David Looby assists individuals and privately-held corporate entities in tax, corporate/securities, trusts and estates, probate and general litigation matters. His experience includes general tax planning for corporations, partnerships and individuals; estate planning; local, state and federal taxation; tax structuring of business transactions, tax controversy and litigation, probate administration and guardianship, and federal and state civil litigation.
David has advised clients regarding the best structure in which to hold existing assets, corporate and general business matters, including choice of entity, reorganizations, dissolutions, and the effects of tax planning for limited partnerships, corporations and limited liability companies. He also has extensive experience successfully representing individuals and businesses in audit examinations and tax disputes with the Internal Revenue Service, the Oklahoma Tax Commission, and before the U.S. Tax Court and federal district courts.
David is also well prepared to represent his clients in civil matters, having ample trial experience, including serving as lead trial counsel in federal litigation and arguing before the Tenth Circuit Court of Civil Appeals where he obtained a favorable ruling from the Court creating taxpayer due process protections against Internal Revenue Service overreach with respect to third party summonses.
David also dedicates part of his practice to family wealth and estate planning, including the drafting of wills, trusts, advance directives and durable powers of attorney. His sophisticated repertoire includes the utilization of a number of complex wealth transfer tax planning strategies, such as intentionally defective grantor trusts, irrevocable life insurance trusts and charitable retained annuity trusts. He has also been involved in helping individuals and entities qualify for Oklahoma state tax credits and incentives.
- Jewell v. United States, 749 F.3d 1295 (10th Cir. 2014). Successfully created new law in the Tenth Circuit with respect to IRS third party summonses.
- Miller v. Sulphur Manor, Inc., No. 12-CV-119-KEW, 2013 WL 1337014 (E.D.Okla. 2013). Successfully represented Sulphur against claims of reverse gender discrimination and retaliation.
- Beverly Enterprises-Texas, Inc. v. Devine Convalescent Care Center, Inc., 2012 OK CIV APP 16; 273 P.3d 890. Successfully represented Devine against breach of lease agreement claim.
- Representation of several Oklahoma and Texas nursing homes regarding various issues pertaining to corporate, administrative, regulatory, licensure, tax and litigation matters.
- Representation of small business owners and start-up companies regarding the legal and tax structuring of a new or existing business.
- Representation of individuals and companies before the United States Tax Court and federal district courts regarding redetermination of deficiencies, tax liens and levys, installment agreement and offer in compromise denials, trust fund penalties and abuse of discretion issues pertaining to IRS Appeals Officer conduct.
- Successfully negotiated settlement of $14.2 million employment tax liability matter with the IRS.
- Successfully represented corporation in audit examination against the IRS culminating in allowance of $3.5 million interest and legal expense deduction.
- Successfully eliminated $246,702 employment tax liability imposed upon client by the IRS.
- Successfully reduced an income tax liability of over $105,000 imposed upon client by the IRS to less than $10,000 through Offer in Compromise (Doubt as to Liability).
- Successfully reduced a sales tax liability of over $25,000 imposed upon client by the Oklahoma Tax Commission to less than $500.
- Sales and Use Tax Handbook, Oklahoma Chapter, American Bar Association
Professional, Community and Pro Bono Involvement
Oklahoma Bar Association
Oklahoma County Bar Association
Oklahoma Bar Foundation
- LL.M., Taxation, University of Florida Levin College of Law, 2006
- J.D., University of Tulsa College of Law, 2005
- B.S., Northern Illinois University, 2000
Bar & Court Admissions
- Oklahoma, 2005
- United States Tax Court, 2006
- United States Court of Appeals Tenth Circuit, 2011
- United States Supreme Court, 2014
- Western District of Oklahoma, 2006
- Eastern District of Oklahoma, 2012
- Northern District of Oklahoma, 2016