Richard L. Lieberman

Senior Counsel

Richard Lieberman is a senior counsel in the Chicago office of Dykema. Richard advises individuals and private and public companies in all aspects of tax planning for business and investment activities.

He concentrates his practice on the tax aspects of complex business transactions, including mergers and acquisitions, joint ventures, and leveraged buyouts as well as recapitalizations, partnership and corporate restructurings, and general tax advice and planning, handling transactions which range in size from several million dollars to more than $500 million.

Richard’s practice also focuses on executive compensation matters in connection with mergers and acquisitions and other business transactions, including the design and implementation of equity and cash incentive compensation and retention programs, and the negotiation of executive employment, change in control and separation agreements.

Education

- DePaul University College of Law, LL.M., Taxation, 1990
- New York University School of Law, LL.M., International Legal Studies, 1984
- ITT Chicago-Kent College of Law, J.D., magna cum laude, 1983
- University of Wisconsin-Madison, B.B.A., Accounting and Finance, 1980

Bar and Court Admissions

Bar Admissions
- Illinois
Court Admissions
- U.S. Tax Court
- U.S. District Court, Northern District of Illinois
- U.S. Court of Appeals, 7th Circuit

Professional Recognition

- Recognized as a "Leading Individual" by the International Tax Review, World Tax Edition, 2001-2005

Community

- Member of Law360’s Tax Authority Federal Advisory Board, 2020
- American Bar Association, Section of Taxation, member
- Adjunct Professor, IIT/Chicago-Kent College of Law, 1993–1996
- Editorial Board of the Journal of Multistate Taxation, 1991-1999

Chicago 312-627-2250

Areas of client focus

Practices

Corporate and Finance Employee Benefits and Executive Compensation Federal Tax Nonprofits and Tax-Exempt Organizations Real Estate Tax Incentives and Economic Development State and Local Tax Tax

Industries

Cannabis Dental Service Organizations (DSO)Healthcare M&A Management Services Organization Veterinary Service Organizations (VSO)

Latest News and Insights

Press Releases12.18.25

Dykema Advises the Pearl Fund on Launch of $500M Tax-Advantaged Bitcoin Opportunity Zone Fund

Dykema congratulates The Pearl Fund on the launch of its groundbreaking $500 million Pearl Bitcoin…

Press Releases12.15.25

Dykema Advises Dermatology Specialists of Omaha on its Partnership with Forefront Dermatology

Dykema congratulates its client, Dermatology Specialists of Omaha (“DSO”), on its partnership with…

Legal Alerts10.27.25

New York Moves to Clarify LLC Transparency Act Ahead of 2026 Implementation

New York has taken steps to clarify its Limited Liability Company Transparency Act before it takes…

Provided tax counsel to private equity funds in the formation and acquisition of Dental and Medical Service Organizations valued in the aggregate in excess of $1 billion.
Restructured dental and medical practices in advance of sales to private equity fund buyers valued in the aggregate in excess of $1 billion.
Reorganized medical and dental practices in a tax-efficient manner for operational purposes.
Restructured private health care organization valued in excess of $300 million in advance of sale to ESOP.
Advised private equity fund and structured acquisitions of health care businesses valued in excess of $250 million.
Represented family office in $100 million acquisition of Dental Service Organization and restructured acquired DSO to obtain optimal tax efficiency.
Represented diversified Tier 1 automotive supplier in its tax-free spin-off of brakes division.
Represented multiple real estate partnerships in IRS audits of conservation easement donations, including filing of Tax Court and IRS Appeals petitions.
Represented various real estate partnerships in completing like-kind exchanges under IRC Section 1031.
Advised private retail company on the tax consequences of its $70 million sale to private equity buyer.
Advised publicly traded energy company on tax consequences of lender’s debt for equity exchange.
Advised privately held energy company on its acquisition by publicly traded energy company.
Restructured private theme park in advance of its $275 million sale to publicly traded theme park operator.
Advised publicly traded Clearday, Inc in its acquisition and merger with Allied Integral United, Inc., including drafting the tax opinion for the reverse merger, reverse stock split and true-up distribution transactions.
Advised consortium of publicly traded banks on creation of Delaware Statutory Trust, and drafted liquidation trust agreement for transaction valued in excess of $500 million.
Advised publicly traded financial institution on executive compensation matters related to senior officers.
Advised Germany-based aircraft manufacturer on tax issues associated with its U.S. initial public offering, including inbound U.S. tax structuring.
Advised private U.S. corporation on its acquisition of UK-based subsidiary, including tax structuring and executive compensation.
Formed and structured numerous Management Feeder partnerships allowing profits interests holders to retain employee status.
Represented real estate fund sponsors forming single asset and multi-asset Qualified Opportunity Zone funds.
Represented investors investing deferred gains into Qualified Opportunity Funds.
Represented real estate developers in the organization of single asset and multi-asset Qualified Opportunity Zone funds.
Represented real estate investors in the design and implementation of a like-kind exchange for hotel property requiring the use of a unique partnership division to accomplish the exchange.
Represented the owners of a family-owned business in their $120 million sale of the business, which required the use of multiple F reorganizations, multiple formless conversions and a one-day note payment structure.
Represented a not-for-profit charter school in organizing a new structure to operate multiple charter schools across multiple states.
Represented a municipal corporation in its $25 million affordable housing project using both federal low-income housing tax credits and Illinois affordable housing tax credits.

