Thomas R. Wechter

Duane Morris LLP
190 South LaSalle Street, Suite 3700
Chicago, IL 60603-3433

Phone: +1 312 499 6729
Fax: +1 312 277 2528

Import to Address Book

Thomas R. Wechter


Thomas R. Wechter practices in the area of tax planning for individuals, corporations and private equity and venture capital firms, particularly with respect to complex transactions involving acquisitions, dispositions, spinoffs and new venture investments. Mr. Wechter represents clients before the U.S. Tax Court, the U.S. Court of Federal claims and U.S. district courts.

Mr. Wechter is a 1966 graduate of the University of Chicago Law School and a graduate of New York University School of Law (LL.M., Taxation, with honors, 1968) and the University of Michigan.

Areas of Practice

  • Tax Law

Representative Matters

  • Represented JCG Foods, an affiliate of Koch Foods, in winning an auction in connection with an $80 million sale under section 363 of the bankruptcy code, obtaining bankruptcy court approval of the sale and entering into an Asset Purchase Agreement.


  • Illinois
  • Supreme Court of the United States
  • U.S. Court of Appeals for the Seventh Circuit
  • U.S. District Court for the Northern District of Illinois
  • U.S. Court of Federal Claims
  • U.S. Tax Court


  • New York University School of Law, LL.M., Taxation, with honors, 1968
  • University of Chicago Law School, J.D., 1966
  • University of Michigan, A.B., 1963


  • Duane Morris LLP
    - Partner, 2011-present
  • Schiff Hardin LLP
    - Partner/Of Counsel, 1998-2010
  • Holleb & Coff
    - Partner, 1984-1998
  • U.S. Department of Justice, Trial Division
    - Trial Attorney, 1968-1974

Professional Activities

  • American Bar Association
    - Tax Section
  • Chicago Bar Association
  • Lecturer, University of Chicago Graduate School of Business
  • Assistant Professor, Loyola University Chicago School of Law

