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Overview
Stephen J. Turanchik is an attorney in the Tax practice of Paul Hastings and is based in the firm’s Los Angeles office. Mr. Turanchik's practice focuses on tax controversy and litigation at the state and federal levels and tax advice on international reporting.
Mr. Turanchik previously litigated for six years for the U.S. Department of Justice, Tax Division, Civil Trial Section out of Washington, DC. Mr. Turanchik has substantial litigation experience. During his tenure with the Tax Division, Mr. Turanchik handled hundreds of tax cases in federal, bankruptcy, state and probate court. He received an Outstanding Attorney award from the Tax Division in 2003.
Education
- B.A. in Economics from the College of the Holy Cross, May 1992.
- J.D. from Fordham University School of Law, May 1995
- LL.M. in Taxation from New York University School of Law, May 1999.
Representations
- Represented multi-billion dollar U.S. pension funds in European refund claim suits in excess of $50 million
- Served as international tax reporting subject matter expert for independent examiner in U.S. Department of Justice Swiss Bank Program
- Represented bank holding company in U.S. Bankruptcy Court regarding tax allocation agreement of $50 million and income tax refunds in excess of $7 million.
- Defended internet service provider in employment tax audits in New York, California and Washington State
- Provided tax advice to investment managers and financial institutions on compliance obligations under the Foreign Account Tax Compliance Act
- Defended virtual currency exchange in examination by Department of Treasury Financial Crime Enforcement Network
- Advised clients on tax consequences relating to expatriation from the United States
Notable Published Court Decisions
- Blum v. Comm’r, T.C. Memo. 2012-16, 2012 WL 129801 (2012)
- Samueli v. Comm’r, 132 T.C. 37 (2009)
- In re Anton Noll, Inc., 277 B.R. 875 (1st Cir.BAP 2002)
- Nault v. United States, 99 AFTR2d 2007-1027 (D.N.H. 2007)
- Subash v. I.R.S., 514 F.Supp.2d 114 (D.Mass. 2007)
- Johansen v. United States, 2006 WL 4391304 (D. Mass. 2006)
- United States v. City of Cambridge, 98 A.F.T.R.2d (RIA) 5895 (D. Mass. 2006)
- United States v. Verduchi, 95 A.F.T.R.2d (RIA) 2168 (D.R.I. 2005)
- Stuart v. United States, 89 A.F.T.R.2d (RIA) 540 (D. Mass 2002) aff’d, 337 F.3d 31 (1st Cir. 2003)
news
insights
- Updated: Date for Digital Asset Reporting is Here–Although Regs Have Not Been Promulgated - January 12th, 2024
- Digital Asset Reporting is Here - January 4th, 2024
- Digital Asset Payment Processors Will be Required to Report Consumers’ Digital Asset Transactions - September 18th, 2023
- IRS Issues Proposed Regulations for Digital Asset Reporting - September 15th, 2023
- The IRS Can Obtain Your Bank Records Without Your Knowledge - May 24th, 2023
- IRS Delays Reporting Requirements on Digital Assets for “Brokers” But Not Businesses that Receive Digital Assets in Excess of $10,000 - December 27th, 2022
- IRS Delays Implementation of $600 Reporting Threshold for Forms 1099-K - December 27th, 2022
- The Crypto Tax Man Cometh - August 3rd, 2021
- PH COVID-19 Client Alert Series: Q&A on the Employee Retention Credit - April 1st, 2020
- PH COVID-19 Client Alert Series: Business Tax Provisions of the CARES Act - March 27th, 2020
- PH COVID-19 Client Alert Series: When Can Employers Claim Payroll Tax Credits For Coronavirus-Related Leave? - March 26th, 2020
- PH COVID-19 Client Alert Series: Employers May Qualify for Significant Tax Credits and Government Reimbursements to Cover Paid Coronavirus-Related Leave - March 24th, 2020
- PH COVID-19 Client Alert Series: New Legislation on Paid Sick Leave and Employer Tax Credits - March 20th, 2020
- IRS Issues Long-Awaited Guidance on Virtual Currency - October 14th, 2019
- States Prevail Over E-Commerce Companies in Battle for Sales Taxes - July 18th, 2018
- IRS Will End Offshore Voluntary Disclosure Program in September 2018 - March 27th, 2018
