Steven M. Walk
Financial Consulting

 

 

 

 

 

Steven M. Walk J.D., CPA*

 

Résumé

BUSINESS CONSULTANT / CPA / TAX ATTORNEY

Senior level Business Consultant/CPA/Attorney with Big 4 and IRS litigation experience. Consistently recognized for ability to design and implement proactive, cost-saving solutions for publicly and privately held businesses. Diverse book of business combined with strong technical expertise. Demonstrated accomplishments:

• Tax Returns, Audits, and Appeals • Tax Planning
• Part - Time / Interim CFO • Business Development
• Business Turnarounds • Mergers and Acquisitions
• Greenfield Facility Start - Up • Financial Reporting
• Tax Litigation and IRS Issue Resolution • Business Valuation
• Financial / Tax Software Consulting • Accounting Methods

PROFESSIONAL EXPERIENCE

STEVEN M. WALK, J.D., CPA 2001 to Present

Independent Business & Tax Consultant Independent business consultancy & tax practice that offers clients part-time and interim CFO services, operational and business consulting, and strategic tax services in a cost-effective, time-efficient manner with a level of personal attention to detail and service only available from a senior level independent practitioner. The combination of operational, accounting, and legal background helps businesses achieve business objectives without hiring permanent staff; improve financial functions and operate more efficiently, reduce tax burdens, ensure compliance with legal requirements, and resolve disputes.
• Led effort to review and implement financing alternatives for a new $5 million manufacturing and warehouse facility ultimately including port authority issued bonds, tax abatements and foreign trade zone.
• Served as CFO for a start up dot com/software company in the real estate services industry. Implemented GAAP accounting standards, budgets, and new financial software; hired and trained a financial staff.
• Engaged to lead a variety of business M&A projects including evaluation of target assets and business opportunities, operational and financial due diligence, and tax opinion letters.
• Served as project leader to establish and implement a new distribution company in Mexico for a US based consumer products business. The initiative included extensive planning and consulting with Mexican customers and sales personnel; assembling team of Mexican legal, accounting and logistic partners and coordinating and training the domestic team.
• Created framework for FIN 48 compliance for a multinational engineered materials company.
• Provided turnkey tax solutions for international compliance, domestic manufacturing deduction calculations and federal, state and local tax compliance.

ERNST & YOUNG LLP 1987 to 2001

Principal, Lake Erie Area Financial Services & Insurance Group (1998 to 2001)

Led new business development efforts and managed $1 million book of business in tax consulting services for banking, insurance and financial services companies in Ohio, Michigan, Pennsylvania and West Virginia. Consulted on federal/state tax issues dealing with: mergers and acquisitions; allocation issues; structured transactions; IRS procedural matters and dispute resolution; accounting methods; valuation; and alternative minimum tax.
• Sold and managed M&A tax projects generating $300,000 in new, high margin revenue.
• Developed new relationships and managed state/local tax planning and compliance outsourcing engagements for 13 banking and insurance companies with average fees of $100,000 each.
• Penetrated major non-client insurance companies and won competitive bids for process improvement projects, tax incentive programs and $200 million refund claim issues with potential revenues of $2 million.
• Created a 13-year “sole source” tax advisor relationship with the largest health insurer in Ohio. Significant engagements included an IRS audit management ($1 million fees), joint venture tax consulting ($750,000 fees), and M&A tax advice ($450,000 fees).

Principal, National IRS Practice & Procedure Group (1997 to 1998)
Senior Manager (1993 to 1997)

Led Great Lakes region effort to create IRS Practice and Procedure group providing services to 300+ clients of 15 practice offices in 6 states and Canada including: tax audits, dispute resolution, appeals, penalties; accounting methods; valuations, employment tax; tax shelters, international tax procedures and employee benefit plans.
• Sold and directed tax service engagements for new and existing manufacturing, consumer product, banking, insurance, investment management and healthcare clients with annual fees up to $2 million.
• Achieved penalty abatements related to income, employment, and information return penalties. Savings to clients included a $3 million regional trucking company, $400,000 regional brokerage firm, $300,000 large health insurance company and $500,000 large super regional bank.
• Appealed IRS exam issues for private/public corporations and partnerships with tax savings and penalty avoidance ranging up to $10 million for individual clients.
• Resolved $200 million valuation issue for large manufacturer generating $300,000 in fees.
• Obtained tax refunds for clients including $40 million received in 1 week for a multinational company.
• Initiated relationships with Fortune 500 companies realizing major fees and creating long-term tax clients.
• Won multiyear outsourcing contracts to manage IRS audits for public, private and non-profit corporations.
• Initiated innovative, proactive negotiations with the IRS on behalf of clients to resolve procedural and compliance errors, precluding the imposition of penalties and business disruption.

Senior Manager, Cleveland Tax Department (1989 to 1993)
Manager (1987 to 1989)

Managed client relationships as a multidisciplined tax generalist with emphasis on tax planning and resolving federal/state tax controversies and compliance issues. Consulted on complex tax issues related to mergers and acquisitions, inventory valuation and taxation of insurance companies.

OFFICE OF CHIEF COUNSEL, IRS, Cleveland, OH 1982 to 1987

Senior Trial Attorney (1986 to 1987)
Trial Attorney (1982 to 1985)

Represented IRS on federal tax controversies for corporate, partnership and individual tax matters. Substantial experience in accounting methods, valuation issues, tax shelters, collection and TEFRA partnership litigation.

COOPERS & LYBRAND, Columbus, OH 1981 to 1982

Tax Associate

 

EDUCATION / PROFESSIONAL ASSOCIATIONS

J.D., The Ohio State University, College of Law, Columbus, OH 1982
B.A., Emory University, Atlanta, GA 1979

Admitted to the Ohio Bar and US Tax Court Bar, 1982
CPA - Ohio, 1990
AICPA and OSCPA (1990 to Present)
Member OSCPA Tax Committee (1995 to 1999)