Bruce M. Reynolds

Bruce M. Reynolds


Stites & Harbison, PLLC

Recognized since 1993

Lexington, Kentucky

Practice Areas

Employee Benefits (ERISA) Law

Litigation and Controversy - Tax

Tax Law

Lawyer of the Year Badge - 2014 - Employee Benefits (ERISA) Law Lawyer of the Year Badge - 2011 - Tax Law
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Bruce Reynolds is a Member of the firm based in its Lexington office although he advises lawyers located in other offices as to complex tax matters. His practice focuses primarily on taxation and tax related matters, including tax controversies and disputes, business transactions and estate planning for business owners. He also has been involved in numerous disputes involving fiduciary relationships.

During his long career with Stites & Harbison, Bruce has assisted many of the firm's largest clients with a myriad of complex federal, state, and local tax matters. His most notable tax case involved the successful representation of a Chicago Board of Trade floor trader before the United States Tax Court in a commodity straddles case which resulted in a decision that invalidated two Treasury regulations. He also has assisted clients in obtaining favorable private letter rulings from the Internal Revenue Service in a variety of matters of first impression.

Before Stites & Harbison

After graduating from college and law school at the University of Kentucky, Bruce spent four years in Washington, D.C. working first for the Chief Counsel of the Internal Revenue Service and then as an attorney-advisor to the Hon. J. Gregory Bruce, Judge of the United States Tax Court. Also, while in Washington, he earned an LL.M. in Taxation from Georgetown University.

Location

  • 250 West Main Street, Suite 2300
    Lexington, KY 40507-1758

Languages

  • English

Education

  • Georgetown University, LL.M, graduated 1974
  • University of Kentucky, BA, graduated 1968

Bar Admissions

  • Kentucky, Kentucky Bar Association

Affiliations

  • American Bar Association - Member
  • Kentucky Bar Association - Member

Regulatory Agencies

  • Department of Justice (DOJ) - Assistant Attorney General for the Tax Division (TAX)

Lawyer of the Year Badge - 2014 - Employee Benefits (ERISA) Law Lawyer of the Year Badge - 2011 - Tax Law

Named "Lawyer of the Year" by Best Lawyers® for:

  • Employee Benefits (ERISA) Law, Lexington (2014)
  • Tax Law, Lexington (2011)

Recognized in The Best Lawyers in America® 2023 for work in:

  • Employee Benefits (ERISA) Law
  • Litigation and Controversy - Tax
  • Tax Law

Special Focus

  • COVID-19

Awards:

  • Martindale-Hubbell AV-rated
  • Kentucky Super Lawyers

IRS Collections

Obtained, in a case of first impression, a U.S. District Court injunction against IRS collection activities pursuant to IRC § 6331(i)

Termination of Health Alliance

Assisted a community hospital to terminate its participation in a health alliance by successfully arguing in court a breach of the health alliance’s fiduciary duties to the hospital

IRS Claims

Successfully represented a thoroughbred horse farm against IRS claims that losses incurred by the horse operation were non-deductible as hobby losses pursuant to IRC § 183

Fiduciary Duty

Represented a spouse nine years after her divorce in obtaining a greater share of the sales proceeds of a marital business by asserting a breach of a continuing post-marital fiduciary duty by her former husband

Tax transactions

Continues to represent various members of the equine and real estate industries in tax related transactions including tax-free exchanges, entity formation, and business dissolution

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