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Tax Accounting

Location:
United States
Salary:
110000
Posted:
April 09, 2018

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Resume:

NEW YORK CITY, NEW YORK

212-***-**** ac4218@r.postjobfree.com

LICENSES:

Attorney – Counsellor-at-Law

New York

In Good Standing Through 6/16/2018

CPA – Certified Public Accountant

Maryland

Active Status Through 8/18/2018

EDUCATION:

JD

1997

Law/Jurisprudence

Brooklyn Law School

Brooklyn, NY

MBA

1992

Finance/Accounting

Fordham University

Lincoln Center, NYC

BA

1979

Fine Arts - Magna Cum Laude

University of Maryland

College Park, Maryland

CONFERENCES & PUBLICATIONS: (Google-search “Albert Gavalis” for the below links, and others)

AVVO Legal-Review Guides on Tax and various other topics - Albert Gavalis’s AVVO Guides 2010 - current

Financial Accounting Standards Board (FASB), Norwalk, CT – FASB Comment Letter #35 ISSUE-E23 9/2007

American Enterprise Institute (AEI) Washington, DC - Do We Understand Fannie Mae’s Accounting? 4/2004

Securities Exchange Commission (SEC) Hedge Fund Roundtable Conference, Wash., DC - available on request 5/2003

BNA Tax Advisory Board 2008 – 2016

Maintained Continuing Legal Education (CLE)/Continuing Professional Education (CPE) credits in the area of tax as an Advisory Board attendee/participant at BNA Tax Management® at their monthly meetings in New York City covering areas in Corporate Taxation, International Taxation & Transfer Pricing, Estates, Gifts & Trusts, U.S. Income, including issues in FATCA (and CDOT and other jurisdictions), Real Estate, etc.- http://www.bna.com/advisory-board-meetings-e8589935158/

GENERAL TAX WORK EXPERIENCE:

Prepared corporate, partnership, high net worth individual, fiduciary, and tax-exempt entity tax returns.

Identified and implemented tax planning opportunities.

Managed tax staff and outside tax consultants and advisors in the preparation of US and International Returns.

Ensured compliance with applicable generally accepted accounting principles when accounting for income taxes FAS 109/FIN 48 (ASC 740-10)

Monitored legislative changes in US and foreign tax laws that impacted the company's tax positions, including tax accounting implications.

Oversaw special projects as required (E&P studies, transfer pricing, R&D studies, etc.)

Monitored company's transfer pricing policies and related documentation.

Liaised with company's foreign operations on tax matters related to their operations (income tax, VAT, withholding tax, etc.)

Conducted extensive communication with company leadership across business functions (Accounting, Legal, Treasury, Commercial, Operations)

Provided tax advice on international projects including the impact on Permanent Establishments, VAT/GST and Withholding Taxes.

Supported M&A Activities, including tax due diligence on acquisitions and divestitures, structuring of purchase and sale transactions, tax-related integration/separation activities.

Reviewed and monitored establishment of state nexus.

Managed federal, state and local income/franchise tax audits.

Maintained compliance with SOX policies and procedures Indirect responsibilities for sales & use tax, payroll tax, etc.

Performed/attended Continuing Professional/Legal Education (CPE/CLE) on regulations and changes to Internal Revenue Code, U.S. Treasury regulations, intergovernmental agreements, and Cayman guidance notes to ensure compliance in an ever evolving environment with respect to FATCA (and CDOT, and other jurisdictions).

Researched tax issues pertaining to W-form validation and due diligence standards under IRS regulations, IGAs, FATCA, and CDOT as needed.

Proficiency in ProSystem Tax, FastTax/Go-Systems, Corptax, WestlawNext, BNA, RIA, and others.

Forms 926, 1042, 1116, 1118, 5471, 8621, 8858, 8865, and others including FATCA and F-BAR forms

TAX WORK EXPERIENCE (HISTORICAL - Seasonal, contracting, and other)

AlphaSights, GLG Group, Guidepoint Global, KBTF LLP, Update Legal, and others 5/2014 – Current

Independent Contractor – Contract Attorney

Advisor-attorney in complex commercial and civil litigation document review, privilege review, and other confidential-review matters. Reviewed matter in large-scale bankruptcy concerning private equity investment and related-party liability including extensive email database of investment banking decision-making process, road-show deal-sheets, attorney-communications, etc. including FATCA, CDOT and other jurisdictional tax elements.

