James M. Peaslee is a tax lawyer whose practice focuses on the financial world, including structured finance, financial products, and financial institutions.

He is the co-author of Federal Income Taxation of Securitization Transactions (5th Edition) and more than 50 books and articles on tax subjects. Among the wide range of recognition he has received for his work on behalf of clients, Best Lawyers selected Jim as its “2011 New York Tax Lawyer of the Year.”

Jim joined the firm in 1976, became a partner in 1984, and became senior counsel in 2018. 

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Selected Activities

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  • Member, Executive Committee, New York State Bar Association’s Tax Section; Former Tax Section Chair (1991)

Publications

Books

Federal Income Taxation of Securitization Transactions and Related Topics,* Tax Analysts Publishers (5th Edition 2018).

Federal Income Taxation of Securitization Transactions and Related Topics,* Frank J. Fabozzi Associates Publishers (4th Edition 2011).

Federal Income Taxation of Securitization Transactions,* Frank J. Fabozzi Associates Publishers (3rd Edition 2001).

The Federal Income Taxation of Mortgage-Backed Securities,* Probus Publishing Company (Revised Edition 1994).

Federal Income Taxation of Mortgage-Backed Securities,* Probus Publishing Company (1989).

Articles

“Documentation Rules Round 2: A Taxpayer Project for 2016, Not 2018,” Tax Notes, October 31, 2016, 689.

“Disregarded Entities and Debt Modifications,” Tax Notes, March 7, 2016, 1145.

“Aggregation or Bifurcation of Property Interests,” co-author, Tax Notes, December 12, 2011, 1355.

“Carried Interests and Loss Limits for C Corporations,” Tax Notes, June 21, 2010, 1397.

“Questions on ‘Cadillac’ Plan Excise Tax,” Tax Notes, October 26, 2009, 471.

“Tax Penalties and the Health-Care Bill,” Wall Street Journal, August 25, 2009.

“Overbroad FTC Antiarbitrage Regulations Enter into Force,” (with James A. Duncan and Sarah L. Berman), Tax Notes, August 4, 2008, 495.

“Punishment Without a Crime,” Tax Notes, August 4, 2008, 503.

“Midco Woes: Comment on Enbridge Energy,” Tax Notes, April 28, 2008, 405.

“Tax Classification of Segregated Portfolio Companies,” Tax Notes, October 1, 2007, 43 (Jorge Tenreiro co-author). Updated version will be in Practicing Law Institute’s Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations & Restructurings (2008).

“Comment on Pseudo Passthroughs,” Taxes, March 2007 (paper for University of Chicago tax conference).

“Special Report: Creditable Foreign Taxes and the Economic Substance Profit Test,” Tax Notes, January 29, 2007, 443 (also published in Tax Notes International and Derivatives Report).

“Distinguishing Sales from Financings and Debt from Equity,”* in Practicing Law Institute’s Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations & Restructurings (each year from 2003-2007).

“Special Report: Goldman Sachs Ruling on Variable Strips—An Epiphany at 1111,” Tax Notes, June 26, 2006, 1495.

“Current and Quotable: Circular 230: Make Room for Informal Written Advice,” Tax Notes, March 21, 2005, 1457.

“Viewpoints: Dover Done in by Senate ETI Bill; Don’t be the Last to Know,” Tax Notes, June 14, 2004.

“Special Report: Revenue Raisers in the Senate Jobs Bill—Unintended Consequences and Better Choices,” Tax Notes, February 2, 2004, 621.

“Letters to the Editor: Economic Substance Codification Debate: Fun With Fallacies,” Tax Notes, June 9, 2003, 1567.

“Letters to the Editor: Economic Substance Codification Gets Worse,” Tax Notes, May 19, 2003, 1101.

“Current and Quotable: More Thoughts on Proposed Economic Substance Codification,” Tax Notes, May 5, 2003, 747.

“Special Report: Modifications of Non-debt Financial Instruments as Deemed Exchanges,” Tax Notes, April 29, 2002, 737.

“A Modest Proposal to Fix the Taxation of Securitization Transactions,”* Journal of Taxation of Financial Instruments, Fall 2001, 11.

“Current and Quotable: FASIT Regs are a Big Disappointment,” Tax Notes, February 14, 2000, 1011.

“Special Report: Economic Substance Test Abused: Notice 98-5 and the Foreign Law Taxpayer Rule,” Tax Notes, April 6, 1998, 79 (also in Tax Notes International).

“Viewpoint: The Viacom Ruling—Two Ships Passing in the Night,” Tax Notes, September 9,1996, 1435.

“Federal Income Tax Treatment of Mortgage-Backed Securities”* revised and updated periodically. Appeared in The Handbook of Mortgage-Backed Securities, Probus Publishing, First Edition 1985, Revised Edition 1988, Third Edition 1992, and Fourth Edition 1995; in International Asset Securitization, edited by Joseph J. Norton, Mitchell S. Dupler and Paul R. Spellman, Lloyd’s of London Press Ltd. (1995), and in other publications.

