Mr. Sacks' employee benefits practice encompasses design, implementation and administration of a broad range of benefit plans including qualified plans (pension, profit sharing, 401(k), Keogh, ESOPs), nonqualified deferred compensation plans (including 409A), executive compensation plans and welfare plans. He is skilled in the areas of federal tax and ERISA, and often renders services to firms as special benefits counsel.
Mr. Sacks has represented employers of all sizes in many diverse industries, although his general area of concentration is with larger plan sponsors. He has an active practice in the area of plan design, qualification and termination, as well as counseling on ERISA fiduciary matters, and has represented clients before the Internal Revenue Service, Department of Labor and Pension Benefit Guaranty Corporation. In addition to representation of corporations and tax exempt entities, he also represents trustees or other plan fiduciaries, plan committees, plan participants, and, on plan funding and reporting matters, interfaces with plan actuaries. Mr. Sacks is also experienced with benefits issues involved in corporate mergers and acquisitions where he has represented clients on both the purchaser and seller side. As an active member in several national level employee benefits organizations, and President of one, he is a frequent lecturer on employee benefits topics.
Mr. Sacks provides U.S. (federal state & local) and international tax advice and planning for multistate and multinational corporations, as well as for local and small businesses, general and limited partnerships, limited liability companies (LLCs), individuals, trusts and estates. He further provides advice regarding the impact of U.S. tax treaties and transfer pricing rules to clients with international operations.
Mr. Sacks has extensive experience in structuring business transactions, including start-ups, joint ventures, spin-offs and acquisitions. He also assists clients in securing IRS private letter rulings, IRS pre-filing agreements and IRS closing agreements. Mr. Sacks has counseled and represented clients in a wide variety of controversies at the federal, state and local level and routinely handles tax audits as well as cases before formal administrative hearing judges. His experience further includes preparation of Internal Revenue Service petitions and protest letters in connection with Internal Revenue Service challenges of tax benefits claimed by investors in limited partnerships and other entities.
In addition to his three bar memberships (New York, New Jersey, Connecticut), Mr. Sacks is also a Certified Public Accountant (“CPA” -New Jersey) and possesses a Masters in Tax (LL.M. advanced law degree) from New York University.
Licensed since 1979
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|Association Name||Position Name||Duration|
|WEB, Inc. Network of Benefits Professionals, New York City Chapter||Board of Directors||N/A|
|WEB, Inc. Network of Benefits Professionals, New York City Chapter||Vice President||N/A|
|New York State Bar Association, Tax Section||Committee on Employee Benefits||N/A|
|Journal of Pension Planning and Compliance||Nonqualified Deferred Compensation Plans Increase in Popularity||1995|
|The Practical Tax Lawyer||Choosing the Right Small Business Retirement Plan||1991|
|Journal of Taxation||Terminating a VEBA with Excess Assets||1985|
|New York University School of Law||Taxation||LL.M - Master of Laws||N/A|
|Seton Hall University School of Law||Law||JD - Juris Doctor||N/A|