Principal Income Tax and Accounting group

Eric Lucas joined KPMG’s Tax Practice on October 3, 2011 as a principal in the Income Tax and Accounting group. Eric’s practice focuses on the emerging issues associated with the capitalization / repair expense regulations, inventories, cost recovery and many other matters involving methods of accounting and general tax principles.

Professional and Industry Experience
Eric recently left the U.S. Department of the Treasury’s Office of the Tax Legislative Counsel, where he served as an attorney advisor. In this role, Eric was a member of the working group that revised the 2008 proposed repair regulations in response to practitioner and taxpayer comments. The working group included a number of key government officials from the IRS Office of Chief Counsel (for example, capitalization and depreciation specialists) and the IRS Commissioner’s office. In addition to focusing on the repair regulations, Eric worked with IRS personnel in crafting guidance on a number of difficult accounting methods issues involving section 263A, the retail inventory method, LIFO, and income and expense recognition.  Eric also worked with congressional tax writing committees in developing tax legislation while at Treasury. Eric has over 13 years (including three years with the Treasury Department) of professional experience that includes positions with the IRS Chief Counsel’s Income Tax and Accounting Division and the accounting methods practices of the Big Four accounting firms.  

Publications and Speaking Engagements
Eric is a frequent speaker to such groups as the Tax Section of the American Bar Association, the American Institute of Certified Public Accountants, the Federal Bar Association and on several occasions was a guest presenter for Georgetown University’s LL.M. program in taxation.