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Daily Tax Report

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Bloomberg BNA’s flagship daily news service —

Daily Tax Report® with Daily Tax RealTime® and TaxCore® Learn why leading practitioners and policymakers rely on Bloomberg BNA to keep on the cutting edge of taxation and accounting information.

  • Daily Tax RealTime®
    E-mail summaries of breaking news, along with links to the relevant full-text documents, in real time.
  • Daily Tax Report®
    Objective and comprehensive reporting on crucial legislative, regulatory, and legal tax developments — every business day.
  • TaxCore®
    A comprehensive, easily searchable database full-text documents from Congress, the IRS, and dozens of other sources.

Daily Tax Report® with Daily Tax RealTime® and TaxCore®

Changes in tax law are both relentless and fast-paced. Keeping track of significant developments in Congress, regulatory agencies, and the courts—without missing something significant—can be very difficult. State and international tax developments can make the situation even more complex. Finding out about those developments early enough to influence outcomes, or to do effective tax planning, is even harder. For more than 50 years, Daily Tax Report® has helped leading practitioners and policymakers keep on the cutting edge of taxation and accounting information.

Daily Tax Report® subscriptions include:

1. Daily Tax Report®

Your comprehensive source for news on key federal, state, and international legislative, regulatory, and judicial tax-related developments, including pensions and accounting. The Report provides full text of key legislative, regulatory, and judicial documents. The status of tax-related bills pending in Congress is updated with Hill Watch, a chart published at key intervals during each session, in addition to daily listings of congressional debates, reports filed, committee actions and meetings, and hearings scheduled. You also receive periodic special supplements and an annual Outlook report, along with perspective and trend articles by outside experts, interviews with key policymakers, and analysis by Bloomberg BNA editors.

2. Daily Tax RealTime®

Get concise summaries of significant regulatory, legislative, and judicial developments, along with the full text of important IRS and other tax-related documents. Bloomberg BNA posts these materials on the Web and e-mails updates as often as several times a day, the day they occur or are available, to provide you interim updates between daily issues. (Only Daily Tax Report Web subscribers receive Daily Tax RealTime.)

3. TaxCore®

This comprehensive database of tax-related documents from Congress, the IRS, and dozens of other sources is reproduced verbatim on the Web. The TaxCore® database contains the full text of thousands of congressional tax bills, IRS regulations and guidance, court decisions, official reports, statements, transcripts, memoranda, rulings, opinions, and other materials issued by public and private sector agencies and organizations in Washington, D.C., and nationwide. The database is both indexed and fully searchable to make locating any tax document quick and easy.

You can rely on Bloomberg BNA’s Daily Tax Report to help you:

  • Monitor all of the important tax issues that could influence the way you do business. Receive in-depth, objective daily news from Washington, DC, the states, and around the world.
  • Stay proactive with a complete tax news source, organized for easy access. Specialized sections cover Federal Tax & Accounting; State Tax & Accounting; International Tax & Accounting; Analysis & Perspective; Viewpoint, and Tax Decisions & Rulings.
  • Improve tax planning with the most up-to-date information on legislation and IRS regulations.
  • Minimize your clients’ or organization’s tax liabilities by keeping up with regulatory changes and enforcement activities.
  • Prepare for tax audits and litigation with analyses of key tax-related court rulings and full-text source documents.
  • Gain additional insight and essential data from Analysis & Perspective articles, interviews, text supplements, and the annual Tax and Accounting Outlook—all part of your subscription.

Bloomberg BNA’s database of TaxCore® documents helps you:

  • Review the full text of hundreds of official tax-related materials issued by public- and private-sector sources, including:
  • Bills and amendments
  • Comment letters
  • Congressional reports
  • Court decisions and U.S. Tax Court Memorandum Opinions
  • Government Accountability Office reports
  • IRS Actions on Decisions, Exemption Rulings, General Counsel’s Memorandums, hearing transcripts, Private Letter Rulings, Technical Advice Memorandums, and Service Center Advice Memorandums
  • Statements and testimony
  • Treasury correspondence
  • Save time and effort. Many of these items would be difficult to obtain if you could even locate them.
  • Avoid miscommunication by consulting the actual language of essential documents to ensure the accuracy of your work, plan sound strategies, and advise clients effectively.

