James Warren represents utilities in all aspects of federal tax matters. These matters include operational and transactional tax advice and representation in tax controversies with the Internal Revenue Service (IRS) at the audit and appeals level, as well as in connection with applications to the IRS National Office for private letter rulings and technical advice. Mr. Warren also advises many clients on a variety of tax accounting issues. He has proven experience developing broad-based tax solutions for utility companies that reflect the critical tax, accounting and regulatory perspectives.
Mr. Warren has developed strategic analyses of the tax consequences of deregulation and restructuring for electric industry clients and has developed financial and regulatory options for minimizing the impact of taxes incurred during that process. In this regard, he has assisted clients in the structuring of fossil fuel and nuclear plant transfers (including decommissioning liabilities for the latter), the realignment of contractual relationships, the structural reconfiguration of businesses and many of the regulatory implications of these activities. In addition, he has assisted utility clients with their participation in alternative energy investments including designing programs intended to promote the development of solar generation in their service territories and in trying to achieve commercial parity with non-regulated competitors.
Mr. Warren has assisted utilities and their regulators in identifying and resolving tax normalization problems by obtaining guidance from the IRS National Office. He is experienced in contesting IRS coordinated utility and other issues on behalf of utility clients and has represented entire utility industry segments in opposition to certain positions adopted by the IRS. More >
- Addressing with the IRS National Office the issue of the assignment of the value of a plant-specific purchase power agreement to the related generating plant.
- The procurement from the IRS National Office of multiple private letter rulings requiring the recognition of net operating losses in the establishment of utility rates.
- Representation of the owners of nuclear generating plants before the IRS and Treasury in proposing modifications to the tax rules applicable to funding the decommissioning of those plants.
Rankings and Recognition
- Chambers USA: Tax (District of Columbia), 2010 - 2015
- International Tax Review: Tax Controversy Leaders (U.S.), 2015
- Legal 500: Tax: Domestic Tax, 2013, 2015
- Legal 500: Tax: Tax Controversy, 2013
Professional and Community Involvement
- Former Chair, Section of Taxation, Committee on Regulated Public Utilities, American Bar Association
- District of Columbia
- New York
- New Jersey
- M.S. (Accounting), New York University’s Leonard N. Stern School of Business, 1980
- LL.M., New York University School of Law, 1979
- J.D., New York University School of Law, 1975
- B.A., Stanford University, 1971