EFTA02366701.pdf

From: Barry J. Cohen Sent: Wednesday, September 20, 2017 7:38 PM To: Jeffrey E. Cc: Melanie Spinella ); Brad Wechsler Subject: EY audit experie Here is the summary we have on audit experience of o=r EY team. John Cook —= Partner PCS • 2 or 3 High Wealth Audits • Significant number of Federal compliance audits (line by line)4=i> • Federal audits on: • Passive versus active • At-Risk Limitations & basis • Schedule Cs • Charitable contribution and investment interest expense tracing<=li> • Gift tax audits • Significant number of NYS and CT — Statutory residency, domicile and =ncome allocation audits David Kirka; Partner — National Tax PCS • Spends 75-100 hours a year on audits • Most of the matters involve treatment of pass-through items on the 1040s &#=211; passive loss, at-risk, interest tracing and SE tax Elda Di Rea; Partner — National Tax PCS • 5 Global High Wealth Audits • S Gift Tax Audits • 6 Federal compliance audits (audit of each line of return) <=i class="MsoListParagraph" style="color:#1.F497D;margin-left:-15.6pt;ms=-Iist:I1 levell 1102"> Dozens of regular 1040 audits Greg Rosica R=1; Partner Tax Significant experience=representing clients in Federal and state (NY, NJ, CT, GA, CA) audits incl=ding: EFTA_R1_01363927 EFTA02366701 - Complex financial tr=nsactions (distressed debt, related party transactions) involving individu=ls and their pass through entities - Audits of passive v =ctive status - Support for business=use of assets (real estate, airplanes, yachts, art, equestrian)=/span> - Investment v trade o= business classification (cap gain v ordinary, developer v investor)<=o:p> - Equity v debt treatm=nt in real estate transactions Mitchell Kops &#=211; Principal — National ITS Some audit experience =t Withers including: • Tax shelters, passive versus active • Private plane • Foreign Tax credit/deduction matter Joseph Fuschetto=— Executive Director — PCS • Many Federal compliance audits (line by line) • Federal audits of Schedule Cs " Federal Audits of Schedule E — passive v active, at-risk4=i> • Multiple gift tax audits • NYS residency and income allocation audits Surya Shivakumar &#=211; Senior Manager — PCS • Federal compliance audits (line by line) • NJ audits — full substantiation of all lines and adjustments • NYS residency & income allocation audits Barry J. Cohen = Elysium Management,=LLC 445 Park Avenue Suite 1401 New York, NY 10022&=bsp; 2 EFTA_R1_01363928 EFTA02366702 EFTA_R1_0 1363929 EFTA02366703