Major Topics Covered:

Capital gains
Charitable contributions
Corporate taxes
Domestic production
Employee benefits
Health insurance
International taxation
IRS
Pensions
R&D tax credits
Real estate taxes
State taxes
Tax accounting
Tax credits and exclusions
Tax reform
Transfer pricing

Formats & Updates:

Frequency: Published Every Business Day
Print Version: Report
Web Version: Report, TaxCore
E-mail: E-Mail Highlights

To view a sample issue of the Daily Tax Report, click on the link below. The Daily Tax Report is available online and in print.

 Daily Tax Report Sample Issue

Sample News
Joshua Bamfo
Joshua Bamfo - Senior Economic Consultant - Transfer Pricing, Ernst & Young, Atlanta.
Alison Bennett
Alison Bennett has been with BNA more than 17 years, 15 of them on the Daily Tax Report staff covering tax regulations and tax policy. She has a Bachelor of Arts in journalism from the College of Journalism at the University of Maryland, College Park, and a Master of Arts in legislative affairs from the Graduate School of Political Management at the George Washington University, Washington, D.C. Her areas of specialization are international taxes, tax treaties, tax shelters, corporate taxes, and financial products.
Nancy Bowen
Nancy Bowen joined Fulbright & Jaworski L.L.P.'s Houston office in 1990 and concentrates her practice on all phases of federal tax controversy. She has significant experience in assisting taxpayers in planning and preparing for audits, handling audits (including responding to IRS information document requests and defending formal and informal taxpayer interviews); preparing protests and position papers for use with the IRS Appeals Office; negotiating with the IRS Appeals Office; documenting settlements; and litigating tax controversies, when necessary. She has handled a wide variety of substantive tax matters, including both domestic and international income tax matters, employment tax matters, excise tax matters, and estate and gift tax matters. She has litigated before the U.S. Tax Court, U.S. district courts, the Court of Federal Claims, and appellate courts.
Jane Bowling
Jane Bowling has been a copy editor for the Daily Tax Report since 1998. She previously worked as a legal affairs reporter and editor for the Daily Record in Baltimore, Md., and as an estates and trusts attorney. She holds bachelor's degrees in journalism and mathematics from Morehead State University in Morehead, Ky., and a J.D. from the University of Kentucky College of Law in Lexington. She is licensed to practice law in Maryland.
Katherine Breaks
Katherine Breaks, Senior Manager, Federal Tax Legislative and Regulatory Services, Washington National Tax Practice.
James Bristol
Waller Lansden Dortch & Davis LLP, Nashville
Hannah Burke
KPMG LLP's Energy Sustainability Tax practice
Jay Camillo
Ernst & Young LLP, Atlanta
George Clarke
George Clarke --U.S. Marine, 1988 - 1992 (active) J.D., Georgetown University Law Center, magna cum laude, 2003; B.S., Edgewood College, magna cum laude, 1998; George Clarke practices in the white collar, internal investigations, and tax areas and focuses on the defense of civil and criminal tax matters (including voluntary disclosure). Other elements of his practice include civil tax litigation and the defense of non-tax federal criminal matters, including allegations of impropriety under the Foreign Corrupt Practices Act (FCPA) and other criminal laws of the United States. Mr. Clarke has substantial experience advising clients on the defense of foreign tax and non-tax criminal investigations and the effect those investigations have in the United States (particularly with respect to U.S. tax liability accrual provisions such as FIN 48). Clarke is currently with Miller & Chevalier.
John DerOhanesian
 John DerOhanesian is a senior manager in KPMG's International Corporate Services Group in San Diego, California.
James H. Ditkoff
 James H. Ditkoff; Senior Vice President, Finance and Tax, Danaher Corporation,Washington, DC. Also served as Vice President-Finance and Tax from January 1991 to December 2002 and has served as Senior Vice President-Finance and Tax since December 2002.
Michael C. Durney
