William D. Elliott
Of Counsel
214-922-9393
214-853-4177
[javascript protected email address]
VCard

Professional Background

Experience:

Biography:

William D. Elliott represents businesses and their owners. Using innovative billing arrangements, Mr. Elliott believes that the business owner should be able to retain a lawyer on a fee basis that makes legal fees affordable and predictable, and creates an incentive for the lawyer to be efficient and attain the client goals on time and on budget. Finally, Mr. Elliott wants a fee arrangement that invites the client to seek legal counseling and consultation.

As an experienced tax lawyer, Mr. Elliott understands that taxes form a material part of most business decisions. Yet, the real world reality is that the business owner wants and needs legal expertise spanning a wider array of needs than just taxation. Therefore, Mr. Elliott’s twin board specializations of Taxation and Estate Planning & Probate equip Mr. Elliott to handle the business owner’s individual, family and business legal needs.

Tax Practice:

Mr. Elliott’s tax experience is extensive. Representing taxpayers with disagreements with the IRS is a material part of his tax work. Also, his experience includes the full array of business transactions, such as the purchase and sale of business, reorganizations, management succession, buy-sell agreements, and other important milestones in the life of a business of which tax issues form a material part.

Estate Planning:

Mr. Elliott’s estate planning experience is also extensive, including complex, large net worth clients, multi-generational estate planning, and private and public non-profit organizations. Of importance, Mr. Elliott believes a client is best served by his estate planning work coordinated with the business legal representation.

Board Specialization:

Tax Law, Texas Board of Legal Specialization
Estate Planning & Probate, Texas Board of Legal Specialization

Practice Areas:

Representing Businesses and Owners
Taxation
Estate Planning
Business Transactions
IRS Controversies

Education:

New York University School of Law, May 1974 – LLM (in Taxation)
Southern Methodist University School of Law, May 1973 – JD
Southeastern State College, Durant, OK, May 1970 – B.S. in Economics

Honors, Awards, and Distinctions:

Fellow, American College of Tax Counsel
Former Chair of the Board, State Bar of Texas, 2005
Former Chair, Section of Taxation, State Bar of Texas, 1995
Stanley Scott Award, Dallas Chapter of CPAs, 2010
Dan Price Award, Texas Bar Foundation, 2008
Former President, SMU Law School Alumni Association
Supreme Court appearance, United States v. Rodgers, 461 U.S. 677 (1983)
Life Fellow, Texas Bar Foundation
College of State Bar (1989-present)
Outstanding Texas Tax Lawyer 2017, Section of Taxation, State Bar of Texas.

Public Service:

Former Board Member, North Texas Tollroad Authority (appointed by Governor Perry (2012-2018)
Former Chair, Farmer’s Market Tax Increment Finance District, City of Dallas.
Former Board Member, Trinity River Authority (1989-1995)(appointed by Governor Clements)
Former Member, State of Texas Depository Board (1978-1982)(appointed by Governor Clements)
Leadership Dallas (1982)

Representative Transactions

Business:
Advise on acquisition of private aircraft with emphasis on minimizing state and local taxation on acquisition and operation of aircraft

Sports Business
Advise professional athlete on strategies in structuring business entity to minimize state and location taxation

Technology:
Advise internet services company from start-up through sale, including particular attention to entity formation, sweat equity to key employees, and sale of company to Silicon Valley purchaser, including negotiation and documenting acquisition transaction and various restrictive covenants and employment agreements

Executive Compensation:
Represent CEO candidate in hiring negotiations for large company, including negotiation and drafting of employment agreement, equity based compensation, and various restrictive covenants

Technology:
Advise telecommunications company on national state and local tax implications of business formation and selection of location venue, including in-depth analysis and strategies on taxation of telecommunications and internet-based services by various state and municipal governments

Tax Controversy:
Represent investors in large, hotly contested tax motivated investment (commonly know as a tax shelter) before the IRS

