William Sharp
USA Guide 2024
Band 3 : Tax
Band 3
About
Provided by William Sharp
Practice Areas
Taxation, Offshore Tax Compliance, Tax Controversy and Litigation and International Private Client Group
Career
William M. Sharp, Sr. is a tax partner with Holland & Knight and maintains offices in Atlanta, Tampa and San Francisco, where he serves a wide variety of international tax planning and tax controversy cases. With more than 40-plus years of experience, Mr. Sharp provides international and domestic tax advice to a variety of U.S.-based and foreign-based clients, including publicly traded and closely held entities. A significant portion of his practice also focuses on globally oriented high-net-worth clients, with a focus on non-U.S.-based family offices as well as several U.S.-based family offices.
As co-leader of the Holland & Knight Tax Controversy practice, Mr. Sharp has served and continues to serve in a multiplicity of cases before the U.S. Tax Court, the Internal Revenue Service (IRS) Appeals division, and also IRS examination cases. Mr. Sharp has also served as lead counsel or co-counsel to now approaching to well over 1,000 IRS voluntary disclosure cases.
From August 2013 until the end of 2018 Mr. Sharp represented several Swiss-based banking institutions in connection with the U.S. Department of Justice Swiss Bank Program, including the largest bank participating in the program based on Swiss clientele and market share, and also one of the major Cantonal (state) banks, both of which cases were resolved under Category 3 of the program – 0 penalties and a non-prosecution agreement.
Mr. Sharp also has extensive experience in handling matters related to a number of cross-border compliance and disclosure initiatives, including the Foreign Account Tax Compliance Act (FATCA). Mr. Sharp also served as the lead partner in one of the largest FBAR cases litigated today with the case now on appeal to the 11th Circuit Court of Appeals for the second time in the past many years.
Professional Memberships
Mr. Sharp is a member of the American Bar Association, the Florida Bar Association, and a nonresident member of the State Bar of Texas. Mr. Sharp is also active in the Tax Executives Institute, the International Bar Association, the San Francisco Foreign Tax Club, and several other tax-related professional organizations. Mr. Sharp has also been a member of the 1,400-Member of Society of International Business Fellows and served as the chairman of this global business organization and also has served on the board for over 20 years.
Publications
Mr. Sharp has authored and co-authored tax-related articles in Tax Notes International and over a dozen major publications and law reviews over the years, and has published chapters (and spoken) 38 of the past 40+ years at the largest international tax conference in the U.S. (the Florida Bar Tax Section and FICPA Annual International tax Conference.
Personal
Mr. Sharp actively participates in supporting non-profit organizations, including the Society of Business Fellows (see above), as well as serving as a member of the Board of Councilors of the Atlanta-based Carter Center. Mr. Sharp has also supported a number of other non-profit organizations, particularly in developing countries, where he has been an active participant in a full scholarship Dominican Republic-based kindergarten through high school and now having a Nursing college outside of Santiago. Mr. Sharp also is the global legal advisor to a Harari-based, Zimbabwe highly diversified and low tuition cost school for kindergarten through high school, for the past 6 years.
Chambers Review
USA
William Sharp advises companies and high net worth individuals on planning matters, as well as handling tax controversies.
Articles, highlights and press releases
13 items provided by Holland & Knight LLP
IRS Proposes to Classify Basket Contracts as a Tax Avoidance Scheme
The U.S. Department of the Treasury and IRS on July 11, 2024, issued proposed regulations that would classify certain basket contract transactions as listed transactions.
IRS Targets Owners of Professional Sports Franchises Regarding Tax Reporting
The IRS recently announced a new enforcement campaign that targets and investigates sports industry partnerships reporting significant tax losses.
New Treasury Regulations Revise Taxation of U.S. Persons Owning Foreign Corporations
In an unanticipated development, the U.S. Department of the Treasury (Treasury) and Internal Revenue Service (IRS) recently issued regulations (New Guidance) that significantly modifies the taxation of U.S. persons owning stock of foreign corporations through domestic partnerships.
Contract Allocations and Judicial Doctrines
District Court Case Applies Strong Proof Test to Boxing Contracts to Address Puerto Rico Source Income
When IRS Penalty Assertions Are Unlawful
One of the most highly litigated issues in U.S. Tax Court is whether taxpayers are liable for certain penalties, additions to tax or additional amounts (each, a "penalty" and collectively, "penalties").
Biden Administration's FY 2022 Budget and Its Tax Increases for Corporations, Wealthy
By way of background, the budget that the president submits to Congress contains estimates of federal government income and spending for the upcoming fiscal year and also recommends funding levels for the federal government.