 Michael C. Durney; Hastings College of Law, University of California (1968; Juris Doctor; Editorial Board, Hastings Law Journal); University of California at Berkeley. Bar Admissions: District of Columbia and California Bars; admitted to practice before the U.S. Tax Court, the U.S. Court of Federal Claims and the U.S. Supreme Court. Served as Deputy Assistant and Acting Assistant Attorney General for the Tax Division of the U.S. Department of Justice: Trial Attorney, U.S. Department of Justice—Tax Division. Member of U.S. Court of Federal Claims Advisory Council, 1993–; District of Columbia Bar; the State Bar of California: Federal (Chairman: Court and Tax Procedure Committee, 1977-1982; Section of Taxation, 1982-1984; Senior Advisory Committee, 1984–) and American (Member, Sections of: Taxation; Chairman, Subcommittee on Legislative and Administration Proposals, 1993–, Litigation) Bar Associations. Currently at Moore & Bruce LLP, Washington, D.C.
George A. Famalett
George Famalett currently serves as Tax Partner at PricewaterhouseCoopers in San Jose, CA. He specializes in state and local taxation for Fortune 500 companies.
Brett Ferguson
Brett Ferguson joined Bloomberg BBNA in 1999 as a reporter and is currently the assistant managing editor of the Daily Tax Report. Brett spent six years covering economic policy and the Treasury Department for BBNA’s Daily Report for Executives, followed by another six years as a congressional reporter covering tax policy for Daily Tax Report. He has a B.A. in economics and journalism from Northern Illinois University in DeKalb, IL, and is the recipient of a Newsletter Journalism Award for Best Exclusive Story from the National Press Club in Washington, D.C.
J.P. Finet
J.P. Finet, a graduate of the Moritz College of Law at the Ohio State University, served as news editor for Ohio Lawyers Weekly and as a legislative analyst for the Michigan Senate Fiscal Agency before joining BNA in 2006. As the Daily Tax Report’s senior legal editor, he covers tax rulings from the state and federal courts, with an emphasis on federal tax issues before the federal courts of appeal and the U.S. Supreme Court. He also has written for daily newspapers in Ohio, Indiana, and Arizona. He holds a Bachelor of Arts I from the Ohio State University School of Journalism.
Diane Freda
Diane Freda has worked for newspapers and newsletters over a 15-year reporting career in which she covered regulation and legislation affecting the Wall Street securities markets, and as a local government reporter. She has been with BNA since 2005, specializing in tax-exempt organizations, regulations affecting tax practitioners, and taxpayer issues such as private debt collection. She is a graduate of William and Mary, Williamsburg, Va.
Mitchell M. Gans
 Before joining the Hofstra faculty, Professor Gans had been an associate in the Tax and Trust and Estates Departments at the New York City law firm of Simpson, Thacher & Bartlett and law clerk to Associate Judge Jacob D. Fuchsberg, New York State Court of Appeals. He is an Academic Fellow at the American College of Trust and Estate Counsel. He is also an Adjunct Professor of Law at the NYU School of Law. Professor Gans is a leading scholar in the estate-and-gift tax area. On behalf of the NYU School of Law, he recently taught an eight-week course on valuation methodology by satellite television to IRS attorneys throughout the country. Gans continues to provide lectures for the IRS on transfer- and income-tax issues. He is a frequent lecturer for ALI-ABA, NYU, the American College of Trust and Estate Counsel, the ABA and other groups. Professor Gans has published articles in the Emory Law Journal, Notre Dame Law Review, Virginia Tax Review, Florida Tax Review and Tax Notes, among others.
Lauren Gardner
Lauren Gardner, who joined BNA in 2008, covers corporate tax, domestic tiered issues, IRS administration, tax credits, passthrough entities, real estate, and insurance for Daily Tax Report. She earned a B.A. in Foreign Language and Communication Media (French and Print Journalism) and a B.A. International Studies from the American University, Washington, D.C.
John Gimigliano
