Jim Mastracchio Co-Chairs BakerHostetler’s National Tax Controversy Practice and he is the Tax Group Coordinator for the firm’s Washington, D.C., office. Mr. Mastracchio focuses his practice on civil and criminal tax controversy and litigation matters. In civil tax controversy, he handles a broad range of tax disputes before the various examination divisions of the IRS, the IRS Office of Appeals and in federal courts. Mr. Mastracchio is nationally recognized for his work on international tax enforcement matters, off-shore bank account investigations and informational reporting obligations associated with off-shore holdings. He also counsels professionals facing tax return preparation penalties, tax promoter penalties and civil forfeitures and injunctions.
As a Core Team Leader for BakerHostetler’s Criminal Tax Defense Team, Mr. Mastracchio represents clients facing criminal tax investigations and criminal tax prosecutions. Recent representations have included tax shelter promotion, off-shore bank account investigations, criminal tax evasion, trust fund violations, false return and failure to file investigations, as well as allegations of criminal FBAR violations. Mr. Mastracchio also represents taxpayers facing criminal monetary structuring, obstruction and tax conspiracy charges. He is the author of “Best Practices for Managing Tax Investigations,” Inside The Minds: Common Issues in White Collar Law, Thomson West Publishing (2007).
Mr. Mastracchio is a frequent speaker and panelist on civil and criminal tax matters and has been extensively quoted in legal publications and in the national media. Mr. Mastracchio holds a number of awards, including being cited as a leading national tax controversy attorney in U.S. Legal 500 Litigation Guide. He chairs the Monetary Penalties and Forfeitures Subcommittee of the American Bar Association’s Civil and Criminal Tax Penalties Section and is a Committee Member of the New York State Bar Association’s Tax Compliance, Practice and Procedure Committee. Mr. Mastracchio is a Certified Public Accountant who practiced with a top international accounting firm prior to his legal career.
Mr. Mastracchio has represented hundreds of taxpayers with previously undisclosed off-shore accounts who successfully made voluntary disclosures to the U.S. authorities. With the recent passage of FATCA, and given Mr. Mastracchio’s considerable experience in off-shore account reporting, he has been asked to consult and advise foreign financial institutions and foreign governmental officials regarding the implementation of FATCA, pending FATCA Treasury Regulations, FATCA intergovernmental agreements and notifications to customers of foreign financial institutions of their U.S. income tax and informational reporting obligations.
Mr. Mastracchio is frequently asked to comment on topics related to the IRS’ Off-Shore Voluntary Disclosure Programs, FATCA and on developments in criminal tax enforcement. His more recent articles and comments in the national media include:
2/12/2013 - Highlights of Recently Released FATCA Regulations
10/24/2012 - IRS Releases New Timeline for FATCA Implementation
10/12/2012 - Mastracchio Discusses Key FATCA Considerations at Eighth Annual AML/Compliance and Financial Crime Conference