Forrest Milder is one of our lead tax partners when it comes to tax credits and other tax-advantaged investments. He has a national practice that emphasizes the development of renewables, affordable housing, historic and new markets tax credit projects as well as resolving disputes with the IRS.
What do you focus on?
My practice emphasizes structuring and bringing to closure many kinds of tax-advantaged projects, both for investors and those who need their investment. I have advised on an exceptionally wide range of ventures, with sizes from hundreds of thousands of dollars to hundreds of millions. I am especially known for “outside-the-box” solutions. For example, I developed a technique that facilitated more than one hundred million dollars of renewable facilities qualifying for government grants, even though the projects were nominally owned by the government and bond-financed. I enabled another client to obtain a more than $15 million state credit as the first user of a new program by working with the applicable agency even before it had published any rules.
IRS dispute resolution
I have resolved three different multi-million dollar disputes with the IRS with the taxpayer having zero liability. On one occasion I worked with clients and others to get the applicable Tax Code provision changed, thereby ending the audit.
I have worked with countless developers and investors to close hundreds of transactions involving the low-income housing tax credit, including everything from standard ventures to “80-20” deals and “lease pass-throughs” that also involve the historic tax credit. I have written tax opinions enabling a client with an innovative renewable technology to close more than $50 million of tax credit investments.
Industry thought leadership
I work hard to stay at the forefront of the industries in which I am involved. For, example, I have served as chair of the American Bar Association’s 7,000-member Forum on Affordable Housing and Community Development and chair of the 3,000-member MIT Enterprise Forum of Cambridge. I’ve authored a leading treatise on housing and historic tax credits, I’ve written more than 40 articles about renewables, and I am heavily involved in drafting legislation and guidance for the historic rehabilitation industry.