Food Services:
Represent restaurant company as consulting general counsel with respect to various corporate and business issues, including expansion of restaurant locations, planning to minimize state franchise tax; organizing ownership of intellectual property incident to operation of business; advise on buy-out of minority partners

Tax Controversy:
Represent taxpayer in seeking claim for refund and in subsequent litigation to obtain refund of penalties imposed by IRS in tax motivated investment

Estate Planning:
Represent large, multi-generational agricultural based business family in an in-depth estate plan, including long-term dynasty trusts, family partnerships, private foundation and valuation issues

Criminal Tax:
Served as tax counsel in advising taxpayers involved in allegations of failure to file returns and report income

Tax Controversy:
Represent financial institution in challenges by IRS for failure of financial institution to comply with IRS levy

Executive Compensation:
Advise top executives of financial institutions on issues involving tax and creditors’ rights issues involved in various funding and unfunded deferred compensation arrangements

Corporate Merger and Sale:
Advised controlling group of community bank on strategies to prepare for sale of bank and formation of ESOP

Estate Planning:
Advised multi-generation ranching family on estate planning issues arising from extensive holdings of ranch land through western U.S.

Corporate Asset Purchase:
Represented manufacturing and technical services company on purchase of key technology and manufacturing processes for aviation industry, including negotiation and documenting of purchase and sale transaction, restrictive covenants

Corporate:
Acted as consulting general counsel in advising technology company on forming and operating a large scale direct sales organization

Corporate:
Represented estate of owner and operator of motels, with particular attention given to preparation and planning for estate tax return, negotiation of various creditors’ claims, including secured lenders

Probate:
Represented estate of CEO of financial institution dying intestate

International Tax:
Advised US resident in international business on international tax issues arising from retirement from employment, including issues of foreign withholding, drafting deferred compensation and severance arrangements

Corporation Merger and Sale:
Represented and advised owner of wholesale building products on sale of company, including issues involving (1) uncooperative spouse of owner, (2) utilizing Chapter 11 proceeding to gain approval of sale, and (3) secured lenders

Tax Controversy:
Represented and advised publicly held US based technology company on issues arising from aggravated IRS audit examination, including IRS summons

Tax Controversy:
Represented widow in IRS litigation involving widow’s separate property rights

Publications

Books

  • Federal Tax Collections, Liens and Levies, Warren Gorham & Lamont, New York, New York (2d. ed. 2018)
  • Texas Taxes Annotated, West Pub. Co. (2018) (co-authored with Scott Morris)

 

Recent Published Articles

2019

 

2018

 

2017

 

2016

 

2015

 

2014

 

2013

 

2012

 

2011

 

2010

 

2009

 

2008

  • Chaired the 2008 Dallas Chapter of CPAs, Annual Free CPE Day, May 2008.

 

2007

  • Chaired and moderated webcast on “Texas Margin Tax” State Bar of Texas, August 2007.
  • Chaired panel discussion on “Facade and Easements Donations to Charity” to the American Bar Association, Section of Taxation, Real Estate Tax Committee, Ft. Lauderdale, FL, January 2007.

 

2006

  • Co-authored and presented paper on “Estate Planning for Real Estate Owners” to the New York University School of Law Federal Tax Institute, San Diego, California November 2006.
  • Chaired panel discussion, “Estate Planning for Real Estate Owners” to the American Bar Association, Section of Taxation, Real Estate Tax Committee, Washington, D.C., May 2006.
  • Participated in panel discussion on “Collection Due Process Hearings and Offers in Compromise,” at the American Bar Association, Section of Taxation, Bankruptcy and Workout Committee, San Diego, California, January 2006.

 

2005

  • Participated in panel discussion on “IRS Expense Guidelines and Offers in Compromise,” at the American Bar Association, Section of Taxation, Bankruptcy and Workout Committee, Washington, D.C., May 2005.