Chicago 312-627-2250

Areas of client focus

Practices

Corporate and Finance Employee Benefits and Executive Compensation Federal Tax Nonprofits and Tax-Exempt Organizations Real Estate Tax Incentives and Economic Development State and Local Tax Tax

Industries

Cannabis Dental Service Organizations (DSO)Healthcare M&A Management Services Organization Veterinary Service Organizations (VSO)

12.18.25

Dykema Advises the Pearl Fund on Launch of $500M Tax-Advantaged Bitcoin Opportunity Zone Fund

Press Releases

Dykema congratulates The Pearl Fund on the launch of its groundbreaking $500 million Pearl Bitcoin Fund (Pearl BTC), the first fully SEC-compliant Bitcoin investment vehicle structured to eliminate…
12.15.25

Dykema Advises Dermatology Specialists of Omaha on its Partnership with Forefront Dermatology

Press Releases

Dykema congratulates its client, Dermatology Specialists of Omaha (“DSO”), on its partnership with Forefront Dermatology, a portfolio company of Partners Group. This collaboration will expand access…
10.27.25

New York Moves to Clarify LLC Transparency Act Ahead of 2026 Implementation

Legal Alerts

New York has taken steps to clarify its Limited Liability Company Transparency Act before it takes effect on January 1, 2026—but not all questions are settled. Recent amendments aim to align the…
03.03.25

U.S. Companies No Longer Subject to CTA Enforcement, Treasury Confirms

Legal Alerts

On March 2, the U.S. Treasury Department announced that it would suspend enforcement of the Corporate Transparency Act (CTA) against U.S. citizens and domestic reporting companies. This means that no…
02.28.25

FinCEN Will Not Impose Fines or Penalties for Beneficial Ownership Reporting Deadlines

Legal Alerts

The Financial Crimes Enforcement Network (FinCEN) announced that it will not impose fines, penalties, or take enforcement actions against companies that fail to file or update their Beneficial…
02.20.25

Corporate Transparency Act’s BOI Reporting Mandates Reinstated… For Now—Preparing for Upcoming Deadlines and Legislative Challenges

Legal Alerts

BOI reporting requirements under the CTA are back in effect. On February 17, a federal judge lifted the nationwide stay he had issued on January 7 in Smith v. U.S. Department of the Treasury, 6:24-cv…

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Chicago 312-627-2250

Areas of client focus

Practices

Corporate and Finance Employee Benefits and Executive Compensation Federal Tax Nonprofits and Tax-Exempt Organizations Real Estate Tax Incentives and Economic Development State and Local Tax Tax

Industries

Cannabis Dental Service Organizations (DSO)Healthcare M&A Management Services Organization Veterinary Service Organizations (VSO)

Richard L. Lieberman

Bar Admissions

Court Admissions

Contact

Areas of client focus

Practices

Industries

Latest News and Insights

Contact

Areas of client focus

Practices

Industries

Dykema Advises the Pearl Fund on Launch of $500M Tax-Advantaged Bitcoin Opportunity Zone Fund

Press Releases

Dykema Advises Dermatology Specialists of Omaha on its Partnership with Forefront Dermatology

Press Releases

New York Moves to Clarify LLC Transparency Act Ahead of 2026 Implementation

Legal Alerts

U.S. Companies No Longer Subject to CTA Enforcement, Treasury Confirms

Legal Alerts

FinCEN Will Not Impose Fines or Penalties for Beneficial Ownership Reporting Deadlines

Legal Alerts

Corporate Transparency Act’s BOI Reporting Mandates Reinstated… For Now—Preparing for Upcoming Deadlines and Legislative Challenges

Legal Alerts

Contact

Areas of client focus

Practices

Industries