- No Corporate Tax Deduction for Sexual Harassment or Sexual Abuse Settlements? - November 16th, 2017
- Information Returns for Employers: Deadlines Moved Up and Penalties Increased - July 21st, 2016
- California Taxes Based Upon Information Returns: Using a California Address for Out-of-State Workers Causes California Assessments - April 26th, 2016
- For Bankruptcy Purposes, the Ninth Circuit Bankruptcy Appellate Panel Asks: When is a Tax Return Not a Tax Return? — Then Provides An Answer Different From Other Circuits’ - January 6th, 2016
Engagement & Publications
- How to Handle an IRS Summons and Other Related Stuff, CalCPA Beverly Hills Hollywood Discussion Group, June 14, 2019, CalCPA Pasadena Discussion Group, July 29, 2019
- Cryptocurrency Mining and Investing Operations: How to Account for Them, Accounting and Finance Show, July 23, 2019
- Taxation of Virtual Currency (An Update), CalCPA San Fernando Valley Discussion Group, July 9, 2019
- U.S. Taxation and Regulation of Cryptocurrency, Pasadena Bar Association, April 19, 2019
- Foreign Disclosure Issues and Bitcoin Reporting, Westside Business Manager Roundtable, March 4, 2019
- CPA-Client Privilege: Confidentiality and Limitations, Lorman Webinar, recorded February 27, 2019
- Foreign Disclosure Issues: Fixing the Past, AICPA National Tax Conference, November 13, 2018
- Understanding CPA Communication Privileges in Tax Practice, AICPA National Tax Conference, November 13, 2018
- Where Do We Stand Today With Taxing and Regulating Cryptocurrency, AICPA National Tax Conference, November 12, 2018
- U.S. Taxation and Regulation of Cryptocurrency, Integra International Webinar, September 27, 2018
- Defending IRS Audits and Collections, Webcredenza Webinar, recorded on August 1, 2018
- International Tax Enforcement and Compliance, Philippine American Society of Certified Public Accountants - Los Angeles, June 16, 2018
- Taxation of Virtual Currency, San Fernando Valley CPA Discussion Group, June 5, 2018
- Non-Traditional Issues Associated with the New Partnership Audit Rules, Don’t Let Your Child Grow Up to be a Partnership Representative, USC Tax Institute, January 2018
- When the Past Isn’t the Past, Correcting Past Wrongdoing, USC Tax Institute, January 2018
- Foreign Asset Reporting and Enforcement in Today’s World, American Institute of Certified Public Accountants, November 7, 2017
- Demystifying Virtual Currency, AICPA National Tax Conference, November 7, 2017
- The IRS and DOJ Continue to Prioritize Employment Tax Enforcement – Are You and Your Clients Prepared? California Tax Bar & California Tax Policy Conference 2017 Annual Meeting, November 2, 2017
- Foreign Account Tax Compliance Act, IRS International Enforcement Presentation, Loyola Law School, October 4, 2017
- New Developments in Taxation, CalCPA Santa Clarita Discussion Group, August 4, 2017
- Taxation of Settlements: The Pitfalls Every Litigator Needs to Know About, Beverly Hills Bar Association, June 7, 2017
- You Settled, Now What About the Taxes?, JAMS Mediation ADR Services, April 19, 2017
- When the Company Is the Target: Ethical and Other Issues, USC Tax Institute, January 24, 2017
- Demystifying Virtual Currency, CalCPA Beverly Hills Hollywood Discussion Group, January 20, 2017
- Disclosure of Foreign Interests and IRS International Enforcement Priorities, Chinese American CPA Association, October 21, 2016
Involvement
Adjunct Professor
- Loyola Law School, LL.M. Program, Income Taxation of Property Transactions, Summer 2013, Fall 2014, Fall 2015, Fall 2016, Fall 2017, Fall 2018, Fall 2019
- Golden Gate University, Masters of Taxation Program, Taxation of Property Transactions, Fall 2009, Fall 2010 and Fall 2011
Bar Association Leadership Positions
- Los Angeles County Bar Association, Taxation Section
- Executive Committee, Chair 2014-2015
- Coordinated the 2012 LACBA/California State Bar Tax Section Delegation from May 6-8, 2012.
- California State Bar, Taxation Section
- Corporate and Pass-Through Entities Committee, Chair, 2012-2015.