Richard C. LaFalce

Partner

Richard C. LaFalce counsels clients on the creation and taxation of private and pooled investment vehicles, such as mutual funds, exchange-traded fund (ETFs), real estate investment trusts (REITs), real estate funds, private equity funds, Opportunity Zone Funds, collective investment trusts, and other investment-related entities. He frequently advises clients on the taxation of financial products, the unrelated business income tax (UBIT), as well as general corporate and international tax matters. Before joining Morgan Lewis, Rich was an assistant branch chief in the Internal Revenue Service (IRS) Office of Chief Counsel, Financial Institutions and Products.

report

Private Fund Industry Update: The Key Tax Developments That Shaped 2023

Extended Profile

Rich advises clients on general corporate tax matters, the taxation of financial products, information reporting, digital assets, and international tax planning. He also counsels companies on international tax issues, including compliance with the Foreign Investment in Real Property Tax Act (FIRPTA).

Rich frequently assists clients in their interactions with the IRS, including obtaining Private Letter Rulings, closing agreements, and other guidance.

A frequent speaker, Rich presents on a variety of tax topics at the American Bar Association’s Tax Section meetings, and for the Federal Bar Association, District of Columbia Bar Association, and the Practicing Law Institute.

Education

The George Washington University Law School, 2005, J.D.
College of William & Mary, 2001, B.A.

Admissions

District of Columbia
New York
US Tax Court

Awards and Affiliations

Member, Best ETF Law Firm, ETF Express US Awards (2021, 2022)

Member, ETF Law Firm of the Year, ETF.com (2019)

Member, Best ETF Legal & Compliance Firm, ETF Express (2019)

Member, Practice Group of the Year, Tax, Law360 (2017)

Former Chair, American Bar Association, Section of Taxation, Investment Management Committee