- Advising insurance companies and managing general agents regarding coverage for specified tax risks including those related renewable energy tax credits, internal restructurings, and M&A related exposures.
- Represented a publicly traded company protesting an $18 million IRS disallowance of bad debt expense deductions and $60 million of partnership basis.
- Represented Total System Services (TSYS) in its $1.05 billion acquisition of Cayan, a payment technology company with operations in the United States and Northern Ireland.
- Advised Synovus Financial Corp. in its $2.9 billion acquisition of FCB Financial Holdings.
- Represented LinQuest Corporation, a federal government contractor and leading provider of space systems technology solutions to the U.S. defense and intelligence communities, in the sale of a controlling interest to Madison Dearborn Partners and CoVant Management.
- Represented a pharmaceutical distribution company in a taxable spin-off and sale of one of its major business lines for $335 million.
- Advised Synovus Financial Corp. on a $350 million preferred stock offering.
- Advised clients on federal tax issues (Employee Retention Credits, Paycheck Protection Program loans, etc.) arising from the coronavirus pandemic, including the tax impact of new federal legislation designed to mitigate the economic effects, business disruption issues, and tax considerations for insolvent and troubled businesses.
- Represented a publicly traded company protesting a $12 million IRS disallowance of research and experimentation (R&E) credits and obtained an 80% IRS concession.
- Worked with a large California-based battery storage project developer to procure a full-wrap $70 million tax insurance policy to facilitate one of the first ITC transfer transactions in the market under the Inflation Reduction Act.
- Placed a full-wrap tax insurance policy for $275 million of wind project ITCs for a large private-equity-backed sponsor developer to facilitate the sale of tax credits out of a hybrid tax equity structure.
- Represented and advised various renewable energy project developers, private-equity-backed sponsors, large financial institution tax equity investors, and Fortune 500 corporate buyers on all tax insurance aspects of renewable energy tax credit monetization transactions.
- Advised a publicly traded financial institution with numerous tax insurance matters for a “Granite Trust” restructuring transaction that resulted in a $300 million+ taxable loss.
- Advised and aided a partnership in procuring tax insurance to mitigate the risk of an IRS challenge to the validity of the entity’s status as a partnership under the Internal Revenue Code.
Counsel,
- Phone: +1 404 881 7837
- Email: seth.buchwald@alston.com
Companies rely on Seth’s creative problem-solving to guide them through the federal and international tax implications of complex commercial transactions, including the use of transactional insurance products.
Seth Buchwald uses his experience as a former certified public accountant (CPA) and tax insurance broker to understand and assist U.S. and multinational clients with domestic and international tax planning and compliance.
Seth has extensive experience with renewable energy tax credit transactions, M&A, corporate restructurings and civil and criminal tax controversy, including advising both insurance companies and insureds on insurance coverage matters for specified tax risks in complex commercial transactions. Seth has advised on numerous tax insurance policies covering complex domestic and international tax matters as well as recent innovative and expanded uses of transactional insurance.
Seth was the 2021 recipient of the Judge Robert Castellani Commitment to Dekalb Legal Services Award for tax assistance provided to low-income clients.
Bar Admissions
- Georgia
Education
- University of Texas at Austin (J.D., 2017)
- University of Georgia (B.B.A., 2011)
Memberships
- Georgia Tax Clinic, director (2019 – present)