Our pension specialists follow a focused approach to handling audits of employee benefit plans and providing related tax and consulting services. The firm serves a continuum of plans – defined benefit, defined contribution, Employee Stock Ownership Plans (ESOP), health and welfare.

Services include full-scope audits of financial statements, Department of Labor limited-scope audits, initial plan year audits, Form 5500 preparation and related tax filing. The firm also consults with clients on such subjects as benefit optimization and plan design and implementation.

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Marks Paneth & Shron (MP&S) has a broad range of securities and class action experience. We have served as consulting and testifying experts in seven of the ten largest class action settlements, as well as in cases involving disputes among family members, business owners and individuals and their employers.

Litigators draw on our expertise in accounting, auditing, regulatory and financial reporting matters; we act as testifying and consulting experts in cases involving fraudulent financial reporting matters in connection with class action securities fraud, accounting malpractice and post-acquisition disputes. MP&S provides consulting services throughout the life cycle of a case — from pre-discovery, discovery and settlement analysis to trial preparation.

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Some of the most complex and challenging litigation today involves intellectual property issues related to patents, trademarks and copyrights. This means that comprehensive economic analysis relating to intellectual property is more important than ever.

With a team of more than 25 professionals who offer litigation and corporate financial advisory services, Marks Paneth & Shron (MP&S) offers comprehensive, cost-effective and accurate intellectual property services and analysis. In doing so, we draw on the experience we have gained from working on cases involving infringement of trademarks, patents and copyrights, as well as misappropriation of trade secrets. MP&S helps analyze and assess: lost profit; lost value and royalty; value intellectual property; provides expert testimony at deposition and trial, and trains and educates management, Boards of Directors and Audit Committees on intellectual property topics.

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Marks Paneth & Shron (MP&S) professionals have extensive financial, investigative and operational experience. We provide a variety of civil and criminal fraud investigation, prevention and forensic accounting services to for-profit clients and nonprofit clients.

Fraud examinations consist of highly complex procedures designed to either detect or prevent fraudulent conduct. Accordingly, MP&S applies state-of-the-art procedures and methodologies to every engagement involving financial fraud, theft and embezzlement, errors and irregularities and other accounting misconduct. Services include: comprehensive corporate fraud investigations; investor securities fraud investigations and analysis; analysis of financial institution fraud; bankruptcy fraud investigations; health care fraud and abuse evaluation; insurance fraud detection; fraud prevention and internal audit consulting, as well as comprehensive training and education.

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Financial reporting is becoming evermore complicated and burdensome for management, Audit Committees and Boards of Directors. In a time when independent auditors are increasingly wary of advising their clients on financial accounting and Securities and Exchange Commission (SEC) reporting matters, management may find that it does not have sufficient resources to resolve all of the issues. The experienced corporate financial advisory services professionals at Marks Paneth & Shron (MP&S) can provide the necessary independent financial reporting solutions.

Complex accounting rules and transactions are a way of life in today’s complicated business environment. MP&S regularly assists corporations, Audit Committees, analysts and law firms in applying accounting principles and SEC regulations to a wide array of transactions.

MP&S offers accounting advisory, SEC reporting advisory, mergers and acquisitions advisory, litigation support, dispute resolution and valuations for financial reporting services as well as comprehensive training and education.

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Access to capital is a strategic consideration for any company, whether through a private placement, initial public offering or a secondary offering. Drawing on our deep experience with the SEC and NASDAQ, Marks Paneth & Shron (MP&S) helps our clients determine which option is best, and then works with the client to navigate the complexities of registration with the SEC as required. We can assist in the evaluation of alternative investment markets, including private placements, and advice on financial market listings, requirements and corporate governance issues.

Our litigation and corporate financial advisory services professionals also assist companies that are transitioning from International Financial Reporting Standards (IFRS) to U.S. Generally Accepted Accounting Principles (GAAP). In addition, our firm helps in the registration process: we review financial statements, provide attest services, respond to SEC comment letters, offer technical resources for meetings with the SEC, advise on IPOs and assist with compiling the necessary financial documentation.

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Maintaining effective internal controls over financial reporting is an increasingly complex part of maintaining a healthy business. And putting these controls in place can be an arduous, time-consuming process.

Based on deep experience helping companies with internal control documentation, testing and assessment, Marks Paneth & Shron (MP&S) is committed to helping its clients meet regulatory requirements cost effectively. MP&S uses a top-down, risk-based methodology that identifies key controls, utilizes effective testing processes and reduces costs. Services in this area include: internal control studies; assessments and processes; support for internal audits; the implementation and maintenance of Sarbanes-Oxley compliance.

