Tax

Bottom Line Impact

Contact:

Cory G. Jacobs


Every organization, no matter its size, industry, or status, faces the challenge of complying with the constantly changing landscape of tax laws while trying to keep its tax bills within reason. Blank Rome attorneys look at tax laws for strategies that have an impact on the bottom line for businesses and individuals.

Blank Rome’s tax attorneys have particular experience in handling tax planning for a wide variety of sophisticated transactions and other tax matters having federal, state and local, and foreign tax implications.  Our clients range from individuals and closely held companies to multinational corporations. The unique combination of governmental, financial, and legal experience of our tax attorneys enables us to deliver timely, practical, and careful tax advice.

Our role as tax advisers is to deliver value to our clients. We fulfill this goal by applying a few simple principles:  We understand our clients’ business goals and objectives—tax and non-tax. We communicate frequently and openly with clients. We use a common sense approach—whether in crafting a solution to a complex tax issue, presenting an argument to a tribunal, or agreeing to a fee arrangement. And finally, we are pragmatic—our goal is to deliver significant value to our clients in a cost-effective manner.

Blank Rome’s tax practice draws upon leading tax attorneys as well as former government officials who have strategic relationships within Congress and at key agencies.

The tax practice works in tandem with Blank Rome Government Relations, an affiliate of Blank Rome, comprised of legal, policy, lobbying, and strategic communications professionals. Blank Rome represents businesses before the U.S. Congress on corporate tax matters pending before the Senate Finance and House Ways and Means Committees. We frequently represent clients in rule-making proceedings and shape and advance tax policy objectives before the U.S. Treasury Department, including the Internal Revenue Service.

Our tax attorneys have extensive experience with the tax ramifications relating to:

  • Corporations, partnerships, limited liability companies, and joint venture arrangements (including exempt organizations/for-profits)
  • Taxable and tax-free reorganizations, liquidations, mergers, and acquisitions
  • Taxation of private investment funds and mutual funds
  • Federal, state, and local civil and criminal tax controversies, including audits, administrative appeals, and litigation
  • Taxation of real estate transactions, including Real Estate Investment Trusts (REITS), New Market tax credits, real estate funds and joint ventures, and other sophisticated real estate transactions.
  • Executive compensation arrangements, including stock options and other stock-based plans
  • Taxation of financial instruments and products
  • Taxation of banks, financial institutions, and other regulated companies  
  • Structure and taxation of tax-exempt and philanthropic organizations
  • IRS tax controversy involving tax-exempt organizations
  • Strategic state and local tax-saving opportunities
  • Debt workouts
  • Tax shelters
  • Preparation of legal opinions and requests for letter rulings from the Internal Revenue Service and other governmental authorities
  • Tax consequences regarding matrimonial matters
  • Tax issues related to maritime matters
  • Income taxation of trusts and estates and income tax aspects of estate planning
  • Charitable giving

Our tax attorneys also provide counsel on foreign tax matters, including structuring inbound and outbound investments, branch profits tax, transfer pricing, interest-stripping, tax withholding, and tax treaties. They also advise on the establishment of foreign entities, including hybrid entities, controlled foreign corporations, and passive foreign investment companies, maximization of foreign tax credits on worldwide income, and tax residency issues.

Select Engagements

  • Strategic tax advice for national energy companies in connection with mergers, acquisitions, and dispositions
  • German software giant, in their strategic acquisition of a provider of third-party maintenance and support services for businesses that use PeopleSoft software
  • NYSE-traded bank in connection with its acquisition of various insurance companies
  • NYSE-traded software company in connection with various strategic acquisitions of businesses
  • Issuers and underwriters in structured finance offerings, such as mortgage-backed securities (including Real Estate Mortgage Investment Conduits [REMICs]), mortgage-backed bonds, credit card securitizations, conduit arrangements, and owner trust financings
  • Counsel on tax strategies and formation of non-profit foundation for NBA athlete
  • State and local tax planning to address changes in the law
  • Representation of a developer/leverage lender in connection with a New Markets Tax Credit Structure involving a portion of the business and a shopping center development
  • Representation and structuring of the first charter high school in New York City using the new market tax credit structure

Experienced Attorneys, Recognized in Their Fields

Members of Blank Rome’s tax group have previously served as CPAs, high-level government officials and as members of “Big Four” national tax practices. Several have also worked for the IRS and the Department of Justice and the Treasury. Our attorneys also serve as adjunct professors in law schools and graduate tax programs.