Biden Administration's FY 2022 Budget and International Tax Changes
A previous Holland & Knight alert provided an overview of corporate and individual income tax increases as detailed in the U.S. Department of the Treasury May 2021 "Green Book." (See "Biden Administration's FY 2022 Budget and Its Tax Increases for Corporations, Wealthy," June 3, 2021.)
Offshore Lenders Targeted by IRS Audit Campaign
Since 2017, the Internal Revenue Service (IRS) Large Business and International Division (LB&I) has shifted its audit efforts to issue-based examinations, premised on strategically identified and prioritized areas of compliance risks to address taxpayer compliance.
IRS Provides COVID-19 Emergency Relief to NRAs Stranded in the United States
READ: IRS Provides COVID-19 Emergency Relief to NRAs Stranded in the United States (Subscription required)
Biden Administration Tax Priorities: Prospects for Enactment
Attorneys Alan Granwell, Ronald Klein, William Sharp and Meital Stavinsky co-authored an article previewing tax changes and priorities under the Biden Administration.
Eighth Circuit Reversal in U.S. Virgin Islands Case Raises Important Statute of Limitation Concerns
The GILTI High-Tax Exception: Is it a Viable Planning Option?
The IRS issued the Global Intangible Low-Taxed Income (GILTI) high-tax exclusion final regulations on July 20, 2020.
The ABCs of Expatriation in These Chaotic Times
Expatriation has increased significantly in 2020. The latest U.S. Department of the Treasury Report reflects that a record 6,047 individuals expatriated during the first three quarters of 2020. In addition, 834,000 "green card" holders became U.S. citizens in FY 2019, which reflects an 11-year high.
IRS Proposes to Classify Basket Contracts as a Tax Avoidance Scheme
The U.S. Department of the Treasury and IRS on July 11, 2024, issued proposed regulations that would classify certain basket contract transactions as listed transactions.
IRS Targets Owners of Professional Sports Franchises Regarding Tax Reporting
The IRS recently announced a new enforcement campaign that targets and investigates sports industry partnerships reporting significant tax losses.
New Treasury Regulations Revise Taxation of U.S. Persons Owning Foreign Corporations
In an unanticipated development, the U.S. Department of the Treasury (Treasury) and Internal Revenue Service (IRS) recently issued regulations (New Guidance) that significantly modifies the taxation of U.S. persons owning stock of foreign corporations through domestic partnerships.
Contract Allocations and Judicial Doctrines
District Court Case Applies Strong Proof Test to Boxing Contracts to Address Puerto Rico Source Income
When IRS Penalty Assertions Are Unlawful
One of the most highly litigated issues in U.S. Tax Court is whether taxpayers are liable for certain penalties, additions to tax or additional amounts (each, a "penalty" and collectively, "penalties").
Biden Administration's FY 2022 Budget and Its Tax Increases for Corporations, Wealthy
By way of background, the budget that the president submits to Congress contains estimates of federal government income and spending for the upcoming fiscal year and also recommends funding levels for the federal government.
Biden Administration's FY 2022 Budget and International Tax Changes
A previous Holland & Knight alert provided an overview of corporate and individual income tax increases as detailed in the U.S. Department of the Treasury May 2021 "Green Book." (See "Biden Administration's FY 2022 Budget and Its Tax Increases for Corporations, Wealthy," June 3, 2021.)
Offshore Lenders Targeted by IRS Audit Campaign
Since 2017, the Internal Revenue Service (IRS) Large Business and International Division (LB&I) has shifted its audit efforts to issue-based examinations, premised on strategically identified and prioritized areas of compliance risks to address taxpayer compliance.
IRS Provides COVID-19 Emergency Relief to NRAs Stranded in the United States
READ: IRS Provides COVID-19 Emergency Relief to NRAs Stranded in the United States (Subscription required)
Biden Administration Tax Priorities: Prospects for Enactment
Attorneys Alan Granwell, Ronald Klein, William Sharp and Meital Stavinsky co-authored an article previewing tax changes and priorities under the Biden Administration.
Eighth Circuit Reversal in U.S. Virgin Islands Case Raises Important Statute of Limitation Concerns
The GILTI High-Tax Exception: Is it a Viable Planning Option?
The IRS issued the Global Intangible Low-Taxed Income (GILTI) high-tax exclusion final regulations on July 20, 2020.
The ABCs of Expatriation in These Chaotic Times
Expatriation has increased significantly in 2020. The latest U.S. Department of the Treasury Report reflects that a record 6,047 individuals expatriated during the first three quarters of 2020. In addition, 834,000 "green card" holders became U.S. citizens in FY 2019, which reflects an 11-year high.