Anthony Provenzano's practice focuses on the tax, ERISA , and other laws impacting executive compensation and employee benefits, as well as the employment tax and reporting issues that may arise with respect to such arrangements. He routinely advises clients on the various rules regarding non-qualified, equity, and tax-qualified arrangements, and the surrounding employment tax and deduction issues. In addition, Mr. Provenzano's practice includes controversy matters involving the IRS, DOL and PBGC exams and disputes.
Mr. Provenzano's extensive experience in executive compensation and employee benefit matters allows him to advise clients on the broader legal implications of an arrangement and how various benefit regimes could interact. His experience in handling controversy matters, involving split dollar arrangements, deferred compensation programs, mispriced stock options, and qualified plans, can also help a client understand how plan language may be viewed by a government examiner or a participant asserting a claim. Clients quoted by Chambers have described Mr. Provenzano as "very thorough and very knowledgeable of the tax code."
Mr. Provenzano is frequently asked to speak on matters regarding executive compensation, including deferred compensation and the attendant payroll tax and reporting obligations with respect to such arrangements, performance-based compensation under Internal Revenue Code Section 162(m), defending against IRS executive compensation and employment tax audits, proxy disclosure of executive perks, and the new IRS guidance regarding correction of failures under a Code Section 409A arrangement.
- Advised employer regarding the ERISA and tax implications of borrowing from life insurance policies under split dollar program.
- Advised multinational on U.S. tax law issues, including Section 409A issues, involved portion of global equity incentive scheme dedicated to employees subject to U.S. tax law.
- Advised employer involved in one of the largest bankruptcies in the U.S. with respect to the employer’s pension obligations. This matter involved extensive negotiations with the PBGC regarding the bankruptcy and proposed emergence transactions.
- Frequently advise employers on the payroll tax implications of their executive compensation programs, including the proper FICA procedures.
- Advised a large financial institution regarding the interaction between Section 409A and split-dollar arrangements and assisted in structuring a new arrangement that would comply with Section 409A but retain many of the tax-favorable features of the split-dollar arrangement.
Rankings and Recognition
- Chambers USA: Employee Benefits & Executive Compensation (District of Columbia), 2014 - 2015
- Legal 500: Labor & Employment: Employee Benefits and Executive Compensation, 2013 - 2014
Professional and Community Involvement
- District of Columbia
- New York
- J.D., American University Washington College of Law, cum laude, 1998
- B.A., Pennsylvania State University, 1995