Honors and Awards

  • Listed in Illinois Super Lawyers

Selected Publications

  • "Rollovers as Business Startups: A Guide to Using Retirement Funds to Start a Business," AICPA Tax Insider, October 17, 2013
  • "The Supreme Court's DOMA Decision Raises More Questions Than It Answers," AICPA Tax Insider, August 15, 2013
  • "Did Sergio Garcia Lose in Match Play with the IRS?," AICPA Tax Insider, May 16, 2013
  • "An Easier Way to Calculate the Home Office Deduction, AICPA Tax Insider, February 14, 2013
  • "Highlights of the Individual Tax Provisions in the New Taxpayer Relief Act," AICPA Tax Insider, January 17, 2013
  • "IRS Eases Rules on Written Advice on Tax Shelters," AICPA Tax Insider, October 11, 2012
  • Co-author, "Using the "One-Day Note" in S Corporation Stock Sales," AICPA Corporate Taxation Insider, August 23, 2012
  • "Offshore Disclosure Program Makes a Third Go-Round," AICPA Tax Insider, August 9, 2012
  • "Using S Corporations to Avoid the Medicare Tax," AICPA Tax Insider, June 14, 2012
  • "IRS Removes Two-Year Deadline for Requesting Equitable Innocent Spouse Relief," AICPA Tax Insider, March 8, 2012
  • "Tax Treatment of Employer-Provided Cellphones," AICPA Tax Insider, January 12, 2012
  • "Identity Theft: What Is It And What Is the IRS Doing About It?" AICPA Tax Insider, December 8, 2011
  • "A Status Report of the Individual Insurance Mandate and the Taxing Power," AICPA Tax Insider, October 13, 2011
  • "Defense of Marriage Act: What Should Same-Sex Couples Do?" AICPA Tax Insider, May 12, 2011
  • "The Second Coming of the Voluntary Disclosure Program for Undisclosed Foreign Accounts," AICPA Tax Insider, March 10, 2011
  • "The IRS Whistleblower Program," AICPA Tax Insider, February 10, 2011
  • "Educational Tax Benefits," AICPA Tax Insider, January 13, 2011
  • "The Child and Dependent Care Credit," AICPA Tax Insider, December 9, 2010
  • "A Very, Very Short Window of Opportunity for Investments In Qualified Small Business Stock," The AICPA Tax Insider, November 15, 2010
  • "Much Ado About Nothing: Small Business Jobs Act of 2010," AICPA Tax Insider, October 14, 2010
  • "How Poor Planning and Tainted Opinion Added Up to a $36.7 Million Accuracy Penalty," AICPA Tax Insider, September 9, 2010
  • "Repeal of the Estate Tax, but Carryover Basis for 2010," The AICPA Tax Insider, August 12, 2010
  • "Seventh Circuit Upholds Limitation Period for Seeking Equitable Innocent Spouse Relief," The AICPA Tax Insider, July 15, 2010
  • "Certiorari Denied in Textron: Is the Game Over?" The AICPA Tax Insider, June 24, 2010
  • "Does an Overstatement of Basis Constitute an Omission from Gross Income?" The AICPA Tax Insider, June 10, 2010
  • "Goodnight GRAT," The AICPA Tax Insider, May 13, 2010
  • "Increased Medicare Tax on High-Income Taxpayers and Unearned Income," The AICPA Tax Insider, April 15, 2010
  • "Uniform Definition of a Child for Dependency Exemption Tax Benefits," The AICPA Tax Insider, March 11, 2010
  • "Remember the Nanny Tax," The AICPA Tax Insider, February 11, 2010
  • "The Foreign Account Tax Compliance Act of 2009," The AICPA Tax Insider, January 14, 2010
  • "Selling Chicago Cubs Without Recognizing Any Taxable Gain: How Chicago Tribune Did It," The AICPA Tax Insider, December 10, 2009
  • "FBAR Reporting Requirements," The AICPA Tax Insider, November 12, 2009
  • "Obligations of Taxpayers and Tax-Return Preparers Regarding Amended Returns," The AICPA Tax Insider, October 15, 2009
  • "IRS Is Losing the Extended Statute of Limitations Applied to Inflated Basis Case Battle," The AICPA Tax Insider, September 10, 2009
  • "Recent Developments in Equitable Innocent Spouse Relief," The AICPA Tax Insider, August 13, 2009
  • "Successful Use of the Tax Practitioner Privilege Unlikely," The AICPA Tax Insider, July 16, 2009
  • "IRS Voluntary Disclosure Initiative," The AICPA Tax Insider, June 11, 2009
  • "Deferral Under the 2009 Recovery Act," The AICPA Tax Insider, May 14, 2009
  • "Switzerland, Austria, and More Say They Will," The AICPA Tax Insider, April 23, 2009
  • "Getting Foreign Accounts Right with the Government," The AICPA Tax Insider, April 9, 2009
  • "Targeting Offshore Bank Accounts," The AICPA Tax Insider, March 12, 2009
  • "FIN 48 and Tax Accrual Workpapers," The AICPA Tax Insider, February 26, 2009
  • Co-author, "Textron Workpapers Are Privileged Work Product," The AICPA Tax Insider, February 12, 2009
  • Co-author, "What Leftovers Are on Congress' Plate for 2009?" The AICPA Tax Insider, January 15, 2009
  • Co-author, "The IRS Bailout of the Bailout," The AICPA Tax Insider, December 11, 2008
  • Co-author, "The Bear Stearns Acquisition," The AICPA Tax Insider, November 13, 2008
  • Co-author, "The Mortgage Relief Act of 2007 and the Rescue Act of 2008," The AICPA Tax Insider, October 9, 2008
  • Co-author, "Court Broadens Tax Shelter Exception to Tax Practitioner Privilege," The AICPA Tax Insider, September 11, 2008
  • Co-author, "Is the Work in Tax Accrual Workpapers Workproduct?" The AICPA Tax Insider, August 14, 2008
  • Co-author, "Are Expatriates Now Being Taxed as Heroes?" The AICPA Tax Insider, July 17, 2008
  • Co-author, "Deferred Offshore Management Fee Plans May Be Shut Down," Stocks, Futures and Options, May 2004
  • Co-author, "Are New Treaties Signaling a Shift in U.S. Tax Policy?" Stocks, Futures and Options, April 2004
  • "Is Family Limited Partnership Right for You?" Stocks, Futures and Options, March 2004
  • "The Internal Revenue Code's Housing Program: Section 42," The Tax Lawyer, Winter 1991
  • "The ABCs of the Low-Income Housing Credit," Real Estate Accounting and Taxation, Spring 1991