Tax, Tax Controversy & Litigation
When faced with pressing federal, state, and local tax issues, businesses and individuals rely on Burns & Levinson’s tax attorneys to represent them both nationally and internationally. Clients include families, partnerships, corporations, estates and trusts, nonprofit organizations, and governmental entities. Our tax team also represents clients in special areas of ERISA and entertainment law.
Our team partners with tax professionals in the early stages to ensure that potential pitfalls are dealt with before they become problems. That way, we are able to explore all available tax opportunities. We present the client with different options, taking into account tax liability, time and risk. Keeping abreast of the most recent tax law changes that impact clients’ transactions and reporting is vital, and whenever appropriate, we advise our clients and their accountants. Clients rely on us as their advocate to the Internal Revenue Service and state tax authorities in audits and other tax controversies.
There are many tax implications to acquisitions and dispositions, restructuring, and public offerings. We identify ways for our clients to reduce tax risks and costs of everyday operations, and often reduce other costs by changing tax structures. Clients request our guidance on structuring complex real estate ventures and transactions, including tax-free exchanges, installment sales, debt restructurings, and foreclosures. Our transactional practice includes the formation of partnerships as well as nonbusiness entities such as grantor retained interest trusts.
In some cases, there is a highly personal element to our tax practice. Together with Burns & Levinson’s trusts and estates attorneys, we implement sophisticated estate planning techniques for families and individuals who are concerned not only with a significant tax component, but also with property management and other special needs. We develop strategic options to transmit wealth from one generation to another in a tax-efficient manner. We mitigate the tax consequences of catastrophic personal and family events.
Some of our clients are involved in international transactions in Europe, the Pacific Rim and developing nations. We represent foreign individuals with residences and/or interests in the U. S. and abroad, U.S. citizens living abroad or having foreign interests, and foreign corporations.
Executive Compensation and Benefits
The firm counsels executives and organizations in the tax-efficient design of employment agreements, separation arrangements, executive compensation, equity programs, deferred compensation plans, equity options, and retirement plans to meet business, management succession and tax objectives. The firm also has experience and expertise in ERISA issues affecting retirement, health and other benefits.