B.A., Miami University of Ohio; J.D., University of Cincinnati; LL.M.(Taxation), Georgetown. Professor Gimigliano is Principal-In-Charge of Americas Climate Solutions and Energy Sustainability Tax Practice. Prior to that, he was the Senior Tax Counsel for the Committee on Ways and Means, where he focuses on issues involving energy, cost recovery, accounting methods, tax credits, corporate reorganizations, the corporate alternative minimum tax, net operating losses and several other areas. Since joining the Committee in 2005, Professor Gimigliano has served as lead tax counsel on the Energy Policy Act of 2005 and has played a central role in hurricane relief legislation and in the enactment of the Tax Increase and Prevention Reconciliation Act (TIPRA). Prior to joining Ways and Means hew was a member of Ernst & Young’s tax practice for 11 years and from 2001 to 2005 he was National Director of Ernst & Young's Electric and Gas Energy tax practice. He has been a frequent speaker at industry tax conferences and has published a number of articles related to energy and utility taxation.
Christine Grimaldi
Christine Grimaldi joined Daily Tax Report as a congressional tax reporter in 2008. She graduated from the George Washington University with a bachelor’s degree in journalism. She previously reported for Congressional Quarterly, the Palm Beach Post through the Cox Newspapers Washington Bureau, and Greater Media Newspapers. She also worked for AARP Bulletin Today and for the Brian Ross Investigative Unit at ABC News in New York and Washington, D.C.
Elizabeth Grover
Elizabeth Grover is a copy editor for Daily Tax Report. She began her career at BNA in 1997 as a reporter covering employee benefits regulatory policy and legislation for BNA’s Pension & Benefits Reporter, and then spent six years covering health care policy issues on Capitol Hill for BNA’s Health Care Daily Report and Health Care Policy Report. She holds a master’s degree in public policy from George Mason University in Fairfax, Va. and a bachelor’s degree in history from the Catholic University of America in Washington, D.C.
Kelly Hales
Ernst & Young LLP, Houston
David Harrison
David Harrison is a graduate of Virginia Commonwealth University and came to BNA in 2004 as a Daily Tax Report copy editor. Before that, he was managing editor and then executive editor of Education Daily in Washington, D.C. He also has been a police reporter and education reporter in the Norfolk and Suffolk newsrooms of The Virginian-Pilot and Ledger Star.
Mark Hoffenberg
KPMG Washington National Tax office
Patricia Januszewski
Ernst & Young LLP's Business Tax Compliance division
Richard L. Kaplan
 Professor Richard Kaplan, the Peer and Sarah Pedersen Professor of Law, graduated from Indiana University with highest honors and earned his law degree from Yale University. He practiced law in Houston with Baker & Botts, specializing in U.S. tax consequences of international transactions, before joining the faculty in 1979. An internationally recognized expert on U.S. taxation and tax policy, he has lectured in these areas on three continents, testified before the U.S. Congress on several occasions, and written innovative course books on income taxation and international taxation. Professor Kaplan is a Fellow of the Employee Benefits Research Institute and a member of the National Academy of Social Insurance. He served on a 12-member panel on The Future of the Health Care Labor Force in a Graying Society, chaired by former U.S. Secretary of Labor Lynn Martin. In 2002, he was a delegate to the National Summit on Retirement Savings organized by the U.S. Department of Labor.
Madhvi Kapur
PricewaterhouseCoopers, San Francisco
Deborah Karet
Deborah Karet is a senior manager in KPMG's Washington National Tax's Excise Tax Practice and a former senior attorney in the Excise Tax Branch in the IRS Office of Associate Chief Counsel (Passthroughs and Special Industries).
Marianne R. Kayan
Marianne Kayan served as an associate attorney with two Maryland law firms where she concentrated on estate planning, estate administration and tax. Marianne excels and enjoys working with a diverse group of clients, including non-US citizens, couples with young children, families with complex dynamics, nontraditional families, retirees, entrepreneurs and established business owners. Marianne is affiliated with Real Property, Trust and Estate Law Section; Publications Committee 2009-2010; Fellow to the Section 2007-2009; Fiduciary Income Tax Group’s International Tax Planning Committee; Tax Section; Young Lawyers Section, American Bar Association, Estates, Trusts and Probate Section, District of Columbia Bar; Estate and Trust Law Section, Maryland Bar Association; Estate and Trust Law Section, Montgomery County Bar Association, Society of Financial Services Professionals. Ms. Kayan is currently with  Buchanan Ingersoll & Rooney PC, Washington, D.C.