TechFinanceCFO (Independent Contractor at Firm), Scarsdale, NY 4/2015

Seasonal Tax Accountant

Reviewed draft tax returns for business and partnership allocation issues to high net worth clients. Provided data-entry for partnership reallocation, and reviewed Balance Sheet, Income Statement, Cash Flow accounting issues for start-ups. Minor US Income issues covering FATCA (and CDOT) issues in foreign jurisdictions (along with FBAR reporting as well).

Federal Deposit Insurance Corporation (FDIC), (Federal Gov’t Employee)

East Coast Temporary Satellite Office (ECTSO), Jacksonville, FL

12/2010 – 4/2014

Resolutions & Receiverships Specialist, Division of Resolutions & Receiverships (DRR)

Procured $50 Billion in loss share payments of 100+ failed-banks to 250+ acquiring institutions.

Ensured income tax balances were correctly reflected in the general ledger and financial statements, including current and deferred tax accruals, payments, transfers and related currency management.

Liaised with corporate group to ensure information supplied to Corporate Tax for tax return purposes was correct, controlled, and subject to a high level of review and analysis.

Ensured data provided to Corporate Tax was consistent across the various global departments, and summarized data where necessary, including FBAR, FATCA and other foreign accounts-analysis.

Facilitated change and improvement in the flow of data to and from Corporate Tax including Corptax Form 1118.

Familiarity with the development of many types of real estate projects, including hotel, shopping center, residential and industrial properties and familiarity with the development process, including the methods for securing the site, due diligence, purchasing of air-rights, securing various entitlements, and financing the project.

Familiarity with the creation and operation of residential, commercial and mixed use condominiums and planned unit developments.

Experience in drafting and negotiating commonly used agreements, such as development agreements, zoning lot development agreements, programmatic joint venture agreements, and sales and marketing agreements.

Familiarity with a variety of real estate practice areas, including tax-lien foreclosures, and courthouse steps title-transfers.

Familiarity with forming and using REITs in commercial real estate transactions, including an understanding of the various types of REITs and asset classes.

Experience drafting and negotiating REIT formation documents.

An understanding of the tax implications on investors in a REIT and REIT requirements under the U.S. Tax Code.

Summit Resources (Agency) at Forbes Media, LLC (Financial Media Firm) 3/2009 – 3/2009

Agency-Contracted CPA – Seasonal-Assistance Tax Accountant

Individual IRS Form 1040 return-section of extensive Schedule C, Schedule D and separate Trust/Estate IRS Form 1041.

AGA Legal (Agency) at Arkin Kaplan Rice LLP (Litigation Boutique Law Firm) 5/2008 – 8/2008

Attorney/CPA Document Reviewer – Reviewed tax, finance, and corporate related issues in oil and gas-drilling/investment partnerships complex specialty-litigation. Reviewed agreements, draft agreements, revenues and expenses, title and ownership consents, collateral security interests, partnership agreement cash-calls, joint-operating agreements, and related e-mails on billings and expenditures. Overlapping issues in tax include review of IRS Form 1065 Partnership tax-returns, K-1 flow-throughs from other partnerships, and related input entry items as compared to original source-documents verifying accuracy, clarity and viability.

