Bruce M. Reynolds
Bruce Reynolds is a Senior Member of the firm based in its Lexington office although he advises lawyers located in other offices as to complex tax matters. His practice focuses primarily on taxation and tax related matters, including tax controversies and disputes, business transactions and estate planning for business owners. He also has been involved in numerous disputes involving fiduciary relationships.
During his long career with Stites & Harbison, Bruce has assisted many of the firm's largest clients with a myriad of complex federal, state, and local tax matters. His most notable tax case involved the successful representation of a Chicago Board of Trade floor trader before the United States Tax Court in a commodity straddles case which resulted in a decision that invalidated two Treasury regulations. He also has assisted clients in obtaining favorable private letter rulings from the Internal Revenue Service in a variety of matters of first impression.
Recent Cases Define the Prohibition Against Tax Collection During Refund Suits
Corporate Taxation
IRS Modifies Position and Allows Discounts on Intra-Family Stock Transfers
Is There Any Statute of Limitations on the 'Tax Shelter' Penalties?
Planning for Partnership Disputes
Applying I.R.C. Section 1033 to Involuntary Conversion of Thoroughbred Horses
Tax Free Exchange of Interests in Thoroughbred Horses
Obtained, in a case of first impression, a U.S. District Court injunction against IRS collection activities pursuant to IRC § 6331(i)
Assisted a community hospital to terminate its participation in a health alliance by successfully arguing in court a breach of the health alliance’s fiduciary duties to the hospital
Successfully represented a thoroughbred horse farm against IRS claims that losses incurred by the horse operation were non-deductible as hobby losses pursuant to IRC § 183
Represented a spouse nine years after her divorce in obtaining a greater share of the sales proceeds of a marital business by asserting a breach of a continuing post-marital fiduciary duty by her former husband
Continues to represent various members of the equine and real estate industries in tax related transactions including tax-free exchanges, entity formation, and business dissolution
Continues to assist many business owners plan for succession
Georgetown University
University of Kentucky College of Law
University of Kentucky
After graduating from college and law school at the University of Kentucky, Bruce spent four years in Washington, D.C. working first for the Chief Counsel of the Internal Revenue Service and then as an attorney-advisor to the Hon. J. Gregory Bruce, Judge of the United States Tax Court. Also, while in Washington, he earned an LL.M. in Taxation from Georgetown University.
Bruce and his wife, Kathy (a certified public accountant), have been married since 1970 and they have a son, Ben, a New York investment banker. Bruce is an avid sports fan with a love of basketball and soccer. His idea of a vacation is being on a bicycle on the back roads of Italy looking forward to his next glass of wine and bowl of pasta.
Martindale-Hubbell® AV-Preeminent® Peer Review Rated
Best Lawyers in America®, Employee Benefits (ERISA) Law; Litigation & Controversy - Tax; and Tax Law (1993-2024)
Best Lawyers in America®, Lexington Area Lawyer of the Year for Employee Benefits (ERISA) Law (2014)
Best Lawyers in America®, Lexington Area Lawyer of the Year for Tax Law (2011)
Kentucky Super Lawyers® (2010-14)
Stites & Harbison, PLLC Lawyers Named to 2024 Best Lawyers® Publications
LOUISVILLE, Ky.—Stites & Harbison, PLLC is pleased to announce that 101 of its lawyers are included in the 2024 edition of The Best Lawyers in America®.
Stites & Harbison, PLLC Lawyers Named to 2023 Best Lawyers® Publications
LOUISVILLE, Ky.—Stites & Harbison, PLLC is pleased to announce that 98 of its lawyers are included in the 2023 Edition of The Best Lawyers in America©. Additionally, 11 Stites & Harbison attorneys are named as “Lawyer of the Year” and 19 attorneys are recognized in “Best Lawyers: Ones to Watch,” which recognizes attorneys early in their careers for outstanding professional excellence in private practice in the United States.
Stites & Harbison, PLLC Lawyers Named to 2022 Best Lawyers® Publications
LOUISVILLE, Ky.—Stites & Harbison, PLLC is pleased to announce that 93 lawyers are included in the 2022 Edition of The Best Lawyers in America©. Since it was first published in 1983, Best Lawyers® has become universally regarded as the definitive guide to legal excellence. Additionally, 11 attorneys are named as “Lawyer of the Year” and 14 attorneys are recognized in “Best Lawyers: Ones to Watch,” which recognizes attorneys early in their careers for outstanding professional excellence in private practice in the United States.
Stites & Harbison, PLLC Lawyers Named to 2021 Best Lawyers® Publications
LOUISVILLE, Ky.—Stites & Harbison, PLLC is pleased to announce that 82 lawyers are included in the 2021 Edition of The Best Lawyers in America©.
Best Lawyers in America Honors 75 Stites & Harbison attorneys for 2020
LOUISVILLE, Ky.—The Best Lawyers in America© 2020 has recognized 75 Stites & Harbison, PLLC attorneys as selected by their peers in 49 areas of practice. Forty-three of those attorneys selected have been honored for 10 consecutive years or more.
Best Lawyers in America honors 72 Stites & Harbison attorneys for 2019
Best Lawyers in America honors 79 Stites & Harbison attorneys for 2018
Best Lawyers in America honors 74 Stites & Harbison attorneys for 2017