Gail S. Keller
Gail S. Keller reported on state and local tax issues in Prince William County, Va., for more than a decade, ultimately publishing and managing her own newspaper, which grew to a weekly circulation of almost 40,000. She also has worked for Rep. Jack Brooks (D-Texas) and Rep. Silvio Conte (R-Mass.) covering federal legislation, and joined BNA in 1999 as a copy editor on the Daily Tax Report staff.
Michael Knight
Michael Knight; Fairfield University, 1973, degree in marketing; University of Bridgeport, MBA. Mr. Knight is a frequent speaker at small business planning forums and has appeared before the U.S. Congress and the Internal Revenue Service (IRS) on small business issues such as Sec. 83 and 2036 repeal, the unavailability of capital, and independent contractor hearings. He most recently (1997) chaired the New York State Society of CPA's Task Force on the Commission for Restructuring the IRS and testified in Washington before the national commission. He has appeared on CNBC, MSNBC, and WBIZ and is regularly interviewed by business publications including the Wall Street Journal, Inc. Magazine, Money magazine, Accounting Today, Business Week, USA Today, Journal of Taxation, and the Tax Adviser. Mr. Knight is a member of The American Institute of Certified Public Accountants, the Connecticut Society of Certified Public Accountants, the New York State Society of Certified Public Accountants, the Association of Certified Fraud Examiners, and the National Association of Certified Valuation Analysts. Currently serves as Principal, Michael J. Knight & Company, CPAs.
Mark Leeds
 Mark Leeds; LL.M., New York University School of Law, 1990; J.D., magna cum laude, Boston University School of Law, 1984; B.A., cum laude, Binghamton University State University of New York, 1981. Mark Leeds' professional practice focuses on the United States tax aspects of financial instruments and strategies. Mark is also the editor-in-chief of Derivatives: Financial Products Report, a Thomson/RIA monthly publication. Areas of concentration include structured finance, OTC and market-traded derivatives, financial products, mortgage-backed securities, asset-backed securities, structured products, REITs, RICs and REMICs. Currently with Greenberg Traurig LLC, New York.
Jay Levine
Ernst & Young LLP's Business Tax Compliance division
Elisabeth O. Madden
Elisabeth O. Madden is an attorney with Milbank, Tweed, Hadley & McCloy. LLP, in New York City.
Ellen E. McCleskey
Ellen E. McCleskey returned to BNA in 2007 as a copy editor for Daily Tax Report after seven years at Deloitte Washington National Tax, where she worked primarily with Tax Policy group. From 1990-1997, she was a reporter for various BNA publications, including Health Care Policy and Medicare Report, World Food Regulation Review, and Product Safety and Liability Report. She was a copy editor on Tax Management’s Financial Products Report from 1997-2000. She holds a B.A. from Belhaven College, Jackson, Miss.
Rebecca Pearl McCracken
Rebecca Pearl McCracken has been managing editor of Daily Tax Report since 1988. She joined BNA in 1977 and became chief tax reporter in 1980. She holds a B.S. in Journalism from Suffolk University, Boston, and an M.S. from the University of Maryland College of Journalism, College Park. She served for 10 years as BNA’s representative on the Executive Committee of Periodical Correspondents in Congress and was its chairwoman from 1985-1986.
Robert C. Morris
Robert C. Morris; Brigham Young University, J.D., cum laude, 2004; Georgetown University Law Center, LL.M., Taxation, with distinction, 2006; Brigham Young University (B.S., Accounting, 2002; Master of Accountancy, 2004). Mr. Morris practices in the following areas of law: Taxation; Federal Tax Controversies; Tax Audits; Tax Litigation. Admitted: 2004, Texas; 2006, U.S. District Court, Southern District of Texas, U.S. Tax Court and U.S. Court of Federal ClaimsMorris is a member of the Houston, American and Federal Bar Associations and Houston Young Lawyers Association. Currently practices with the law firm of Fulbright & Jaworski L.L.P.
