Michael J. Wilder

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Michael J. Wilder focuses his practice on corporate and international tax issues. He has extensive experience in structuring corporate mergers and dispositions, spin-offs, liquidations, cross-border transfers and financing instruments, as well as in the areas of consolidated returns, bankruptcy and insolvency tax matters. Michael represents clients in seeking private letter rulings from the Internal Revenue Service (IRS) and in handling audit and appeals matters. Michael is the leader of McDermott’s Corporate Tax Practice. Read Michael Wilder's full bio.

IRS Releases Memorandum Regarding Advance Payments of Section 367(d) Inclusions

By , , and on Oct 19, 2022
Posted In IRS Guidance

On September 23, 2022, the Internal Revenue Service (IRS) released a memorandum (AM 2022-003) concluding that taxpayers cannot make advance payments of section 367(d) inclusions except in the limited situation in which the US transferor receives boot in connection with the initial transfer of intangible property (IP) to a foreign corporation. The memorandum is relevant...

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Tax Reform Insight: US Tax Costs Significantly Reduced on Sale of CFC Stock

By , , and on Sep 13, 2018
Posted In IRS Guidance, Tax Reform, Uncategorized

Following the 2017 Tax Act, the US tax costs to a corporate US shareholder that sells stock in a controlled foreign corporation (CFC) are significantly reduced. Beginning in 2018, the amount of gain will be generally less than in prior years and most or all such gain will frequently not be subject to any US...

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Tax Reform: Insurance Provisions—Spotlight on Property & Casualty Insurers

By , and on Dec 7, 2017
Posted In Tax Reform, Uncategorized

A number of provisions included in the Senate’s tax reform bill, H.R. 1 (the Senate Bill) would impact the insurance sector. Many of the provisions would affect only the life insurance industry. Others affect property & casualty (P&C) insurance companies. Still others affect both life and P&C insurance companies. Many of these proposals align with proposals...

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Third Circuit Upholds One Deduction Tax Court Ruling

By on Jun 30, 2017
Posted In Court Procedure Matters, Uncategorized

In Duquesne Light Holdings, Inc. v. Commissioner, 3d Cir., No. 14-01743 (June 29, 2017), the US Court of Appeals for the Third Circuit upheld a Tax Court decision that disallowed a second deduction for the same economic loss claimed by a consolidated group with respect to stock of a member. The court concluded that the...

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New Issue of ‘Focus on Tax Strategies and Developments’

By , , , , and on May 12, 2016
Posted In IRS Audits, IRS Guidance, Uncategorized

We recently released the May 2016 issue of “Focus on Tax Strategies and Developments,” which can be viewed in its entirety here or through the links below. The issue includes four articles of interest to taxpayers: Proposed Debt-Equity Regulations Have Dramatic Implications for Corporate Tax Planning and Compliance By Thomas W. Giegerich and Michael J. Wilder On...

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