KPMG LLP, the U.S. audit, tax, and advisory firm, appoints Howard Steinberg as national leader of its Tax Restructuring and Corporate Recovery practice. In this role, Steinberg will lead the firm’s efforts to provide tax-related assistance to clients and prospective clients who are considering restructuring their businesses or other alternatives in the current economic environment.
Steinberg, a KPMG M&A Tax practice partner, will draw on the firm’s national network of professionals who are experienced in applying their extensive knowledge of tax laws to business operations, as well as the bankruptcy and restructuring process, to effectively serve stressed and distressed companies.
Steinberg brings extensive experience to his new role. Throughout his career, and especially during the recessions of the early 1990s and 2001-2003, he specialized in providing tax advice on restructuring to both debtor companies and to their acquirers. In addition to his CPA, he is a Certified Insolvency and Restructuring Advisor and a member of the American Bankruptcy Institute.
“The recent turmoil in the credit markets and the ensuing economic slowdown has placed many companies in a precarious financial position,” says Steinberg. “A company facing financial difficulty should be aware of the significant tax issues that can arise due to restructuring or reorganizing its business. By involving our Tax team in the restructuring process as early as possible, we can work most effectively for our clients at each phase of a company’s reorganization.”
L.D.