Tax
Overview
Engagements
Experts
Publications

The Brattle Group provides advice, expert testimony, and analysis in tax disputes for both taxpayers and the relevant taxing authority.

Our Principals and Academic Advisors offer experience in a broad range of tax-related issues, including alleged “abusive” tax shelters (sometimes called “listed transactions”), domestic taxation of multinational companies, leases, transfer pricing, property taxes, natural resource taxes, corporate-owned life insurance, and the debt and equity characteristics of securities.

We supply financial and economic analyses that bear on key judicial doctrines. We also work with outside experts from academia and the business community in providing expert testimony. Our clients have included law firms and large corporations in the U.S. and abroad, as well as government agencies.

Our tax-related experience includes:

  • Conducting analyses related to judicial doctrines involving the economic nature of complex transactions, their profitability apart from tax considerations, the steps involved, and the reasonableness of their stated non-tax business purposes
  • Providing economic analysis of disputes about the tax implications of contingent business liabilities
  • Analyzing economic aspects of disputes about the tax implications of derivatives (such as options) written on currency exchange rates and other underlying assets
  • Determining the extent and reasonableness of debt defeasance and interrelated loans
  • Evaluating factors in tax-advantaged situations to distinguish whether financial interests are more like debt or equity
  • Determining damages in disputes between taxpayers and tax-strategy promoters
  • Evaluating the economics of complex leasing, project financing and investment partnership transactions
  • Auditing and reconstructing due diligence assessments by taxpayers to determine if economic parameters in the transaction design were reasonable and unbiased
  • Analyzing the nature and role of intra-company debt in determining the amount of taxable income at a company’s foreign branches
  • Evaluating transfer prices between parts of multinational corporations located in different countries
  • Assessing the source and nature of the tax advantage to corporate-owned life insurance
  • Estimating fair market value for underlying assets, financial interests, restructured positions, and minority shares, in both income and property tax disputes
  • Analyzing the wellhead or minemouth “netback” value of natural resources subject to taxation (or royalties)

Principals
Chodorow_075
Principal
Darrell Chodorow has more than 15 years of consulting experience in commercial damages, valuation, and tax matters. More-icon
Cohen_065
Principal
+1.617.864.7900
Mr. Cohen specializes in financial modeling and valuation, with a focus on complex business litigation. More-icon
Cragg13
Principal
+1.617.234.5721
Dr. Cragg has extensive consulting, research, and expert witness experience in corporate finance, financial services, and valuation. More-icon
Kolbe_092
Principal
+1.617.864.7900
Dr. Kolbe's work focuses on applied financial economics and his projects address risk, return, and regulatory policy for rate-regulated industries; tax disputes; and firm, security, or project valuation questions in a wide variety of settings. More-icon
0107_1_
Principal
Dr. Ledgerwood is an expert in market competitiveness with an emphasis on the economic analysis of potential market manipulation claims in commodities and securities markets. More-icon
Myers_036
Principal
+1.617.864.7900
Professor Myers is one of the world’s leading authorities on the theory and practice of finance. More-icon
Oldfield_098-1
Principal
+1.202.955.5050
Dr. Oldfield is an expert in financial economics, including mortgage securitization, trading strategies, market making, corporate bond valuation, financial derivatives, and risk management. More-icon
Sacks_124
Principal
+1.202.955.5050
Mr. Sacks has more than fifteen years of consulting experience in valuation, international arbitration, securities, commercial damages, tax, and product liability matters. More-icon
Sarro_061
Principal
+1.617.864.7900
Dr. Sarro is a financial economist specializing in complex business matters and litigation involving capital markets, securities and structured finance contracts and transactions, valuation, and economic damages. More-icon
Vilbert_119
Principal
+1.415.217.1000
Dr. Vilbert specializes in cost of capital, regulatory economics, financial planning, income tax disputes, and valuation. More-icon
Zhou_082
Principal
+1.617.864.7900
Dr. Zhou is a valuation, corporate finance, and accounting expert with 15 years of consulting experience. More-icon
Academic Advisors
Academic Advisor
Dr. Graham is a Professor of Finance at the Fuqua School of Business at Duke University. More-icon
Academic Advisor
Dr. Green is the Director of the University of Southern California Lusk Center for Real Estate. More-icon
Academic Advisor
Dr. Maydew is Chair of the Accounting Area, Director of Research at the UNC Tax Center, and the David E. Hoffman Term Professor of Accounting at the University of North Carolina. More-icon
Academic Advisor
Dr. Metcalf is a Professor of Economics at Tufts University and a Research Associate at both the National Bureau of Economic Research and MIT's Joint Program on the Science and Policy of Global Change. More-icon
Consultants
0265_1_
Senior Associate
Dr. Dorobantu specializes in business and project valuation and structured finance issues, applied in the context of international arbitration and litigation involving financial institutions and tax matters. More-icon
Kumar_066
Senior Associate
+1.415.217.1000
Dr. Kumar is an economist with expertise in the areas of regulatory finance, financial statement analysis, and business valuation. More-icon
Presentation
Super-Normal Profits, Intangibles, and Tax Policy: The Role of Economics
August 1, 2013
Presented at the National Association for Business Economics (NABE) Transfer Pricing Symposium, Arlington, VA
Report
Real Options, Taxes and Financial Leverage
June 2012
Published by National Bureau of Economic Research, Working Paper No. 18148
Article
The Impact Of HR 3424 On The US Insurance Market
July 22, 2010
Published in Insurance Law360
Report
The Impact on the U.S. Insurance Market of H.R. 3424 on Offshore Affiliate Reinsurance: An Updated Economic Analysis
July 8, 2010
Michael I. Cragg, J. David Cummins, and Bin Zhou
Published by The Brattle Group, Inc.
Report
The Impact on the U.S. Insurance Market of a Tax on Offshore Affiliate Reinsurance: An Economic Analysis
May 2009
Michael I. Cragg, J. David Cummins, and Bin Zhou
Prepared for The Coalition for Competitive Insurance Rates, with support from the Association of Bermuda Insurers and Reinsurers (ABIR) and Leading European Reinsurers and Insurers