 

2004

  • Chaired panel discussion, “Conservation Easements in Estate Planning,” to the American Bar Association, Section of Taxation, Real Estate Tax Committee, Boston, Massachusetts, October 2004.
  • Participated in closed circuit televised panel program, “The Tax Controversy Toolkit”, Accounting Continuing Education Network (ACPEN), August 2004.Tax Collection Issues Involving Partnerships, Journal of Asset Protection (July/August 1998)

 

1996

  • “Criminal Issues Arising in Federal Tax Collection,” 73 Tax Notes 1345 (1996)

Presentations

2019

 

2018

  • "New Tax Collection Weapon - Passport Revocation," August 10, 2018, 36th Annual Advanced Tax Law Course, TexasBarCLE, Dallas, Texas.
  • Filmed Luncheon Interview, Larry Gibbs, Texas Tax Legends Interview Series, Texas Federal Tax Institute, June 21, 2018.
  • Filmed Luncheon Interview, Ron Pearlman , Texas Tax Legends Interview Series, Texas Federal Tax Institute, June 21, 2018.
  • Filmed Interview, Ron Pearlman , Texas Tax Legends Interview Series, June 21, 2018.
  • "Backdating, Rescission and Reformation," May 18, 2018, TexasBarCLE 16th Annual Choice, Governance & Acquisition of Entities Conference (presented with David C. Gair, Dallas).
  • "Tax Cuts & Jobs Act of 2017" May 23, 2018, Grayson County Bar Association, Sherman, Texas.

 

2017

  • "Structuring Law Firm Organizations and Related Ethics Issues, May 18, 2017, TexasBarCLE 15th Annual Choice, Governance & Acquisition of Entities Conference (with Professor Elizabeth Miller, Waco).

 

2016

  • "Transferee & Fiduciary Liability Arising from Estate & Gift Taxes, June 6, 2016, Dallas Bar Association Section of Taxation.

 

2015

  • "Key Changes in Our Federal Tax System Over the Last Fifty Years, and the Role and Impact of Practitioner Professionalism," October 21, 2015, 2015 Southern Federal Tax Institute (with Lawrence B. Gibbs).
  • Interview Donald O. Chapoton, Real Estate-Partnership Committee luncheon, January 30, 2015, ABA Section of Taxation Mid-Winter Meeting, Houston, Texas.
  • Interview, Eric Solomon, Real Estate-Partnership Committee luncheon, Sept 18, 2015, ABA Section of Taxation Fall Meeting , Chicago, Illinois.
  • Interview, Larry B. Gibbs, Dallas Bar Association Tax Section luncheon, September 14, 2015.
  • Filmed Interview, Eric Solomon, Texas Tax Legends Interview Series, Texas Federal Tax Institute, San Antonio, June 11, 2015.
  • Filmed Interview, O. Donald Chapoton, Texas Tax Legends Interview Series, May 30, 2015.
  • Filmed Interview, Robert E. Davis, Texas Tax Legends Interview Series, Dallas Bar Association Section of Taxation luncheon, April 6, 2015.

 

2014

  • Filmed Interview, Kenneth W. Gideon, Texas Tax Legends Interview Series, Texas Tax Section Annual Meeting, Austin , June 27, 2014.
  • Interview, Larry W. Gibbs, Texas Federal Tax Institute, San Antonio, June 2014.
  • Filmed Interview, Kenneth W. Gideon, Texas Tax Legends Interview Series, April 7, 2014.

 

2013

  • Filmed Interview, Phillip L. Mann, Texas Tax Legends Interview Series, December 3, 2013.
  • Filmed Interview, John E. (Buck) Chapoton, Texas Tax Legends Interview Series, August 23, 2013.
  • Filmed Interview, Stanley Johanson, Texas Tax Legends Interview Series, Texas Tax Section Annual Meeting, Dallas, Texas, June 21, 2013.
  • Filmed Interview, John E. (Buck) Chapoton & O. Donald Chapoton, Texas Tax Legends Interview Series, Texas Federal Tax Institute, San Antonio, June 12, 2013.
  • Filmed Interview, Stanley Johanson, Texas Tax Legends Interview Series, Jan. 29, 2013.

