CPA, CFP, Tax Attorney, Treasurer
Mr. Ira Sacks has been specializing in arbitrage rebate computations for over 30 years and oversees the entire arbitrage rebate computational practice. Mr. Sacks is a renowned tax attorney specializing in Section 148(f) of the Tax Code and applicable regulations with an extensive education and experience within the arbitrage rebate industry. During his tenure, Mr. Sacks has completed more than 17,500 of the most multifaceted arbitrage calculations in the industry on par values of over $160 Billion.
As an industry pioneer, Mr. Sacks has first-hand working knowledge of completing arbitrage compliance calculations within each significant regulatory modification. Mr. Sacks understands that rebate compliance is a serious business and the Tax Code is a volatile and complex set of rules and regulations subject to frequent changes and constant reinterpretation. Mr. Sacks has completed calculations in conformance with each major evolution of the Code including the 1986, 1989 Temporary, 1992 and 1993 regulations.
Mr. Sacks is also the only tax attorney in the country who has been completing arbitrage rebate calculations since the regulations were introduced in 1986. Mr. Sacks’ primary goal is to ensure that each ACS calculation is performed in compliance with the Tax Code and Regulations while employing the most creative rebate minimization strategies.
Credited with the development and implementation of an industry-first, commercially available arbitrage rebate calculation software system, Mr. Sacks also introduced a state-of-the-art bond year slicing optimization financial model used solely by our firm. This technologically advanced approach to isolating variable rate and investment rate allocations has decreased IRS arbitrage rebate and yield restriction payments by more than $25 Million.
Mr. Sacks has been a subcommittee member of the National Bond Lawyers Association’s General Tax Matters Committee and maintains a Preparer Tax Identification Number allowing Mr. Sacks to prepare IRS related forms for arbitrage rebate payments and refunds.
Bachelor of Science: Accounting, Finance, Computer Science
Masters of Science: Law, Taxation, Business
Licensing & Certification:
Certified Public Accountant Tax Attorney Certified Financial Planner
Areas of Expertise:
Accounting Methodologies | Cash Flow Modeling | Forensic Accounting Qualified Hedges | Bond Year Slicing Optimization | Code Interpretation IRS Audit Defense Team | Rebate Minimization | Cascading Transferred Proceeds Derivatives | IRS Recovery Requests | SWAP Transactions