Fred F. Murray
Fred F. Murray; B.A., Rice University; J.D. University of Texas at Austin. Fred Murray is an attorney (District of Columbia, Maryland, New York, and Texas (Board Certified in Tax Law, Texas Board of Legal Specialization), and various federal courts) and C.P.A (Maryland and Texas). He is Last Retiring Chair of the Administrative Practice Committee and current Chair of the Competent Authority and Tax Treaties Subcommittee of the US Activities of Foreigners and Tax Treaties Committee of the ABA Tax Section. His experience includes public law and accounting practice, government service as Deputy Assistant Attorney General in the Tax Division at the Department of Justice and as Special Counsel at the Internal Revenue Service, as well as service as Vice President for Tax Policy at the National Foreign Trade Council and General Counsel and Director of Tax Affairs at the Tax Executives Institute. Mr. Murray serves as an adjunct member of the faculty at Georgetown University Law Center where he teaches courses on international taxation and accounting for income taxes, Sarbanes Oxley Act of 2002, and other issues for corporate tax advisors. He also lectures at the New York University School of Law. Previously, Fred Murray was also an adjunct professor at the University of Texas School of Law, Rice University Jesse H. Jones Graduate School of Management, and the University of Houston Law Center. Murray is currently Managing Director of Tax Practice Policy and Quality Grant Thornton LLP, U.S. member of Grant Thornton International.
Lee Oster
 Lee Oster, Tax Effective Supply Chain Management leader at Ernst & Young LLP.
Jeffrey Owens
 Jeffrey Owens, a public finance expert, completed his doctoral work at Cambridge University in the United Kingdom in 1973. In addition to his economic degrees, he is trained as an accountant. He is currently an international civil servant at the Organization of Economic Co-operation and Development in Paris, where he has focused his activities on the tax implications of the globalization of national economies, the broader policy issues that arise in the areas of cross-border direct and portfolio investment and tax administration. He has made numerous contributions to professional journals, has published a number of books ("The Growth of the Euro-Dollar market", “Local Government Finance: an international perspective”: “A Comparison of Tax Systems in North Africa and Europe") and has been the author of many OECD publications on taxation. Dr. Owens' position as Director of the Centre for Tax Policy and Administration at the OECD, his frequent participation in international conferences and business seminars and his high level contacts with representatives from governments and the business community have provided him with a unique international perspective on economic and tax policy issues.
Isabella Owen Perelman
Isabella Owen Perelman has been a Daily Tax Report copy editor since 2008. She has done freelance work that includes editing books, reports, and conference transcripts for the Organization of American States, the Center for Strategic and International Studies, and other organizations in the Washington, D.C., area. She also has 17 years of experience as a managing editor of several scholarly journals at the Helen Dwight Reid Educational Foundation in Washington, D.C. She has a B.A. in the Great Books program from St. John’s College, Annapolis, Md.
Heather M. Rothman
Heather M. Rothman has been a reporter with BNA since 2001, joining the Daily Tax Report staff in 2007. She covers tax legislation. She holds a B.A. in Journalism and an M.A. in Political Management from the George Washington University. Her prior experience includes nearly two years at Congressional Quarterly. She is BNA’s representative on the Executive Committee of Periodical Correspondents in Congress.
Cheryl Saenz
Cheryl Saenz is a copy editor at Daily Tax Report. In 20 years at BNA, she has written about health care policy, Medicare, and communications at the congressional and federal levels and was copy editor at Health Care Daily Report. She has worked with editors throughout BNA to create prototypes for new products. She has an M.A. in writing from Johns Hopkins University.
Lewis J. Saret
