Published on November 13, 2015 | by LawNews
Prof. Linda Galler Quoted in Bloomberg BNA Story on Federal Appeals Court’s Attorney-Client Privilege Ruling in Schaeffler v. United States
Documents Shared With Bank Consortium Were Privileged
By Erin McManus
Nov. 10, 2015
Linda Galler, a professor at the Maurice A. Deane School of Law at Hofstra University, told Bloomberg BNA in an Nov. 10 e-mail, “The appellate court’s opinion implicitly criticizes the lower court for failing to understand the relationship between the complexity of a transaction (and related tax advice) and the probability of IRS challenge.
“The size of a transaction, combined with complex and ambiguous tax rules, heightens the probability that the IRS will scrutinize a transaction and thus increases the likelihood of litigation—necessitating pre-transaction legal analysis and advice. This fact, of course, is well understood by tax practitioners,” Galler said.
The story was included in Bloomberg BNA’s Daily Report for Executives and the Daily Tax Report.