Mike Schler and Andy Needham Speak at ABA’s Tax Meeting

On May 10 and 11, 2013, two Cravath partners spoke at the American Bar Association Section of Taxation’s Annual May meeting in Washington, D.C. Michael L. Schler spoke on a panel entitled “Obsolete Rulings?,” which addressed revenue rulings that the Internal Revenue Service might consider for revocation or obsolescence. On a panel entitled “Taxing Private Equity Funds as Corporate ‘Developers,’” Andrew W. Needham participated in a debate with a visiting Fellow from the Urban Institute regarding the proper tax treatment of gains realized by private equity funds from the sale of stock in their various portfolio companies under current law.