Hamilton & MacAvery, CPA’s, (Independent Contractor directly at CPA Firm) 1/2008 – 4/2008

Tax Accountant Compiled, composed, and completed complex Individual 1040 returns, Trust & Estates 1041 (and 706), Partnership 1065 returns – with Forms 926, 1042, 1116, 1118, 5471, 8621, 8858, 8865, of Passive Foreign Investment Companies (PFICs), and Corporation 1120 (including 1120S) returns. Subpart F income, Foreign Tax Credit, Section 78 Gross-up, Section 905(c) adjustments, Notices and Elections for Sections 304 and 338, FBAR, FATCA, CDOT and other foreign-jurisdiction filings. Appropriated, allocated, and added K-1 pass-through aspects from partnership and S-Corp returns into individual taxpayer returns. Reviewed and compiled original partnership returns to verify K-1 flow-throughs to the individual returns. Backed out mutual fund state deductions and created spreadsheets, when needed, for gains and losses from stock market trades. Determined “client-graduation” from 1040 Schedule-C to separate LLP, LLC, or S-Corp status. Created separate spreadsheets for extensive Schedule-D capital-gain/loss brokerage securities transactions and Schedule-E Real Estate, royalties and REIT/REMIC related passive and non-passive income/loss. Prepared trial balances from client records and advanced figures to 1065 Schedules K, L, M-1, 2, & 3 (including M-3 reconciliations). Utilized FAST-TAX, CCH Pro-Fx, and BNA Research. Investment advisory capacity included sourcing and monitoring investment managers from prior securities-firms and brokers. Created FAS 109/FIN 48 (ASC 740) worksheets for SEC 10-K Tax Note filing. Reviewed depreciation and determined whether to also apply restoration charges, losses on disposals, and leasehold improvements. Accounted for state-based residual profit split (RPS) cash-flows as compared to national-level accountings. Reviewed Excel and SAP-style database files for work-paper preparations.

Rem-X Financial (Agency) at Geller & Co. (Accounting Firm) for Bloomberg LP (Client), NYC 1/2007 – 3/2007

Agency-Contracted CPA/Accountant - Created FAS 109 worksheets for international tax calculations of US and host country returns - ranging from Southeast Asia and Australia, through Latin America and Europe. Utilized the Residual Profit Split (RPS) transfer-pricing method to determine host-country’s tax as based on USA primary-source operations. Reviewed fixed-asset schedules and related depreciation and determined whether to also apply restoration charges, losses on disposals, and leasehold improvements. Accounted for Earned Equity Conversions (EEC) – as a foreign entity form of shareholder equity. Researched extensive deep-database SAP (US) cash-flows as compared to foreign entity accountings. Applied foreign SFAS 52 foreign exchange and currency conversions via Bloomberg monthly and yearly averages.

-Provided comprehensive tax-accounting of 250+ consolidated entities globally for FAS 109 and FIN 48 (ASC 740) adj.

-Prepared entries for eliminations and minority interest in subsidiaries including real estate based overhead adjustments.

-Provided a work-paper-based audit trail for statutory tax-to-GAAP reconciliation – including SAP estimates/actuals.

-Provided a work-paper-based audit trail for GAAP-to-Tax adjustments – provided differentials in differences.

-Prepared consolidated financial statements for tax reporting via SEC accrual-reporting to Tax-cash basis.

Graf Repetti & Co., LLP (Employee at CPA Firm), NYC 5/2006 – 9/2006

Tax Attorney - Performed various tax-attorney and tax accounting functions. Answered IRS Notices of Deficiency for individuals, partnerships, and corporations. Performed withdrawals of corporation state franchise-tax-status. Researched tax-issues ranging from FBAR, FATCA, CDOT to chain-link increment indexing in a LIFO inventory environment to applications of other recent tax court rulings. Google-search “Albert Gavalis” for related tax-publications – including tax-section review of Professor John D. Finnerty’s Project Financing: Asset-Based Financial Engineering.

Advice (Agency) at Montrose Accounting & Advisors (Accounting Firm), NYC 3/2006

Agency-Contracted CPA - High net-worth individuals and related investment accounting tax returns including 1120 Corporations, 1065 Partnerships. 1041 Fiduciaries, and 1040 Individuals returns along with all related Schedules A - K, L, M-1, M-2 via ProFX (CCH) “paperless” work-paper-processing.

AccountPros (Agency) at Rockefeller & Co., Inc. (Company), NYC 3/2005

Agency-Contracted CPA/Accountant - Compiled complex 1065 partnership tax returns by reviewing and advancing trial balance figures to 1065 Schedules K, L, M via Go-System.