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Business appraisals are required for many reasons, including mergers, acquisitions, divestitures, estate planning, etc. Marks Paneth & Shron is a leading provider of business valuation services to a broad range and size of industries.

Key Services Offered:

• Evaluation of all Business Holdings for use in Financing, IPOs, ESOP Planning, Buy/Sell Agreements, GAAP Compliance, etc.
• Evaluation/Appraisal Based on Asset, Income, and Market Values of the Business
• Determination of Fair Values for "Goodwill" Expenditures and Reporting Units
• Varied Appraisal Options Determined by Client Needs and Requirements
• Varied Reporting Techniques Designed to Meet Client Requirements
• Restructuring of Business Appraisal Formulas
• Auditing and Accounting Services

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Whether for investment or personal use, foreign investors in United States real estate face a number of income, estate and transfer tax concerns. The Foreign Investment in Real Property Tax Act (FIRPTA) subjects gains from the disposition of U.S. real estate to income tax and imposes intricate and onerous withholding procedures designed to enforce the FIRPTA income tax. Absent proper structuring, the after-tax rates of return and investor risk premiums of U.S. real estate investments can be significantly reduced.

Marks Paneth & Shron LLP specializes in advising foreign investors on all tax and practical aspects of foreign real estate investment and tax compliance. Our specialists tailor real estate investment structures to obtain client objectives, tax and otherwise. These structures minimize, and sometimes even eliminate, the income and estate tax liabilities associated with U.S. real estate investment.

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High net worth individuals, international fund managers, attorneys and accountants all turn to Marks Paneth & Shron LLP for planning and compliance advice relating to investments in Passive Foreign Investment Companies (PFICs). Through the use of our proprietary planning and compliance tools and specialized expertise, we are able to minimize the tax implications of existing PFIC structures, establish PFIC structures to achieve tax deferral and minimization objectives and ensure that the complex information reporting and tax computation requirements are fully complied with.

In addition to our standard planning and compliance services, we have developed specialized structures, investment vehicles and solutions that utilize PFICs as a planning vehicle. Our solutions are not based on simple rules of thumb or the indiscriminate use of available elections. Rather, through the use of complex, proprietary tax mathematical models, coordinated with financial models, we are able in many circumstances to enhance after-tax investment yields.

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Foreign investors with limited ties to the United States often find the administration of investments, assets and other interests in the U.S. burdensome. Logistical, communication oversight and other challenges are common. Prominent international families and business owners turn to Marks Paneth & Shron (MP&S) as a cost-effective way to administer their U.S. affairs. Our ability to provide around-the-clock attention to their interests eases intrusion, provides peace of mind, maximizes opportunities and avoids missed deadlines, all without significant overhead costs.

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United States beneficiaries of foreign estates and trusts are subject to special, complex tax rules and information reporting obligations. The tax treatment of income and corpus can vary significantly depending upon the nature of the income and the timing of income recognition and distributions.

Marks Paneth & Shron (MP&S) has specialized expertise in assisting executors, trustees, beneficiaries and their advisers in maximizing the after-tax income of such structures and in meeting all required compliance obligations. We have developed proprietary models to analyze the interplay between all types of investments and the relevant tax rules. In many circumstances, U.S. beneficiaries can defer, reduce and even eliminate the United States income tax imposed on income and distributions derived from foreign states and trusts.

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Recent private letter and revenue rulings by the IRS have had a decided impact on investor control that is controlled by a policyholder over the investments supporting his or her private placement life insurance policy.

Not only did recent rulings amend the diversification regulations by deleting nonregistered partnership exceptions, directly impacting both PPLI and OPPLI policies, but the IRS also issued a trilogy of private letter rulings that both affected and provided safe harbors for variable life insurance contract holders that choose to invest in certain mutual funds investments ("insurance-friendly" hedge funds).

Marks Paneth & Shron LLP is intimately familiar with the statutory and regulatory requirements necessary to obtain favorable tax benefits of PPLI and OPPLI policies as well as the myriad rules governing the status of the arrangement for tax purposes of "life insurance" and the complex "diversification requirements" and "owner control" issues involved.

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Marks Paneth & Shron's (MP&S) concept of "asset protection planning" embodies the reality that estate planning, by its very nature, has always implicitly embodied the asset protection planning exercise: the preservation and transmission of wealth.

Providing executors, trustees, beneficiaries, and advisers the support they need to meet compliance obligations and maximize the after-tax income structures, MP&S can help plan, promote, and implement a comprehensive asset protection strategy to meet the needs of each client.

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The United States taxes income on either of two bases: residence and/or source of income. By choosing from a multitude of entity and structural alternatives, foreign investors can significantly influence the timing and level of taxes payable to the United States. These structures can also satisfy a number of non-tax objectives, including confidentiality, information reporting, business and family concerns, political risks, exchange control laws and operational efficiencies.

