Bruce Serchuk focuses his practice on tax issues as they relate to debt securities, particularly tax-exempt bonds.
I advise clients regarding the tax aspects of tax-exempt bond transactions, acting primarily as bond counsel, borrower’s counsel and underwriter’s counsel. I have participated in a wide variety of bond transactions, including financings for governmental facilities, student loans, multifamily housing, stadiums and nonprofit hospitals, universities and cultural institutions. I also spend a significant amount of time working on IRS examinations and voluntary closing agreements.
My time in government gave me the experience needed to provide accurate and practical advice to clients. Prior to joining the firm, I worked in the Office of Tax Policy at the Treasury Department, and the Office of the Chief Counsel at the Internal Revenue Service. At Treasury, I was an attorney-advisor responsible for drafting published guidance and providing advice regarding legislative issues relating to tax-exempt bonds. While at the IRS, I was the senior technician attorney in the Tax-Exempt Bond Branch, responsible for drafting published guidance and for drafting and reviewing private letter rulings and technical advice memoranda, including rulings regarding arbitrage, private activity bonds and mixed-use allocations.
While at the IRS, I provided advice in connection with various enforcement matters, negotiated closing agreements and trained IRS audit personnel. I draw upon these experiences and the contacts I made when clients are faced with IRS examinations or the need to self-correct violations through the IRS’ voluntary closing agreement program.
I expect a continued emphasis on the IRS enforcement side of the public finance practice, with more and more time spent by issuers and their professionals on ensuring they are in compliance with the tax law.
Bruce is a coauthor of “The Coming Changes in Tax-Exempt Health Care Finance,” Journal of Health Care Finance, Volume 22:1, 1995.
The Bond Buyer | March 11, 2019
This article recaps the recent National Association of Bond Lawyers panel on bond audits. Washington, DC Project Finance and Public Finance partner Bruce Serchuk, who served as the panel’s moderator, is quoted discussing best practices on when to send documents to the IRS.
Law360 | April 19, 2018
Nixon Peabody public finance partners Travis Gibbs of San Francisco and Mitch Rappaport, Bruce Serchuk and Carla Young of Washington DC co-wrote this analysis on the new IRS procedures that can be used “to cure impermissible use of bond-financed projects.”
Public Finance Alert | 10.30.19
Public Finance Alert | 11.13.17
Public Finance Alert | 11.05.17
Public Finance Alert | 10.01.17
George Mason University School of Law, J.D.
Lehigh University, College of Business and Economics, B.S. Bu., Accounting
District of Columbia