Lawrence M. Axelrod graduated from Stuyvesant High School in New York City and attended the State University of New York at Stony Brook from 1967 through 1971. After waiting tables during a year's respite from academia, he enrolled in the University of Southern California Law Center. Upon graduation, he joined the tax department of a large accounting firm.

In 1977, following a year and a half of tax practice with emphasis in estate planning, Mr. Axelrod went to work for the Office of Chief Counsel, Legislation and Regulations Division, of the IRS in Washington, DC. In light of his estate planning experience, the IRS assigned him to the Corporate Branch where he drafted regulations on investment credit for movies and bad-debt deductions for thrifts, in addition to regulations on consolidated returns. The Tax Court declared his regulations under section 593 invalid on three occasions and three times was reversed. During his tenure at the IRS, he received an MLT degree from Georgetown University Law Center.

In 1981, having served his commitment with the Service, Mr. Axelrod joined the Washington Service Center of Touche Ross. In 1985, he was admitted to the partnership.

For 20 years he conducted a two-day consolidated return seminar for public participants. Beginning in 2007, he assumed responsibility for updating and rewriting portions of this treatise. From 1987 to 1988, he was chairman of the ABA Tax Section Committee on Affiliated and Related Corporations. He is the author of numerous articles on consolidated return issues, including The Supreme Court, Consolidated Returns, and 10-Year Carrybacks, which was cited in Justice Souter's 2001 opinion in United Dominion Industries, Inc. Additionally, his article on consolidated AMT was cited in Judge Cohen's opinion for the Tax Court in State Farm Insurance Co. v. Commissioner. His 1997 article, "Are Consolidated Returns Obsolete", exploring the differences and similarities between a single-member LLC and a subsidiary in a consolidated group, was among the articles selected for republication by Tax Notes in 2012 to commemorate the magazine's 40th anniversary.

In May 2008, Mr. Axelrod retired from Deloitte Tax. After eight months, however, he returned to the IRS as Special Counsel to the Associate Chief Counsel (Corporate). (Bio entered 2-18-15)

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Consolidated Tax Returns 4th Edition Statutes and Regulations, 2025 ed.

Consolidated Tax Returns 4th Edition Statutes and Regulations, 2025 ed.