June 3, 2014 - Washington, D.C. – Carla A. Young, a former Assistant Branch Chief in the tax-exempt bond branch at the Internal Revenue Service Office of Chief Counsel, has joined Nixon Peabody as a tax partner in our public finance practice group.
Focused on federal tax issues relating to the issuance of tax-exempt and tax-advantaged bonds by state and local governments, Carla has worked with clients in the role of bond counsel, underwriter's counsel, special tax counsel, lender's counsel and borrower's counsel in a wide variety of financings for governmental facilities, water and sewer systems, distressed debt restructurings, community development districts, housing, airports, charter schools and nonprofit organizations. Carla has also represented numerous issuers and borrowers in connection with IRS audits and voluntary closing agreements relating to tax-exempt and tax credit bonds.
"We are excited to add the IRS experience that Carla brings at a time when increased IRS enforcement efforts impact bond issuers and other industry participants more frequently than ever," said Mitch Rapaport, Washington, D.C.-based tax partner and a leader of the firm's public finance practice. "With years of private and public sector experience, Carla understands the tax issues that our clients deal with in structuring new financings and in addressing post-issuance compliance issues. Carla is a skilled tax attorney who will provide strong tax insights to our clients."
While with the IRS, Carla developed regulatory and other published guidance and drafted private letter rulings and technical advice memoranda relating to tax-exempt and tax credit bonds, including guidance relating to Build America Bonds. Carla also worked on regulations on arbitrage and on the treatment of payments in lieu of tax in tax-exempt financings of stadiums and other facilities, and guidance on tax-exempt bonds in disaster areas, federal guarantees, single and multifamily housing bonds, and the voluntary compliance agreement program for tax-exempt and tax credit bonds. Carla served as the Chief Counsel Representative to the TEB Focus Group, which assists IRS agents in connection with tax-exempt bond audits.
"Carla's broad experience in public finance is a great asset to us and the firm's other clients, including affordable housing, higher education, nonprofit organizations and infrastructure development," said Jeffrey Lesk, Washington, D.C. office managing partner. "We are excited to welcome her to the firm."
Carla was previously a shareholder with Greenberg Traurig, LLP. She earned her J.D., cum laude, from Georgetown University Law Center and her B.A., with high honors, in Accounting from Rutgers University.
SOURCE Nixon Peabody