Scott J. Bakal, co-chair of Neal Gerber Eisenberg’s Taxation practice group, finds tax-sensitive solutions to complex financial situations, business transactions, and estate planning matters. Scott works primarily with entrepreneurial companies and high net worth individuals, often focusing on international families and companies with cross-border operations. Scott strives to find the most elegant but simple solutions for the problems faced by sophisticated high net worth individuals and privately held companies operating in the U.S. or around the world.
Scott has spoken at the American Bar Association - Tax Section, the Palm Beach Tax Institute, Chicago Bar Association and the Illinois Institute for Continuing Legal Education on income tax matters and has served as an adjunct professor at IIT/Chicago-Kent College of Law. He is a member of the American Bar Association-Section of Taxation, the International Fiscal Association, and the Society of Trusts and Estate Practitioners.
— Representation of an insurance brokerage firm in connection with the design and implementation of life insurance premium finance and life settlement programs.
Designing a tax efficient structure for a U.S. medical supply company in connection with its overseas expansion.
Representation of a Swedish company in connection with its U.S. real estate investments.
Representing the promoter of tax favored investments with respect to IRS audits challenging in excess of $1 billion of allegedly fraudulent income tax deductions.
Serving as an expert witness in a “midco” tax shelter case that is docketed for Tax Court (Loudermilk v. Commissioner).
Implementation of an international structure to minimize taxation of intellectual property royalties using a "Double Irish Dutch Sandwich."
Representing the U.S.-based subsidiary of a multi-national hospitality company in connection with entering into a plea agreement with a state tax authority due to claims that the U.S. subsidiary accrued and deducted approximately $100 million of royalty deductions for amounts that were never paid (and never could be paid). This representation included restructuring numerous aspects of the client’s business operations in order to obtain U.S. tax compliance.
Tax efficient restructuring of foreign trust holdings for a U.S. family, in order to comply with U.S. income tax requirements.