Thomas M. Cryan, Jr. focuses his practice on various tax matters including executive compensation, fringe benefits and employment tax areas. He consults with clients on tax audits, and with drafting and amending fringe benefit policies and compensation plans. Tom also assists clients in structuring compensation arrangements to comply with Section 162(m) of the Internal Revenue Code. Tom also has significant expertise in the application of Code section 3121 (FICA) and the deduction rules under Code Section 274.
Tom has substantial experience in employee benefits and information reporting, in particular, dealing with the income and employment tax treatment of settlement payments, use of corporate aircraft, statutory fringe benefits, nonqualified deferred compensation, travel benefits and wellness programs. In addition, Tom has assisted clients with the state tax implications of mobile workforces.
Tom has also represented clients before the IRS and the U.S. Department of Treasury in connection with policy initiatives.
In his recent matters, Tom has:
- Represented a Fortune 100 company at IRS appeals on the tax treatment of relocation reimbursements and use of corporate aircraft. IRS conceded the issues in full.
- Obtained more than a dozen Section 162(m) private letter ruling (PLRs) over the last 10 years.
- Assisted a large financial institution in internal restructuring in order to avoid the FICA restart provisions and therefore reduce the company's out-of-pocket employment tax costs) while at the same time addressing the company's concerns regarding its internal payroll tax administration.
- Represented a large manufacturing company in protesting a large employment tax deposit penalty. Penalty was abated at IRS Appeals.
- Assisted an employer with highly mobile workforce in designing internal procedures for the proper taxation of travel reimbursements and per diem payments at both the state and federal level.
Tom is a frequent speaker for the Tax Executive Institute, the American Bar Association and the American Benefits Council. Previously, he clerked for the Honorable Joel Gerber of the United States Tax Court.