Gary Wells

wellsGary Wells, CPA and Attorney at Law is Of Counsel for BILTgroup. He has over 25 years of experience as member of several Big 4 National Accounting firms and has served 15 years as a Vice President and Tax Director for two large financial services corporations. Most recently, he was the Managing Director of Corporate Tax for Navient Solutions, Inc. and its predecessor Sallie Mae, Inc. He managed the tax planning and federal controversy function for both companies. Having worked hands-on in many areas of federal and state income taxation, law and accounting both as an officer and trusted legal, tax advisor, Gary provides in-depth tax planning advice, including accounting (FAS 740) that affect many facets of operating and structuring businesses for global markets. He understands how to ask the tough questions and the importance of explaining the difficult answers in an easy to understand manner. An answer to a question that management does not understand is not a proper answer.

As an important member of a tax department, Gary managed the day-to-day research demands that helps both the legal and tax departments to remain ahead of the emerging tax issues while taking advantage of the benefits already available under the law. He provided the necessary guidance to justify and substantiate tax and legal actions through his preparing, reviewing and managing tax research memoranda that explain the issue and facts in an easy to understand manner that created a clear position and effective record. His writings helped the tax compliance, tax provision and financial reporting teams to fully understand the facts, the law, and how to apply it to many different situations. He has written, presented, and maintained tax procedures that explained the law and how to apply it in a step-by-step form for the benefit of the entire tax department as a teaching tool.

He has worked on many acquisitions and dispositions that required the use of his legal, tax, financial and accounting knowledge to ensure the deal made sense from all four perspectives. As well, Gary has lead large case examinations before the Internal Revenue Service on behalf of his clients and employers and presented and negotiated substantial issues that reached Appeals Section of the IRS. He understands that the tax rules demand a complete assessment of the facts to reach a mutually beneficial agreement. He has handled tax controversies outside the U.S., including India and Poland.

Gary is a lawyer and certified public accountant and has published several articles on different topics of interest to all taxpayers.

Education

  • J.D., University of Illinois, College of Law
  • M.S.T., Taxation, George Washington University
  • B.A., Accounting, George Washington University

Admissions

  • New York, Bar
  • New Jersey, Bar
  • DC, Bar (Applied for)
  • Virginia, CPA

Professional Memberships

  • American Institute of Certified Public Accountants (AICPA)
  • American Bar Association – Tax Section (ABA)
  • New York State Bar Association – Tax Section

Published Articles
“No Longer Solely a Tax Issue: Jobs Creation Act and Recent Regulations Spread the Tax Shelter Reporting Burden Across the Organization for Financial Institutions and Other Taxpayers,” JOURNAL OF TAXATION OF INVESTMENTS, Vol. 22 No. 2, Winter 2005 Edition.

“Income Recognition by Credit Card Providers: Developments and Difficult Issues,” JOURNAL OF TAXATION AND REGULATION OF FINANCIAL INSTITUTIONS, Vol. 19 No. 3, January/February 2006 Issue.