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Federal tax accounting

Eversheds Sutherland’s federal tax accounting practices represent global and domestic businesses and organizations on a range of issues, from formulating and implementing tax accounting strategies to providing counsel on a wide range of tax accounting matters.

Our team can assist your business with matters regarding the proper tax treatment of costs associated with tangible property (including the identification of units of property, the treatment of repair costs and retirement and cost of removal issues), and intangible property (including acquisition costs, termination payments and recovery). We also focus on corporate transaction costs, depreciable lives and methods, capitalization issues, inventory, advance payments, customer deposits, gift cards, bonus payments, pensions and other post-employment benefits (OPEB), economic performance, mark to market, manufacturers’ deduction, worthless stock deduction, environmental remediation and decommissioning costs.

Whatever your needs and wherever you operate, our lawyers are on hand to help you achieve your goals.

Experienced federal tax accounting lawyers

Eversheds Sutherland provides representation before the Internal Revenue Service to obtain private letter rulings and defend against technical advice. We also act in controversy matters before the Examination and Appeals divisions, and ultimately, in litigation before the federal and tax courts. Our federal tax accounting lawyers can further assist you in changing methods of accounting, preparing claims for refund, preparing and reviewing studies supporting tax return positions, claims and tax provision analyses.

Our recent experience includes:

  • advising on tax treatment and subsequent IRS exam representation involving $150 million in corporate transaction costs in one of 2016’s largest merger transactions
  • securing favorable private letter rulings regarding bonus depreciation for a global financial services company
  • preparing and securing approval for a $400 million informal claim
  • accounting-method-change counseling and filing of related Form 3115s, with respect to tangible property and fixed assets, inventory, advance payments, bonus payments, pensions, bad debts and non-accrual experience methods
  • representation in IRS exams regarding deductibility of corporate termination payments
  • filing private letter rulings and representation regarding treatment of worthless stock deduction

Contact our federal tax accounting team

If you would like any further information or need advice on tax accounting law, please contact our legal team.

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© Eversheds Sutherland 2023. All rights reserved. Eversheds Sutherland is a global provider of legal and other services operating through various separate and distinct legal entities.

Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client.