Stuart Schabes - Business, Tax and Creditors' Rights, Workouts and Bankruptcy  Lawyer at Ober|Kaler (Baltimore, MD)

Stuart M. Schabes

Principal
smschabes@ober.com
410.347.7696
443.263.4196 fax

Bar Admissions

  • Maryland
  • Ohio

Court Admissions

  • Court of Appeals of Maryland
  • Supreme Court of Ohio
  • United States Tax Court

Education

  • Georgetown University Law Center (LL.M., 1986)
  • Hofstra University School of Law (J.D., 1984)
    • Notes and Comment Editor, Hofstra Law Review
  • Duquesne University (B.S., magna cum laude, 1981)

Stuart M. Schabes

Experience

Stuart M. Schabes, an experienced tax and corporate attorney, co-chairs Ober|Kaler's Tax Group and Business Group. His vision and deep understanding of how clients can benefit from cutting-edge tax planning and structures for domestic and in-bound transactional matters is opening new doors for Ober|Kaler’s clients seeking innovative tax counsel and new business opportunities.

Stuart represents clients in complex business matters. His many successes include negotiation of countless mergers, acquisitions, management buyouts, and sales to – and from – private equity and other joint venture-related entities.

Experienced in virtually all aspects of tax litigation at both the federal and state level, Stuart has taken the lead in many tax controversy cases involving the IRS and various state taxing authorities. These include IRS examinations and appellate matters involving income tax, excise tax and employment tax, as well as worker classification issues. His clients operate in widely diverse industries, including aviation, credit card, trucking and transportation, logistics, health care, real estate, hospitality, entertainment and the not-for–profit/exempt sectors.

Stuart’s successful track record of resolving disputes at all levels of the IRS includes participating in the IRS’ newly expanded litigation alternative known as the IRS fast-track mediation process. With many years of experience dealing with the IRS Collection Division on an national level, he is known for his determination in negotiating and resolving IRS tax assessments for both domestic and international based corporations, including Fortune 100 entities, limited liability companies, trusts and estates, entrepreneurs, sole proprietors and individuals. Once a tax liability is imposed, Stuart helps clients navigate numerous payment and priority issues. Such issues include the erroneous issuance of IRS tax liens and levies, and their subsequent release and withdrawal.

Recent economic conditions are prompting many clients to seek Stuart’s counsel to handle tax workout situations involving large tax liabilities and abatement of various penalty and interest-related matters. He represents corporate and business directors, officers and employees who are confronting Trust Fund Recovery Penalty matters and similar issues at the state and local level. He provides legal counsel to both domestic and non-U.S.-based clients on participation in various voluntary compliance and amnesty-based programs, including the FBAR filing rules.


PodcastPodcasts

All About FBAR
Tax lawyer Stuart M. Schabes speaks with Philip Stein & Associates on FBAR (Foreign Bank Account Report). Listen to the interview here.

OVDI - A Term You Should Know More About
Stuart speaks again with Philip Stein & Associates, this time on OVDI (offshore voluntary disclosure initiative). Listen to the interview here.
 

OVDI - Breaking News
Stuart's most recent interview with Philip Stein & Associates, on OVDI. Listen to the interview here.
 

Events

Tax Questions Every Israeli Living/Doing Business in the US Needs to Ask and Get Answered
Stuart joined Philip L. Stein and Associates to explain tax issues for Israelis who live or do business in the United States. The program included discussion of FATCA, IRS reporting, stock options, transfer pricing and many other related topics. More...

FATCA – 2013 and Beyond
Stuart presented “FATCA – 2013 and Beyond” at The Perfect Storm: US Tax Legislation and IRS Compliance 2013, a program hosted by Philip Stein & Associates and ERM. More...

Increased IRS Tax Compliance Involving U.S. Citizens/Green Card Holders in Israel
Stuart joined Philip L. Stein and Associates to speak before the Israeli CPA Association on tax issues affecting U.S. citizens and green card holders in Israel. Stuart discussed the impact of FATCA; increased focus on Israeli based taxpayers and preparers; the significant increase in IRS audits, tax liens and related procedural issues; and the 2012 voluntary disclosure initiative, amended most recently on June 26, 2012. More...

Very Important IRS Topics for Israeli CPAs
Stuart visited Israel to speak on US tax issues in front of Israeli CPAs and lawyers to better explain the newest IRS regulations, US real estate investment and the opening of a US office. The event was presented by the Israeli CPA Association and Philip Stein & Associates. View the event photos here.

 


 

Stuart continues to serve as special tax counsel to several global companies, assisting them with numerous IRS and other regulatory and compliance-related issues, including those uniquely applicable under the federal excise tax provisions. He helps secure significant tax refunds for business clients and is often involved in groundbreaking federal excise tax matters such as those affecting various airlines and charter companies.

In addition to his involvement in various legal and aviation industry associations, Stuart is active in an array of charitable and community activities. He currently serves as a board member of THE ASSOCIATED: Jewish Community Federation of Baltimore.

Professional Memberships

Community Service

Honoraries

  • Listed in The Best Lawyers in America, Business Organizations (including LLCs and partnerships) and Tax Law Categories (Woodward/White, Inc.), 2012-2015
  • Listed in Smart CEO's Legal Elite, 2010
  • Listed in Maryland Super Lawyers, Business/Corporate, 2007-2012

Professional Background

  • Partner, Galland, Kharasch, Greenberg, Fellman & Swirsky, P.C.
  • Partner, Blum, Yumkas, Mailman, Gutman & Denick, P.A.
  • Attorney, Frank, Bernstein, Conaway & Goldman
  • Attorney, Advisor to Judge Herbert L. Chabot of the United States Tax Court

 

Publications & Presentations [View All]
  • Presenter, “Increased IRS Tax Compliance Involving U.S. Citizens/Green Card Holders in Israel,” Philip L. Stein and Associates, Israeli CPA Association, 2012
  • Presenter, "Why is it my Business? New Laws and Tax Return Regulations Relevant to Bank Accounts Outside the US," Israeli CPA Association, 2012
  • Presenter, "Very Important IRS Topics for Israeli CPAs," Philip L. Stein and Associates, Israeli CPA Association, 2012
  • Participant, "All About FBAR," Interview with Philip Stein & Associates, 2011 
  • Presenter, "How to Deal with Increased IRS Audits and Compliance Issues in Israel," 2011 
  • Presenter, "The New IRS in 2010 and Beyond - Is 'New' Better?," 41st Annual Chesapeake Tax Conference, Maryland Association of CPAs, 2010