Media Mentions
2011
“Treasury Issues Regs Targeting Misinterpretation of All-Cash D Rules”
Tax Notes Today, November 21, 2011
Michael Wilder presented nearly two years ago at a BNA Tax Management luncheon an interpretation of all-cash D reorganization rules that some tax practitioners suggest is now at least partially contained in a set of temporary and proposed regulations issued by the Treasury Department to clarify the issue.
Michael J. Wilder, International Tax, Tax
“Practitioners Troubled by ‘Schizophrenic’ Memo Involving Worthless Partnership”
Tax Notes Today, October 26, 2011
Michael Wilder spoke at an ABA Section on Taxation meeting regarding distortions caused by an IRS memorandum on the tax consequences of an insolvent foreign corporation’s reclassification as a partnership, suggesting that if the IRS or Treasury Department consider similar situations in the future “they might consider the model that the consolidated return rules would have for this transaction to eliminate the distortions.”
Michael J. Wilder, International Tax, Tax
“Letter Ruling May Indicate Changes Elective Beyond Spinoffs”
Tax Notes Today, October 25, 2011
Michael Wilder was noted as questioning the IRS associate chief counsel (corporate) at an ABA Section of Taxation meeting regarding a new ruling on Section 355 spinoffs. The IRS counsel expressed tentative agreement with Mr. Wilder’s question on whether taxpayers could use the new ruling to avoid Section 304 when extracting profits from an acquiring corporation.
Michael J. Wilder, International Tax, Tax
“ConocoPhillips Joins Marathon in Surge of Tax-Free Spinoffs”
Bloomberg Government, August 31, 2011
Michael Wilder, who reviewed proposed corporate spinoffs while serving with the Internal Revenue Service, said that the favorable tax treatment of such transactions is balanced by the risk of not getting a favorable IRS ruling and an unqualified opinion from tax advisers – which could lead to a much higher tax rate. “You’re betting the whole company if you trip up on a spin,” he observed.
“LB&I Directive Limits Strict Liability Penalties Under Economic Substance Doctrine”
Tax Notes Today, July 18, 2011
Michael Wilder praised a new IRS directive that clarifies how and when examiners can apply the economic substance tax doctrine to assess taxes on transactions. “The IRS shouldn’t willy-nilly throw economic substance at everything. I applaud the IRS” for making the clarification,” he asserted. Mr. Wilder noted the benefits to business of the clarification: “The idea that you can face economic substance penalties if somehow a judge saw it differently from how you did is very scary and discouraged a lot of transactions, which I don’t think was the intent” of tax law.
2010
Michael Wilder was profiled in the New York Times on June 13 for having won the title of U.S. Chess Champion in 1988, the year before he entered law school. Mr. Wilder, a grandmaster, now focuses on corporate tax matters with McDermott, and said he has not played in a chess tournament game in more than 15 years. “I just didn’t have the energy or the motivation to keep my skills fresh [because] I never gave serious consideration to being a professional chess player,” he stated. He added that his desire to “play chess for a while and then do something else” was also motivated by the need to support his family. “I thought there are other things that I might find interesting that might be a more stable career,” Mr. Wilder said.
Michael J. Wilder, International Tax, Tax
2009
Michael Wilder was cited in the March 23 Washington Post for being named a partner in the Firm's Tax Department. Mr. Wilder is a former lawyer with the Office of Chief Counsel of the Internal Revenue Service.
