Treasury Department Official Rejoins Fulbright

Business Wire, Oct 6, 2008

DALLAS -- After two years as senior counsel in the Treasury Department's Office of Tax Policy, Bill Bowers has rejoined Fulbright & Jaworski L.L.P. as a partner.

"Fulbright was a perfect fit for me before I left for the Treasury Department two years ago, and my experience at the Treasury will make it an even better fit now," Bowers said. "I look forward to rejoining an impressive team that puts the focus where it belongs - on serving the client. Fulbright lawyers are dedicated professionals who have a long history of government service dating all the way back to the firm's founders."

In the Office of Tax Policy, Bowers was responsible for the development of administrative guidance and legislative initiatives for pass-through entities. In particular, he played an important role in formulating the Administration's response to proposed legislation regarding the taxation of carried interests and the treatment of publicly traded hedge funds and private equity funds as corporations. Bowers worked closely with the IRS to develop administrative guidance in the area of non-compensatory options, compensatory options, debt-for-equity exchanges, varying interests rules and the application of the mixing bowl rules to partnership mergers.

"I'm humbled to have had the privilege - even if just for a few years - to work in the Office of Tax Policy," Bowers said. "To be part of government and work with the outstanding professionals in the Office of Tax Policy, the Chief Counsel's Office in the IRS and the Congressional tax writing staff is something I will always remember."

Before joining the Treasury Department in September 2006, Bowers concentrated on federal income tax planning for complex business transactions. He has written and spoken extensively on federal income tax issues and handled matters including: reorganizing a partnership investment in a large real estate portfolio; the merger of publicly traded partnerships; investments in real estate for tax-exempt organizations and corporate taxable and tax-free acquisitions.

Bowers also teaches partnership tax as an adjunct professor at the University of Texas School of Law and at Georgetown University School of Law. He received his law degree from Southern Methodist University and his Masters of Taxation from Georgetown. He has been named one of "The Best Lawyers in America" and among a select group of "Super Lawyers" in tax law.

Jack Allender, the head of Fulbright's tax practice, said Bowers is an outstanding tax lawyer who nicely complements the firm's tax practice. Clients describe Fulbright's tax practice as having "a superb reputation, which has proved to be more than deserved," according to Chambers USA.

"We greatly missed Bill while he was away, but know the experience he gained while working within the Treasury Department will benefit our clients and our team," Allender said. "Opportunities at this level in the government are rare and we know Bill has gained a great deal from his time within the Treasury. We are excited to welcome him back at a time when we are seeing increased activity in Congress and the IRS on new tax initiatives."

The head of Fulbright's Dallas office, Kenneth Stewart, said Bowers' experience at the Treasury enhances the sophisticated advice he has provided to clients for more than three decades on a wide variety of tax-related issues.

"Bill knows the law and the issues companies face," Stewart said. "His perspective and experience are appreciated in all corners."

Fulbright & Jaworski L.L.P.

Founded in 1919, Fulbright & Jaworski L.L.P. is a leading full-service international law firm, with nearly 1,000 lawyers in 16 locations in Austin, Beijing, Dallas, Denver, Dubai, Hong Kong, Houston, London, Los Angeles, Minneapolis, Munich, New York, Riyadh, San Antonio, St. Louis and Washington, D.C. Fulbright provides a full range of legal services to clients worldwide.

The 2007 BTI survey of FORTUNE 1000 general counsel chose Fulbright as "The BTI Client Service 30" A-Team and Corporate Board Member magazine named Fulbright among the top 20 corporate law firms in the U.S. in their survey of board members of public companies. For more information, please visit: www.fulbright.com.