Richard M. Lipton

Senior Counsel
Baker & McKenzie LLP


Richard Lipton is a senior counsel in Baker McKenzie. He advises on tax planning for corporations, partnerships and limited liability companies, and has handled numerous engagements in structuring partnership and real estate transactions.

Richard served on the Internal Revenue Service Advisory Council, and is a former adjunct professor at the University of Chicago Law School, where he taught partnership taxation. Richard is also past chair of the ABA section of Taxation.

Practice Focus

Richard advises US and multinational clients on federal tax issues. He also has extensive experience in a number of other areas relating to tax law, including tax-exempt organizations and the rules involving unrelated business income tax, the tax consequences of bankruptcies and workouts, and various tax accounting issues. He also provides tax advice to several professional sports franchises.

Richard has represented large corporations in complex partnership transactions, and has served as an expert witness on matters concerning partnerships and partnership taxation. He also has considerable experience in the areas of real estate investment trusts, real estate funds and investment in real estate by tax-exempt organizations and foreign investors.

Professional Associations and Memberships

  • American Bar Association - Member, House of Delegates
  • American Bar Association, Tax Section - Member of Council
  • American College of Tax Counsel - Fellow; Former Chair
  • Chicago Bar Association - Former Chair, Federal Tax Committee


  • Texas~United States (2019)
  • U.S. Court of Federal Claims~United States (1980)
  • District of Columbia~United States (1978)
  • U.S. Tax Court~United States (1977)
  • Illinois~United States (1977)


  • University of Chicago Law School (JD) (1977)
  • Amherst College (BA) (1974)


  • English


  • Co-author (with Paul Carman, Charles Fassler, and Walter D. Schwidetzky), Partnership Taxation, 2006
  • Co-author (with David Evaul and Todd Wallace), Passive Activity Losses,1995


  • Co-Author, "ES NPA Holding, LLC: Tax Court Upholds Properly Structured Profits Interest under Rev. Proc. 93-27," Journal of Taxation, August 2023
  • Co-Author, "Farhy v. Commissioner: IRS Cannot Use Assessment Procedures for Certain Penalties," Journal of Taxation, July 2023
  • Author, "Controversial Proposed Regulations on Domestically Controlled Entities Ignite a Firestorm," Journal of Taxation, June 2023
  • Author,  "Final Regulations Issued for Qualified Foreign Pension Funds, Journal of Taxation," Journal of Taxation, May 2023