Scott J. Bakal - Neal, Gerber & Eisenberg LLP

Scott J. Bakal

Listed in Best Lawyers since 2010

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's experience includes the following:

  • Representation of real estate funds owned in part by sovereign wealth funds. 
  • Representation of numerous offshore investors in their real estate investments and active U.S. business activities, in order to create structures that were both income tax and estate tax efficient. 
  • Representation of a hedge fund management company in connection with a capital investment by a leading private equity firm. 
  • Representation of an insurance brokerage firm in connection with the design and implementation of life insurance premium finance and life settlement programs. 
  • Representation of a real estate investment trust operating as an Angolan home mortgage lender.
  • Representation of numerous clients who chose to participate in the Offshore Voluntary Disclosure Initiative, including finding exceptions to the penalty regime, where appropriate, for multiple clients who were told by other tax advisors that no option for avoiding penalties existed.
  • Restructuring a controlling shareholder's position in a publicly held company in order for the shareholder's family to take advantage of available estate tax deferral provisions for certain concentrated holdings.
  • Representation of numerous taxpayers in like-kind exchange transactions.
  • Serving as an expert witness in a case before the U.S. Tax Court.

For a complete listing of Scott's representative matters, click here.

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.

Additional Information

Experience — 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.
    Yale UniversityBS 1982Harvard Law SchoolJ.D. 1985

    Client Comments

    "I have worked with Scott Bakal on various types of transactions over the past ten years. Scott's wide range of knowledge never ceases to amaze me. His understanding of tax and securities law enables his creativity and he has structured some amazing deals for us. Finally, we see Scott as a true partner in our business as he views every deal from not only a legal point of view but from a business point of view as well. I would recommend Scott without hesitation."

    -Joel Eidelstein
    Capital Advisors, LLC

    Office Location

    Two North LaSalle Street, Suite 1700
    Chicago, IL 60602-3801
    United States

    Practice Areas

    Trusts and Estates