Team Member

Personal Experience

Gary Wells, Attorney at Law is Of Counsel for BILTgroup. He has over 25 years of experience as a member of several Big 4 National Accounting firms. He 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 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 help 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 by preparing, reviewing, and managing tax research memoranda explaining 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. Gary has also led 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 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

Professional Memberships

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

Published Articles

• The Cybersecurity Threat, Burden, and Role of Tax Practitioners – Article in Bloomberg Tax – Tax Management Memorandum
• “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.
• “IRS Targeting Taxpayers – 13 Campaigns: IRS has identified thirteen key areas it considers “high risk”.
• “Yearend Also Brings End to Startups Opportunity to Elect to Monetize R&E Income Tax Credit as Payroll Tax Credit for 2016”.