FacultyFaculty/Author Profile

Loretta R. Richard

Ropes & Gray LLP

Boston, MA, USA


Loretta Richard is a Tax & Benefits Partner in Ropes & Gray, where she concentrates her practice on general federal income tax matters and employee benefits. She has special expertise in tax and benefits controversy matters (including administrative controversy and litigation).

Loretta regularly represents partnerships, corporations and individuals in connection with tax litigation matters. She represents clients who are under examination in connection with corporate, partnership and employee benefit matters and actively practices before the U.S. Tax Court, U.S. District Court and U.S. Court of Federal Claims.

Loretta was lead counsel on Russian Recovery Fund Ltd.vc. U.S., in which the Court of Federal Claims granted summary judgment in favor of the taxpayer in connection with a partnership tax controversy involving the applicability of the "at-risk" rules. In addition, she presently represents a corporation in connection with a matter relating to an alleged erroneous refund. She is also representing an investment partnership in tax litigation matters pending in U.S. Tax Court and U.S. Court of Federal Claims regarding determination of partnership income and deductibility of losses. Loretta recently settled a major controversy matter involving the corporate deductions of management fees.

As part of her benefits controversy practice, Loretta represents corporations, individuals and committees in connection with ERISA litigation matters including breach of fiduciary duty claims, preemption and common stock-related claims. In that regard, Loretta has represented clients in controversies relating to the back dating of stock options. She regularly represents clients before administrative agencies, such as the IRS, the DOL and the PBGC.

Also as part of her tax controversy practice Loretta regularly represents borrowers, municipal bond issuers and municipal bond purchasers before the Internal Revenue Service in connection with examinations, closing agreements and before the Department of Justice in responding to IRS summons. She is a member of the American College of Bond Counsel.

Loretta holds an appointment at Boston College Law School, where she has been teaching tax in the JD program since 1998. Loretta has been named as among The Best Lawyers in America, Tax and Public Finance (2006-2010), Benefits (2007-2010) and Super Lawyer, Tax (2010-2011).
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