Miller & Chevalier taps Ernst & Young Tax Principal

Miller & Chevalier Chartered has announced that Stephen F. Gertzman has joined the Tax Department as a Member. He comes to the firm from Ernst & Young LLP, where he was a Principal and had served as its National Director of Federal Tax Accounting and Director of the Accounting Methods and Inventories Group in Ernst & Young’s National Tax Department.

Gertzman is widely recognized as one of the nation’s preeminent lawyers in the area of tax accounting, and his treatise, Federal Tax Accounting, is considered the leading authority on the topic. He has advised clients on the full scope of tax accounting issues and his industry experience covers virtually every major sector of the economy. His advice has often been sought by the U.S. Department of the Treasury and the Internal Revenue Service (IRS), and his writings have been cited in a number of court decisions.

“We are so delighted to welcome Steve to Miller & Chevalier,” said Marianna Dyson, Chair of Miller & Chevalier. “He brings an absolute wealth of knowledge and instant credibility in the area of tax accounting.”

“In addition to Steve’s recognized experience in tax accounting and his reputation for achieving extraordinary results for his clients, he has a reputation for great integrity in his dealings with the IRS and clients,” said Patricia Sweeney, Chair of Miller & Chevalier’s Tax Department. “The addition of such a preeminent legal authority strengthens and deepens our existing tax accounting capabilities and provides clients with an incredible level of knowledge, experience and value. Miller & Chevalier is extremely well positioned to advise clients in the current environment.”

Congress remains focused on identifying new sources of tax revenue, placing the IRS under ever-increasing pressure to close the “tax gap.” At the same time, the IRS is shifting much of its own investigative role to taxpayers themselves, putting unprecedented emphasis on transparency and disclosure. Pressure from other sources, including FIN 48, adds to the increasing stresses faced by corporate tax departments to “get it right.”

In this environment, however, getting it right is not always enough. By centralizing issue management, the IRS has changed dramatically the traditional dynamic encountered by taxpayers in defending their tax positions. This new landscape is particularly acute in the tax accounting area. Many of the issues identified by the IRS as raising the highest compliance concerns — and most likely to attract scrutiny on audit — are tax accounting issues. This heightens considerably the pressure on businesses in preparing, and equally importantly in defending, their tax accounting positions.