Lewis J. Saret; George Washington University School of Law (1990; Juris Doctor); Masters of Business Administration and Masters of Accounting, Jesse H Jones Graduate School of Business, Rice University; Lamar University (BA). Saret practices in the areas of federal income taxation; estate and gift taxation; international tax; business succession planning; corporate transactions (financial and tax implications); charitable and exempt organizations. Mr. Saret is also a Certified Public Accountant. He serves as Chairman, Estate and Gift Tax Committee of the Greater Washington Society of CPAs; Chair, Planned Giving for B’nai B’rith International; Vice-Chair, Asset Protection Planning Committee, Real Property, Probate and Trust Section, American Bar Association; Member, Forums Committee of the National Press Club (recipient of Vivien Award from the National Press Club in recognition of outstanding contribution to the Forums Committee); Member, D.C. Estate Planning Council; Member; Monte Jade Science and Technology Association. Mr. Saret is also a Certified Public Accountant. Moore & Bruce LLP, Washington, D.C.
Matt Shaw
Matt Shaw is with KPMG LLP's Washington National Tax office.
Robert Smith
Robert Smith is with Ernst & Young (China) Advisory Ltd.
Capitol Tax Partners
Capitol Tax Partners is Washington’s largest independent consulting firm specializing in tax legislative and regulatory matters. The firm’s principals offer their clients an intimate knowledge of the tax-writing and rulemaking process. They have more than 100 years of experience in senior positions with the congressional tax-writing committees and the United States Treasury Department, and many years of experience representing private sector clients regarding tax matters before Congress, Treasury and the Internal Revenue Service.
Robert Willens
Robert Willens was a Managing Director in the Equity Research department at Lehman Brothers, Inc. in New York for 20 years. Mr. Willens specializes in tax and accounting issues. Prior to joining Lehman Brothers, Mr. Willens was a tax partner in the New York office of Peat, Marwick, Mitchell & Co, which eventually became KPMG. Mr. Willens is a prolific author and has written Taxation of Corporate Capital Transactions as well as over 600 articles for various professional journals including The Journal of Taxation, Tax Notes, The Journal of Accountancy, The Journal of Corporate Taxation and TAXES-The Tax Magazine. He is the author of the popular "Of Corporate Interest" column for Tax Notes. Mr. Willens has served on the Editorial Board of The Journal of Taxation of Investments and The Journal of Accountancy, respectively. He is also a highly regarded lecturer on tax and accounting topics and has served on the faculty of The University of Miami School of Law's Annual Institute on Mergers and Acquisitions, and The Practicing Law Institute. He is a frequent guest at seminars produced by The Texas State Bar Association, Georgetown University School of Law, New York University and Arizona State University. Mr. Willens has served, since 1993, as an Adjunct Professor (Finance Department) at Columbia University's Graduate School of Business where he teaches the course entitled "Investment Banking Tax Factors."
Ernst & Young LLP
This publication has been carefully prepared but it necessarily contains information in summary form and is therefore intended for general guidance only; it is not intended to be a substitute for detailed research or the exercise of professional judgment. The information presented in the publication should not be construed as legal, tax, accounting, or any other professional advice or service. Ernst & Young LLP can accept no responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this publication. You should consult with Ernst & Young LLP or other professional advisors familiar with your particular factual situation for advice concerning specific audit, tax or other matters before making any decision.
Robert T. Zung
 Robert T. Zung has been a legal editor on Daily Tax Report for more than 20 years, writing about a broad range of tax issues. He holds a Juris Doctorate from the Antioch School of Law and a Master of Laws in Taxation from the Georgetown University Law Center. While at Antioch, he served as a staff member and then an editor on the Antioch Law Journal.