James N. Mastracchio

Partner

Washington, D.C.
T 202.861.1650  |  F 202.861.1783

Jim Mastracchio is a seasoned advocate who leads BakerHostetler's Criminal Tax Defense team, co-leads the national Tax Controversy and Litigation team, and is the Tax Group Coordinator for the firm's Washington, D.C., office. Recognized for his experience in defending civil and criminal tax investigations involving off-shore banking, Jim is routinely engaged by regulated financial institutions located within and outside of the United States. On an international scale, he has served as Independent Examiner for a major Swiss bank, has defended a foreign financial institutions facing criminal tax investigations with respect to associations with U.S. account holders, and has counseled a number of financial institutions implementing FATCA in various jurisdictions, including Jamaica, Barbados, Trinidad and Tobago, Cayman Islands, and the Isle of Man, among others. In the United States, Jim has represented hundreds of U.S. individuals participating in the IRS' Offshore Voluntary Disclosure Programs. This work routinely involves income tax and informational reporting obligations associated with trusts, foundations, international business companies, pension plans, insurance products and other financial arrangements. He also represents individuals facing civil and criminal tax investigations involving tax fraud and evasion, monetary structuring, and tax promoter investigations. 

Jim practices before the IRS, the IRS Office of Appeals, federal courts, the IRS-Criminal Investigation Division, the Tax Division of the Department of Justice, and before the U.S. Attorney’s Offices nationwide. Drawing on his depth of experience, Jim is a prolific writer and speaker on tax-related matters. He is the author of "Best Practices for Managing Tax Investigations," Inside the Minds: Common Issues in White Collar Law, Thomson West Publishing (2007). He is widely quoted in the national media, appearing more than 100 times in the past three years, including CNN, USA Today, The New York Times, The Wall Street Journal, The Washington Post, Bloomberg, MarketWatch, ABC, NBC, and CBS online affiliates, BNA, Tax Analysts, CCH, and numerous other business and tax publications. Jim is a frequent speaker and panelist on civil and criminal tax matters.

Select Experience

  • As an Independent Examiner for a major Swiss Banking Institution participating in the Department of Justice's Program for Swiss-Based Financial Institutions, leads a team of lawyers who are responsible for reporting to the Tax Division of the U.S. Department of Justice regarding the bank's Program compliance.
  • Currently defending a foreign financial institution facing possible criminal tax prosecution for its association with U.S. account holders.
  • Serves as counsel to a number of financial institutions implementing FATCA in the jurisdictions of Jamaica, Barbados, Trinidad and Tobago, Cayman Islands, and the Isle of Man, among others. Currently engaged to provide expert testimony in an international arbitration stemming from an IRS and DOJ investigation of an off-shore financial institution.
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Experience

  • As an Independent Examiner for a major Swiss Banking Institution participating in the Department of Justice's Program for Swiss-Based Financial Institutions, leads a team of lawyers who are responsible for reporting to the Tax Division of the U.S. Department of Justice regarding the bank's Program compliance.
  • Currently defending a foreign financial institution facing possible criminal tax prosecution for its association with U.S. account holders.
  • Serves as counsel to a number of financial institutions implementing FATCA in the jurisdictions of Jamaica, Barbados, Trinidad and Tobago, Cayman Islands, and the Isle of Man, among others. Currently engaged to provide expert testimony in an international arbitration stemming from an IRS and DOJ investigation of an off-shore financial institution.
  • In the United States, has represented more than 275 U.S. individuals participating in the IRS' Offshore Voluntary Disclosure Program.
  • Represents U.S. persons who face civil investigations and criminal tax prosecutions for the allegedly underreporting offshore investment income. Included in these investigations are reporting requirements for a variety of informational returns, including FBARs, Forms 5471, Forms 3520, Forms W-8 BEN, and other informational reporting obligations associated with trusts, foundations, international business companies, pension plans, insurance products, and other financial arrangements.

Recognitions

  • U.S. Legal 500 Litigation Guide: Leading national tax controversy attorney
  • Washington, D.C. "Super Lawyer" (2014)

Memberships

  • American Bar 'Civil and Criminal Tax Penalties Section: Monetary Penalties and Forfeitures Subcommittee
  • New York State Bar Association's Tax Compliance, Practice and Procedure Committee

News

Services

Admissions

  • U.S. Court of Federal Claims
  • U.S. Tax Court
  • U.S. District Court, Southern District of California
  • District of Columbia
  • New York

Education

  • LL.M., New York University School of Law, 1996
  • J.D., New York University School of Law, 1996, summa cum laude
  • M.S., State University of New York at Albany, 1991
  • B.S., State University of New York at Albany, 1987, summa cum laude