Ms. Willey focuses on federal tax matters affecting individuals, corporations, trust and estates and non-profit organizations. She is a member of the firm’s estate planning, corporate, tax, real estate and banking teams.
Ms. Willey has assisted large financial institutions in transitioning trust relationships to successor financial institutions. She has counseled manufacturers with multi-state operations on strategies to preserve their state law corporate filings after a merger into a new corporation.
Tax Issues affecting Non-Profit Organizations
Ms. Willey also advises non-profit organizations and donors on tax issues associated with charitable gifts.
As part of the Estate Planning Team, Ms. Willey works on complex tax planning matters involving domestic and international estate planning. She advises other estate planners in the firm on strategies to reduce the value of a transferred interest based upon recent judicial developments. She also works on emerging tax issues affecting trusts and estates, including federal tax issues and regulatory matters.
As part of the estate planning process, Ms. Willey works with clients on corporate structuring, mergers and the creation of special entities to achieve business and family objectives. She has also helped clients with succession planning by creating, merging, dissolving and amending partnerships and LLCs and memorializing these decisions with buy-sell agreements. She assists clients in transferring assets into the appropriate entity in a tax sensitive manner to achieve family objectives.
Controversies with the IRS
As part of the firm’s tax controversy team, Ms. Willey has worked with the IRS National Office to resolve a tax-exempt organization’s excise tax and unrelated business income tax exposure that potentially affected contributors and the organization.
Federal Tax Legislation
Employee Benefit Plans
Ms. Willey joined McGladrey & Pullen National Tax after working for Congress. Her initial responsibilities included monitoring and communicating new federal tax legislative developments and analyzing federal tax regulatory guidance for clients and the firm’s professionals. As a Managing Director, she led teams of tax specialists to develop new tax ideas for clients. During her tenure with McGladrey, Ms. Willey testified before the IRS, participated in Finance committee hearings, worked with trade associations and met with legislative staff to advise them of issues of concern to the accounting profession and clients.
At McGladrey & Pullen, Ms. Willey served as a national leader on estate and gift tax issues. In that role, she drafted the initial Estate Planning Practice Guide, advised on tax practice and ethical responsibilities in the estate planning engagements and advised on content and speakers for internal estate planning conferences. Ms. Willey has presented seminars on buy-sell agreements and tax planning for high net worth individuals.
Ms. Willey organized the tax due diligence project and interoffice reviews for the merger of RSM McGladrey with American Express Tax and Business Services. She led tax practice integration efforts to address and resolve business management and software integration issues: capitalizing on her tax practice management consulting skills she honed working with RSM McGladrey’s Southern California, Mid-Atlantic, Philadelphia and Seattle tax practices.
Many business owners purchased collateral assignment split dollar life insurance policies before 2003. In some instances, business owners were unaware of the IRS changes to the split dollar rules in 2003 that may cause the equity in the policy to be taxed when the arrangement is terminated. Recently, clients have inquired what actions they might take to cure this problem. Read More >>
With the enactment of the Affordable Care Act (“Act”), health care providers will be evaluated on patient outcomes and quality care. The Act attempts to change the financial incentives for Medicare reimbursement to reward improved patient outcomes, as opposed to the current financial incentives based upon fees for services and procedures. This environment has caused many hospitals to consider how to improve communication between physicians and hospitals to improve patient care in a cost effective way. Read More >>
Individuals are permitted to deduct charitable contributions under Sec. 170 of the Internal Revenue Code. Contributions by individuals to tax-exempt entities under Sec. 501( c)(3) qualify for an income tax deduction if no part of the charity’s earnings inure to the benefit of a shareholder or individual. If a charitable organization lobbies or intervenes in a political campaign or attempts to influence legislation, it will lose its 501(c)(3) status and contributions to the organization will not be tax deductible. Read More >>
• Erroneous Worker Classification Creates Tax Liability, March 6th, 2010. The article discussed the recently revised guidelines that the Internal Revenue Service utilizes to determine whether workers are independent contractors or employees. The article also discussed the consequences of a misclassification and recent enforcement efforts on both the federal and state level. Read More >>
Place of Birth
Friday, October 25, 2013
Eight SPMB Attorneys Honored for Pro Bono Contributions
Iowa State Bar Association - 2012 December Tax School
Over 700 participants attended the Iowa State Bar Association's December Tax School on December 5th-7th. At the conclusion of the program, the organizing committee for the 2013 program anticipated more uncertainty in the federal income tax rules. Committee members advised co-chair Susan Willey to delay the development of an agenda for the 2013 program and to consider a possible tax reform topic.
University of California, Hastings College of the Law, (J.D., 1978)
Georgetown University Law Center, (L.L.M. in Taxation, 1985)
University of California, Berkeley, College of Environmental Design
University of California, Los Angeles, (B.A. Political Science, 1975)
Memberships, Offices and Committee Assignments in Bar Associations