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Thomas J. Phillips

Attorney

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Thomas J. Phillips

Attorney

Tom Phillips focuses his practice on taxation and provides tax analysis, advice, and tax opinions to publicly traded and closely-held business entities. He has more than 40 years of experience representing clients in and structuring and implementing tax-free reorganizations and mergers, spinoffs, cross-border transactions, taxable asset and stock purchase transactions and partnership transactions. That experience also includes representing private placement investments in limited partnerships and limited liability companies involving hedge funds, distressed company investments, commercial real estate, value company investments, and low-income housing tax credit projects. Tom has extensive experience in tax controversy matters representing clients before the Internal Revenue Service, Wisconsin Department of Revenue, and federal and state courts.

Recent Presentations and Publications

  • “Back to Basics, Part 3: S Corporation Shareholder Basics,” ABA Section of Taxation, S Corporation Committee, September 2021
  • co-Author, “Comments Concerning Impact of Final Regulations under Section 951A on S Corporations and their Shareholders,” submitted by the ABA Section of Taxation to the Commissioner of the Internal Revenue Service, July 2020
  • “Federal Income Taxation of Transfers of Inventions,” Professional Institute of Tax Study, Inc., October 2019
  • “The Mechanics of the Section 199A Deduction on New Guidance Under the Proposed Regulations,” State Bar of Wisconsin Taxation Section: November 2018 Tax School
  • co-Author, “Comments Concerning the Treatment of Losses and Certain Other Issues with Respect to the Section 199A Deduction,” submitted by the ABA Section of Taxation to the Acting Commissioner of the Internal Revenue Service, July 2018
  • “Changes to S Corporation Partnership and LLC Taxation under the Tax Cuts and Jobs Act”, ABA Section of Taxation Webinar, January 2018
  • “Tax Cuts and Jobs Act: Section 199A Deduction for Qualified Business Income of Pass-Through Entities,” Professional Institute of Tax Study, Inc., April 2018
  • “Partnership and Operating Agreements Must Change: The Impact of the New IRS Partnership Audit Rules”, State Bar of Wisconsin Annual Meeting & Conference, June 2017
  • “The Section 336(e) Regulations and S Corporations”, Professional Institute of Tax Study, Inc., April 2017
  • “The Tax Man is Coming: Audits to Partnerships Under the New Rules”, State Bar of Wisconsin Taxation Section: December 2016 Tax School
  • “New Partnership Audit Procedures”, Professional Institute of Tax Study, Inc., January 2016
  • co-Author, “Comments on the Application of Section 165(g)(3) to S Corporations”, submitted by the ABA Section of Taxation, S Corporation Committee to the Commissioner of the Internal Revenue Service, October 2015
  • “IC-DISC and S Corporations”, Professional Institute of Tax Study, Inc., December 2014
  • “IC-DISC and S Corporations”, ABA Section of Taxation, S Corporation Committee, September 2014
  • “Planning for the New Net Investment Income Tax”, Professional Institute of Tax Study, Inc., November 2013
  • “Tax Aspects of the Affordable Care Act: Planning Now for the Net Investment Income Tax”, State Bar of Wisconsin Taxation Section, November 2013 Tax School
  • “Proposed Amendments to Circular 230 Proposed Regulations Section 1.1366-2”, Professional Institute of Tax Study, Inc., October 2012
  • “Recent Wisconsin Tax Developments”, Professional Institute of Tax Study, Inc., April 2011
  • “Terminations of S Elections”, ABA Section of Taxation, S Corporation Committee, January 2011
  • co-Author, “Proposals to Amend Subchapter S of the Internal Revenue Code”, ABA Section of Taxation, S Corporation Committee, January 2011
  • “Post-Closing Tax Covenants for S Corporation Acquisitions”, ABA Section of Taxation, S Corporation Committee, October 2009
  • “Acquisition Agreement Tweaks for S Corporations as Targets”, ABA Section of Taxation, S Corporation Committee, May 2009

  • New York University, LL.M. Taxation, 1974
  • University of Utah, J.D., 1973, Order of the Coif
  • University of Minnesota, B.A., 1970

  • Wisconsin
  • U.S. Court of Federal Claims 
  • U.S. District Court, Eastern and Western District of Wisconsin
  • U.S. Tax Court
  • U.S. Court of Appeals, 7th Circuit

  • American College of Tax Counsel, Fellow
  • Milwaukee Tax Club
  • Professional Institute of Tax Study, Inc.
  • State Bar of Wisconsin (Taxation Section, Board of Directors 2016-2019; District Representative, Board of Governors 2011-2015)
  • American Bar Association (Section of Taxation; S Corporations Committee, Past Chair 2018-2020; Corporate Tax Committee; Partnerships and LLC Committee)
  • Milwaukee Bar Association

  • Best Lawyers® Tax Law "Lawyer of the Year", Milwaukee (2016) 
  • The Best Lawyers in America©, Tax Law (2003-2022), Litigation and Controversy-Tax (2011-2022)
  • AV Preeminent® Peer Review Rated by Martindale-Hubbell®
  • Wisconsin Law Foundation, Fellow
  • American Bar Foundation, Fellow
  • State Bar of Wisconsin Pro Bono Honor Society