 

2012

  • Filmed Interview, Emily A. Parker, Texas Tax Legends Interview Series, Nov. 15, 2012.
  • "Who's on First?-Ethical Issues Arising from Multiparty Representation," August 30, 2012, 26th Annual Legal Seminar on Ad Valorem Taxation.
  • Filmed Interview, Charles W. Hall, Texas Tax Legends Interview Series, March 26, 2012.

 

2011

  • Presented, “Federal Tax Liens: How They Arise, What They Attach To, Competing Liens, Certificates, Withdrawals and CDP Requests,” Tax Alliance Conference, November 2, 2011.
  • Presented, “Representing Multiple Parties – Where Are We After the State Bar Referendum?”, 2011 University of Texas School of Law LLCs, LLPs, and Partnerships, July 15, 2011, with George W. Coleman, Bell Nunnally & Martin LLP, Dallas, TX.
  • Filmed Interview, Robert E. Davis, Texas Tax Legends Interview Series, Sept. 2011.
  • Filmed Interview, Larry B. Gibbs, Texas Tax Legends Interview Series, Texas Tax Section Annual Meeting, San Antonio , June  2011.
  • Filmed Interview, Larry B. Gibbs, Texas Tax Legends Interview Series, May 4, 2011.

 

2010

  • Presented, “Navigating the Dangerous Waters of Multi-Party Representation in LLC and Partnership Deals, University of Texas School of Law 2010 Conference on Partnership and Limited Liability Companies", July 22-23, 2010, Austin, Texas.
  • Presented, “Ethics of Multi-Party Representation in a Business Formation and Termination,” Texas Bar CLE webcast, July 8, 2010 with George Coleman, Bell & Nunnally, Dallas.
  • Presented, “The Future of Law Practice,” Dallas Bar Association, Professionalism Committee, July 6, 2010, with George Coleman, Bell & Nunnally, Dallas. 
  • Presented, “Ethics and Risks of Changing Law Firms,” State Bar of Texas CLE Webcast, March 2010 (with Ophelia Camina)
  • Presented, “The Future of Ethics and Law Practice in a Flat World,” State Bar of Texas CLE Webcast, March 2010 (with Ophelia Camina, Susman Godfrey, Dallas)
  • Presented, “Ethics and Risks in Multi-Party Representation,” to Dallas Chapter of CPAs, February 2010; Dallas Bar Association Section of Taxation, December 2009 (with Dan Baucum), and State Bar of Texas CLE Webcast, October 2009 (with George Coleman), and Grayson County, Texas Bar Association, July 2009.
  • Filmed Interview, David G. Glickman, Texas Tax Legends Interview Series, Nov. 29, 2010.
  • Filmed Interview, Ronald M. Mankoff, Texas Tax Legends Interview Series, Oct. 28, 2010.
  • Filmed Interview, Richard A. Freling, Texas Tax Legend Interview Series, Oct. 14, 2010.
  • Filmed Interview, Buford P. Berry, Texas Tax Legend Interview Series, Sept. 20, 2010.
  • Filmed Interview, Buford Berry, Ronald M. Mankoff & Richard Freling, Texas Tax Legends Interview Series, Oct. 28, 2010.

 

2009

  • Ethics & Liability of Multi-Party Representation, TexasBarCLE webcast, with George Coleman, Sept. 27, 2009, with paper.
  • Forming Professional Services Firm, with Dan Baucum, State Bar of Texas Advanced Tax Institute August 2009 and State Bar of Texas Annual Meeting June 2009. Purchasing Property From a Delinquent Taxpayer, September 2009 Taxes Magazine, Vol. 87, No. 8.
  • Presented, “Forming Services Company,” State Bar of Texas Annual Meeting June 2009 (with Dan Baucum, Tina Green & George Coleman) and State Bar of Texas Advanced Tax Institute August 2009 (with Dan Baucum).
  • Contributing author, Low Income Taxpayers Handbook (American Bar Association, 2009)

Texas Tax Legend Filmed Interviews