Tax Controversy Partner Discusses Dispute Resolution in Financier Worldwide Special Report

Tax controversy partner Kat Saunders Gregor (Boston) is featured in a special report on litigation and alternative dispute resolution published by Financier Worldwide in November. In a Q&A on resolving tax disputes, Ms. Gregor discusses the current tax regulatory environment, including a reallocation of resources by the Internal Revenue Service that has resulted in increased scrutiny of industries like life sciences and technology despite overall examinations trending down.

Ms. Gregor urges firms to keep a “close eye on enterprise and reputational risk” when faced with an audit, and to bring in counsel early in the process before matters turn public or acrimonious. She suggests that beyond the Fast-Track Settlement process available through the IRS, other alternative dispute resolution methods are gaining in popularity, including the international use of mediation and arbitration forums, as firms work to resolve tax disputes more efficiently.  Ms. Gregor explains that internal tax teams would be well served to assume the potential for public disclosure of information early on, and to consider this throughout their tax planning and compliance process, especially with respect to documentation.

Watch this video to see Ms. Gregor discuss recent IRS developments, including the use of pre-trial discovery tactics and increased enforcement in the private equity and hedge funds industries.