Cristin Burke concentrates her practice on tax-related law and has experience with a variety of federal and international tax issues, including partnership, corporate and withholding issues. She regularly assists clients in corporate tax planning including structuring issues for both start-up companies and acquisitions. She has advised large tax exempt entities on a variety of federal tax issues dealing with the entities' tax exempt status and counseled bankruptcy clients on federal tax issues from preparing tax disclosures and structuring issues to assisting forensic accountants with liquidating trusts and return preparation.
Professional & Community Activities
American Bar Association, Member
South Carolina Bar Association, Member
Experience
IRS challenging a listed transaction for a global manufacturer, Represented a global manufacturer in a case involving a highly controversial "listed transaction" being challenged by the IRS. The listed transaction at issue, which initially was undertaken by many corporate taxpayers, involved the client claiming deductions for contributions to its 401k plans prior to the year that employees performed the services giving rise to the contributions. While the weight of authority supported this deduction in the taxpayer's circumstances, the IRS challenged the deduction, labeling it abusive. The team filed a Motion for Partial Summary Judgment, asking the Tax Court to dismiss the IRS's proposed deficiencies relating to the 401k deductions. The IRS agreed to concede the case, dropping its proposed assessments of tax and penalties exceeding $25 million.
Acquisition of a multinational gasket manufacturer by French private equity company, Represented a French private equity and its portfolio company in the leveraged acquisition from another private equity fund of a U.S. and U.K.-based manufacturer of gaskets and sealing solutions for high intensity industrial environments.
Sales tax audit for a non-residential building operator, Successfully represented a parking facility operations subsidiary of a non-residential building operator in a sales tax audit with the Florida Department of Revenue.
*Experience gained by attorney prior to joining Kilpatrick Townsend
Publications
23 August 2010, Complex Tax Planning and Penalties after Canal: Independence of Tax Advice is the Key, Legal Alerts