Primary Focus & Experience
Michael J. Grace focuses on introducing companies to the firm's Milbank TAARS® (“Tax Account Analysis and Recovery Services”) practice. Pioneered by Milbank, TAARS® identifies errors by the Internal Revenue Service (“IRS”) and state revenue authorities, principally involving interest and penalties, and obtains for clients refunds of erroneously charged amounts.
Recognition & Accomplishments
Michael brings to his practice as Managing Director—TAARS® 30 years’ experience specializing in taxation in law firms, accounting firms, and the Federal government. He has attained a national reputation for expertise in the taxation of limited liability companies, other pass-through entities, and their owners. During the 1980s, Michael served at the IRS National Office in Washington, DC as the Principal Author of the “passive loss” regulations under Internal Revenue Code Section 469. He also has directed the Graduate Tax and Securities (LL.M.) Programs and has taught tax courses at Georgetown University Law Center. Michael has developed working knowledge of the expanding intersection between financial accounting and taxation including Accounting for Income Taxes under FAS 109 and FIN 48. He is AV rated by Martindale-Hubbell and has passed the Uniform CPA Examination.