Marks Paneth & Shron (MP&S) develops customized structural plans to meet these tax and non-tax goals. Our team of international specialists offers integrated advice on all areas affected by the nature of investments and/or operations. Our intricate knowledge base of the interplay between the laws of onshore/offshore jurisdictions and the U.S. allows us to work quickly, cost-effectively and thoroughly. We address issues and generate solutions that others miss.

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Changes in business, ownership and political circumstances can often necessitate changes in operating structure. Such changes can often trigger significant tax costs, even in circumstances where there is no change in ownership or in the underlying business itself. Failure to make changes often results in tax and operational inefficiency.

MP&S assists businesses in minimizing the global tax costs of changes to their business structures. We generate and implement solutions that ensure predictable tax results. Our experts can guide such companies through the entire process and ensure that changes are made tax efficiently and with minimal interruption to the underlying business.

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Foreign investment of United States persons is subject to a series of complex laws, disclosures and tax filing requirements. While the aim of these rules is to prevent unwarranted income tax deferral or tax avoidance, and to avoid double taxation of the same income, these results are often difficult to achieve.

Marks Paneth & Shron (MP&S) specializes in assisting U.S. investors in simplifying and minimizing the global tax implications of overseas operations. Our close working relationship with professionals around the globe allows us to provide a "one stop shop" in ensuring an orderly and expeditious establishment of overseas operations.

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While the United States generally taxes its citizens in their worldwide income, most other jurisdictions do not, making double taxation a very real possibility. Although the tax treaties the United States has entered into have reduced the potential for double taxation, it remains paramount that taxpayers understand and take advantage of the opportunities such treaties provide them.

As individuals and corporations seek to navigate these treaties, they may turn to Marks Paneth & Shron's (MP&S) specialized experts to help structure overseas assignments, minimize the tax burden experienced by expatriates, and ensure that all global tax filing and reporting requirements are met. Moreover, through our association with JHI, we are able to offer all of our clients with interests overseas a seamless and efficient way of meeting all their global income tax compliance and preparation needs.

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Marks Paneth & Shron's (MP&S) clients considering foreign expansion face complex tax issues. By providing solutions for all of your company's foreign and domestic tax related needs we isolate the relevant factors for the closely held company and direct the planning process to create the best corporate tax environment possible.

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Global integration and new business practices challenge multinational corporations to find innovative pricing solutions. Stricter penalties, new documentation requirements, increased information exchange, improved training and specialization are some of the tools used by tax authorities in this global revenue race.

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Designed to operate at the behest of and for the benefit of a non-insurance parent owner, company or group, the captive structures provide reduced cost coverage, direct access to reinsurers, provision of broad or otherwise unavailable coverage, improved cash flow, and improved risk retention.

While recent IRS rulings have made captive insurance arrangements somewhat trickier, the associated benefits continue to outweigh their negative aspects. Not only can Marks Paneth & Shron (MP&S) determine whether a captive insurance arrangement creates a more tax-efficient economic environment for your corporation, but we can also further assist you in the formation, funding and facilitation of your captive structure.

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Like most foreign income tax treaties, those governing the international shipping and aircraft business are both complex and tedious. While the treaties offer certain benefits and exemptions to U.S. taxpayers, such exemptions may have unfavorable indirect effects. Therefore, it is essential that individuals and corporations understand their environment in order to maximize their tax rate efficiency.

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The United States taxes its citizens on their worldwide income whereas most other jurisdictions do not. As all jurisdictions subject persons working in that country to local income taxation, the competing tax regimes can create the potential for double taxation. The very existence of multiple tax jurisdictions creates mechanisms for avoiding tax through various income tax planning techniques.

Marks Paneth & Shron LLP has specialized experts that can assist in structuring overseas assignments, in minimizing the tax costs of expatriates and in putting the expatriate's mind at ease with the assurance that their global tax responsibilities are being properly addressed in a timely fashion. Our proprietary tools facilitate multi-jurisdictional tax compliance, streamline employee understanding and provide uncompromised confidentiality to both employers and employees, alike.

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International assignments can be costly to employers. Taxation of in-kind benefits and foreign tax rates can significantly increase tax costs, which are customarily borne by employers. These significant costs, and the typical reticence of the employees, due to their lack of understanding of multi-jurisdictional tax issues, make it imperative that an employer design and properly communicate an effective expatriate program.

Marks Paneth & Shron (MP&S) designs and implements expatriate and tax equalization programs tailored to an employer's needs. Through proper communication and understandable illustrations, we allay the expatriate's concerns and ensure that the program is properly understood. This allows the expatriate to concentrate on the performance of their duties, and not the state of their tax affairs.

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