“Investment Trusts in the Age of Financial Derivatives,” 49 Tax Law Review 419 (Spring 1994).

“Special Report: Section 382 and Separate Tracking,” (with Lisa A. Levy), Tax Notes, September 28, 1992, 1779.

“Letters to the Editor: The Treatment of Deferred Loan Fees Paid to Thrift Institutions,” (with Edward D. Kleinbard) in Tax Notes, January 16, 1989, 377.

“Special Report: Interest-Only REMIC Regular Interest,” (with David Z. Nirenberg and Nicholas L. Gunther), Tax Notes, November 21, 1988, 855.

“Current and Quotable: Peaslee Offers Observations on Current Accrual of Market Discount Proposal,” Tax Notes, December 7, 1987, 1055.

“Current and Quotable: Peaslee Sees ‘Zero Basis’ Problem Arising Under Amendment to Section 361,” Tax Notes, February 16, 1987, 725.

“Special Report: Section 382 as Amended by the Tax Reform Act of 1986,” (with Shlomo Cohen), Tax Notes, December 1, 1986, 849. Also appeared in Practicing Law Institute’s Tax Strategies for Leveraged Buyouts and Other Corporate Acquisitions and Restructurings 1987, Volume Two, and in other publications.

“Current and Quotable: Technical Problems with Calculating Amortizable Bond Premium,” Tax Notes, January 20, 1986, 277.

“Federal Income Tax Treatment of Structured Receivables Financing,” in Structured Receivables Financing: Managing Risks More Efficiently in Security Form, Co-Chairmen: Edward F. Greene and Walter G. McNeil , Law & Business, Inc./Harcourt Brace Jovanovich, Publishers (1985).

“Current and Quotable: Peaslee on OID and Home Mortgages,” Tax Notes, March 11, 1985, 1035.

“Federal Income Taxation of Defeasance Transactions,” in In-Substance Defeasance Transactions: New Strategies for Extinguishing Debt, Co-Chairmen: Edward F. Greene and John J. Huber, Law & Business, Inc./Harcourt Brace Jovanovich, Publishers (1984).

“Discharge of Debt Through Its Acquisition by a Person Related to the Debtor—An Analysis of Section 108(e)(4),” 37 Tax Law Review 193 (Winter 1982).

“Changes asked in Original Issue Discount and Coupon Stripping Rules Relating to Tax-Exempt Obligations,” Tax Notes, November 1, 1982, 358.

“Need for Clarification of Original Issue Discount and Coupon Stripping Rules,” Municipal Finance Journal, Fall 1982, 278.

Book Review, Elizabeth A. Owens & Gerald T. Ball: The Indirect Credit, 19 Columbia Journal of Transnational Law 156 (1981)“The Limits of Section 103(c): Municipal Bond Arbitrage After the Invested Sinking Fund,” 34 Tax Law Review 421 (Spring 1979).

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* David Nirenberg co-author.

Selected New York State Bar Association Tax Section Reports (Principal Author or Co-Author)

“Systems for Holding Consumer and Privately Negotiated Loans in Registered Form to Qualify for the Portfolio Interest Exemption,” 2015 Tax Notes Today 58-18, March 25, 2015.

“Special Supplement: Securitization Reform Measures,” Tax Notes, February 10, 2003, 795.

“Acquisitions of Discount Debt by Related Parties Under the New Section 108(e)(4) Regulation,” (with Robert A. Jacobs, Linda Z. Schwartz, and Simon Friedman), Tax Notes, July 8, 1991, 211.

“Report on New York Tax Provisions Relating to Corporate Mergers and Acquisition,” (with Elizabeth Whalen) in Tax Notes, July 24, 1989, 433.

“Supplemental Report on Proposed Section 382,” Tax Notes, February 22, 1988.

“Report of Ad Hoc Committee on Proposed Original Issue Discount Regulations,” Tax Notes, January 26, 1987, 363.

“The Net Operating Loss Provisions of the House-Passed Version of H.R. 3838,” (with Matthew A. Rosen), Tax Notes, June 23, 1986, 1217.

“Report on Temporary Section 338 Regulations,” (with Michael L. Schler), Tax Notes, January 13, 1986, 137.

“Report on Tax Reform Act of 1984 Amendments to Section 1504(a), The Definition of ‘Affiliated Group,’” (with Lilian Stern), Tax Notes, August 19, 1985, 895.

“Report on Proposed Regulations under Section 453(f)(6) —Installment Obligations Received in Certain Non-recognition Exchanges,” Tax Notes, July 16, 1984, 297.

“Original Issue Discount and Coupon Stripping: Preliminary Report on Issues to be Addressed in Regulations and Corrective Legislation by the NYSBA Ad Hoc Committee on Original Issue Discount and Coupon Stripping,” Tax Notes, March 5, 1984, 993.

Events