DeNovo Legal (Agency) at Sullivan & Cromwell LLP (Law Firm), NYC 10/2003

Temporary JD Document Reviewer – Performed defense litigation review of client enmeshed in various tax-avoidance-strategies as solicited by other law and accounting firms. Review included Bond Option Structure Strategy (BOSS), Foreign Limited Investment Partnerships (FLIPS), Collateralized Debt Securities (CDSs), Aircraft Leasing, Market Leveraged Debt (MLDs), Original Issue Discounts (OIDs), and other U.S. based and Foreign-based tax-shelter strategies utilizing Bermuda, Cayman Island, Virgin Islands, and other off-shore LLP, LLC, and S-Corp formations and filings. Review included major financial institution’s overall sales and solicitation strategy, its relationship with intertwined accounting and legal entities’ opinions, as well as review of individual tax returns and estate planning strategies.

David Berdon & Co., CPAs, NYC 2/2001-4/2001

Shapiro & Lobel, CPAs, NYC, Imowitz & Koenig, CPAs, NYC 2/2000-4/2000

Agency-Contracted CPA - Tax Accountant – 1040, 1120, 1065 Scheds. K, L, M-1, M-2, M3 via Fast-Tax/Go-System

Compiled, composed, and completed complex 1040, 1041 (and 706), 1065, and 1120 tax returns for individuals, estates and fiduciaries, partnerships, and corporations. Appropriated, allocated, and added K-1 pass-through aspects from partnership and S-Corp returns into individual taxpayer returns. Backed-out mutual fund state deductions and created spreadsheets, when needed, for gains and losses from stock market trades. Prepared trial balances from client records and applied to tax returns.

Kinsey, Beck & Company, CPAs, NYC

4/1999 – 9/1999

Real Estate, Fund, and Tax Accountant

Performed audits, compilations, lease reviews, and other forms of due diligence in the purchase, sale, and accounting maintenance of real estate properties, Real Estate Investment Trusts (REITs) and Real Estate Mortgage Investment Conduits (REMICs). Performed ongoing monthly audit procedures of rotation-shift selected properties in a $3/4 Billion real estate portfolio-fund. Created special project spreadsheets for the fund in regards to unrelated business income tax (UBIT), tax projections, capital expenditures, internal rate of return (IRR) calculations, and other as-needed assignments. Completed tax returns for S-Corps, LLCs and partnerships with forms 1120S and 1065 via FASTTAX. Further appropriated K-1 elements to individual 1040 returns. Prepared trial balances from client records and advanced figures to tax return based financial statements. Familiarity with a variety of real estate practice areas. Familiarity with forming and using REITs in commercial real estate transactions, including an understanding of the various types of REITs and asset classes. Experience drafting and negotiating REIT formation documents. An understanding of the tax implications on investors in a REIT and REIT requirements under the U.S. Tax Code.

RIA Group – Legal Tax Publishers, NYC

11/1997 – 2/1998

Agency-Contracted/Federal Tax Editor’s Associate

Edited and updated product reference base to Internal Revenue Code (IRC or Code), IRS Code-based Regulations (Regs.), IRS Revenue Procedures (Rev. Procs.), IRS Publications (Pubs.), and standard IRS tax return forms. Performed both legal and accounting based analysis in cross-referencing IRS tax forms to the Code and Regs. Utilized Internet to access IRS.gov.

Internal Revenue Service – Manhattan District Counsel, NYC

8/1996 – 11/1996

Legal Intern – Federal Tax Litigation

Performed first level review of cases to come before the U.S. Tax Court. Performed legal research for IRS attorneys on issues such as equitable recoupment in the TEFRA context, finding Congressional intent in statute formation, and directive language content in real estate lease reviews. Familiarity with a variety of real estate practice areas. Familiarity with forming and using REITs in commercial real estate transactions, including an understanding of the various types of REITs and asset classes. Experience drafting and negotiating REIT formation documents. An understanding of the tax implications on investors in a REIT and REIT requirements under the U.S. Tax Code.



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