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Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P.

901 Main Street, Suite 3700
Dallas, TX 75202

Phone: 214.744.3700
Fax: 214.747.3732
Toll Free: 800.451.0093

submit inquiry
Mark A. McMillan

 Mr. McMillan practices in the areas of estate planning, probate law and federal income tax planning. This consists of the implementation of a series of documents to accomplish a client's objectives as to the disposition of his or her estate.  At the same time, this planning maximizes the credits and exemptions from federal estate and gift taxes provided under the Internal Revenue Code.  His practice also consists of representing executors in probate administration and the settlement of estates.  This includes the preparation of federal and state estate and inheritance tax returns.

Mr. McMillan provides counsel on the tax efficient establishment, operation, reorganization, and transfer of business interests. His practice emphasizes efficiently transferring wealth to successive generations while ensuring that his clients’ wishes are fulfilled.  His clients include a wide range of high and ultra-high net worth individuals as well as publicly traded companies. 

Mr. McMillan is also involved in high stakes tax litigation concerning federal transfer taxes.  His experience includes examinations, appeals, and tax court litigation.

Prior to joining the firm, he was a tax law clerk with a leading global investment banking, securities, and investment management firm. He was also a Law Clerk for Honorable Nancy Hershey Lord, United States Bankruptcy Court, Eastern District of New York.

  • New York University School of Law, LL.M. in Taxation, 2015
    • Tax Law Review, Graduate Editor
  • Fordham University School of Law, J.D., magna cum laude, 2013
  • University of Michigan, B.G.S., 2002
  • American Bar Association
    • Business Law Section
    • Real Property, Trust & Estate Law Section
    • Taxation Section
  • State Bar of Texas
    • Business Law
    • Real Estate, Probate & Trust Law
    • Tax Law
  • New York State Bar Association
    • Tax Section
    • Trust & Estates Law Section
  • Dallas Bar Association
    • International Law Section
    • Probate, Trusts & Estates Section
    • Tax Section
  • State Bar of Connecticut
  • State Bar of New Jersey
  • Quality Collusion: News, If it Ain't Broke Why Fix It?, 39 Fordham Urb. L.J. 1895 (2012)
August 31, 2016

IRS Rolls Over On Late IRA Rollovers... [ read ]

You are probably familiar with the idea of an IRA rollover. Generally, taxpayers can distribute assets from an IRA account, without an immediate tax consequence, provided that the assets are contributed to another IRA account within 60 days. The distribution is subject to tax, as well as a potential 10% early withdrawal penalty, if a taxpayer misses the 60-day deadline. The IRS may waive the deadline if it "would be against equity or good conscience" to enforce it. See I.R.C. §§ 402(c)(3)(B) or 408(d)(3)(I). Until last week, Revenue Procedure 2003-16 governed the procedure for granting waivers.

May 6, 2016

Master Limited Partnerships and Cancellation of Indebtedness Income... [ read ]

A Master Limited Partnership ("MLP") is an investment vehicle used in oil and gas, and several other industries. MLPs are designed to avoid corporate level taxation; however, this comes at a price that many investors have not anticipated.

April 22, 2016

Think You're Too Wealthy for a ROTH IRA? Think Again.... [ read ]

Excluding pensions and defined benefit retirement plans, there are two basic schemes for retirement accounts: one in which dollars are contributed pre-tax, grow tax deferred and are subject to income tax on withdrawal, and the other, where dollars are contributed after-tax, grow tax free and are not subject to tax upon withdrawal.

March 24, 2016

IRS Delays Basis Consistency Reporting Due Date (again)... [ read ]

The IRS issued Notice 2016-17 (a link to the Notice will be provided when available), effective March 23, 2016. The notice extends the initial filing deadline for the new Form 8971 to June 30, 2016.

March 4, 2016

Time to Celebrate -- The IRS Issued Temporary & Proposed Regs Detailing Consistency Basis Reporting Requirements!... [ read ]

On 3/2/14, the IRS issued proposed and temporary regulations addressing the basis consistency requirements under §§ 1014 and 6035 of the Code. As discussed in my prior post on the subject, regulation § 1.6035-2T(b) reiterates the March 31, 2016 due date for filing Form 8971 that would otherwise have been due prior to then.

February 11, 2016

IRS Delays Basis Consistency Reporting Due Date... [ read ]

IRS extends the filing deadline for the new Form 8971 to March 31, 2016.

February 3, 2016

Basis Consistency Reporting Due Date for Estates... [ read ]

On Jan. 29, 2016, the Internal Revenue Service released Form 8971, "Information Regarding Beneficiaries Acquiring Property From a Decedent" with instructions. The form must be filed by any estate with an estate tax return that was required to be filed after July 31, 2015.

January 26, 2016

Decanting: Injecting Flexibility into Irrevocable Trusts... [ read ]

Irrevocable trusts restrict a beneficiary's access to assets. Generally, trusts are designed to provide trustees with sufficient flexibility to achieve the settlor's goals. However, until Doc Brown perfects the Flux Capacitor, the unforeseeable will occur and trusts, which were thought to be perfect in every regard at inception, will fail to achieve the settlors' goals.