Mark Leeds

A leading advisor in litigation finance transactions, Mark’s clients include some of the largest firms in the market obtaining exposure to litigation recoveries, and he also represents companies and firms accessing capital through this market. Mark has been one of the leading tax advisors to the life settlement market for over 20 years. He has led teams in fund formation, developing and implementing structures for large institutional investors to obtain exposure to this market and working with cross-border structures for private clients.

Mark regularly works with insurance companies in structuring products that provide risk-based exposures to financial market returns, including private placement life insurance and annuities, as well as with U.S.- and non-U.S.-based financial institutions on tax issues presented by cross-border dealing operations, including the base erosion and anti-avoidance tax (BEAT), interest expense limitations, and the sale and development of financial products for both U.S. and non-U.S. clients. He is a market-recognized authority in tax issues presented by securities lending transactions, swaps, futures and forward contracts.

Mark has a substantial advisory practice for companies with significant net-operating losses. He regularly advises such companies how to best structure operations and capital infusions in a manner that passes the numerous U.S. tax code limitations imposed on the use of such attributes. These strategies allow loss companies to rehabilitate their businesses and use their existing tax attributes to shelter income during this process.

• “Using Insurance Related Strategies for Non-U.S. Investor Private Market Investments,” Journal of Taxation of Investments, September 13, 2022.
• Speaking Engagements
  • “The BOXX Anomaly: ETF Tax Enhances Inverted Yield Curve Strategy,” New York State Society of Certified Public Accountants meeting, December 19, 2024. Speaker.
  • “Analysis of Recent Court Decisions Affecting Private Investment Funds, PIF Tax and Accounting,” FRA Private Funds conference, December 11, 2024. Panelist.
  • “PLI Advanced Swaps & Other Derivatives 2024,” Practicing Law Institute 2024 conference on Advanced Derivatives, October 21, 2024. Speaker.
  • “Puerto Rico Residency Tax Incentives and Audit Risks for U.S.-Based Individuals and Businesses,” Strafford webinar, September 4, 2024. Speaker.
  • “NBA Cannabis Taxation Update,” NBI webinar, August 19, 2024. Speaker.
  • “New Tax Reporting Due Diligence Rules for Partnerships, Cryptocurrency and REITs,” NBI webinar, June 24, 2024. Speaker.
  • “Taxing Litigation Finance,” American Bar Association Tax Section May meeting, May 3, 2024. Panelist.
  • “YA Global Tax Court Decision Discussion,” New York State Society of Certified Public Accountants Technical Meeting, March 7, 2024. Speaker.
  • “Tax Implications of Private Fund Activities for Non-U.S. Investors Following YA Global,” Strafford webinar, February 6, 2024. Speaker.
  • “The YA Global Decision: Understanding Its Implications for Credit Funds and Securitization Vehicles,” International Tax Institute webinar, January 23, 2024.
  • 13th Annual London Finance and Capital Markets Conference, January 15 – 16, 2024. Speaker.
  • New York State Society for CPA Financial Instrument conference, January 9, 2024. Speaker.
  • “Reporting Issues for Investment Partnerships Panel,” FRA PIF Tax & Accounting conference, December 6, 2023. Panelist.
  • “Digital Assets Trading and Investing,” Beryl Elites Investments conference, November 6, 2023. Speaker.
  • “Derivatives Taxation,” Practicing Law Institute, October 23 – 24, 2023. Panelist.
  • "It’s Déjà Vu All over Again – The New Book Minimum Tax Panel,” Federal Income Tax Update, TEI Chicago Chapter, May 2, 2023. Panelist.
  • “The Essentials of Crypto Tax Loss Harvesting” Private Investment Fund Tax Master Class, May 1, 2024. Speaker.
  • “Securitization and Derivatives” International Bar Association’s 12th Annual London Finance & Capital Markets conference, January 16, 2023. Speaker.
  • “Litigation Finance – A New Asset Class,” New York State Society of Certified Public Accountants Annual Hedge Fund conference, January 10, 2023. Speaker.
  • “Crypto, Blockchain and FinTech – Can Tax Keep Pace with Technology?” International Bar Association (IBA) Annual conference, November 3, 2022. Speaker.
  • “Derivatives Taxation,” Practicing Law Institute, October 18 – 19, 2022. Panelist.
  • “Puerto Rico Financial Service Companies – Navigating U.S. Tax Risks,” Puerto Rico Financial Forum, October 18, 2022. Speaker.
  • “Tax Audits and Controversies,” Institute of International Bankers, September 13, 2022. Panelist.
  • “Digital Assets – Taxation,” The Beryl Consulting Group’s 4th Annual Alternative Investments & Innovation Conference, June 20, 2022. Speaker.
  • “Offshore Lenders: Loan Origination Essentials Not to Be Missed,” FRA Private Investment Fund Tax Master Class, May 23, 2022. Speaker.
  • “Puerto Rico Act 60 Tax Exemptions: IRS Examination and Audits, Key Issues for Individual and Business Taxpayer,” Strafford webinar on “Puerto Rico Act 60 Tax Exemptions,” May 17, 2022. Speaker.
  • “Strategies for Concentrated Positions in Company Stock,” myStockOptions.com webinar, May 4, 2022. Panelist.
  • TEI Chicago Virtual Corporate Tax Session, February 2, 2022. Speaker.
  • “Derivatives Taxation,” Practicing Law Institute, October 19, 2021. Panelist.
  • NYS Society of Certified Public Accountants TFI Committee meeting, September 2, 2021. Speaker.
  • “What’s New in Opportunity Zone Legislation and Practices in Our Post-COVID Economy,” 2021 Opportunity Zone Expo, July 15, 2021. Panelist.
  • “Strategies for Concentrated Positions in Company Stock,” myStockOptions.com webinar, May 26, 2021. Speaker.
  • “New IRS Audit Campaign for Puerto Rico Act 20 and Act 22 Grantees: Key Issues for Individual and Business Taxpayers,” Strafford’s Virtual Program, May 4, 2021. Panelist.
  • “Derivatives Taxation,” Practicing Law Institute, October 20, 2020. Panelist.
  • TEI’s Financial Instruments and Strategies/Accounting Periods and Methods, March 3, 2020. Speaker.
  • Mortgage REIT Summit 2019, May 9, 2019. Speaker.
•  Board and Association Activities
  • Member, Committee of Banking Institutions on Taxation
  • Member, Institute of International Bankers
  • Member, New York State Bar Association, Tax Section
  • Member, American Bar Association
  • Member, The Tax Club
  • Member, International Swaps and Derivatives Association (ISDA)
  • Trustee, Best Buddies of New York
• Media Coverage
  • Featured in TaxNotes article, “High-End Life Insurance Policies Lured Offshore by Relaxed Rules,” September 25, 2024.
  • Featured in TaxNotes article, “Tax Pro Questions Tax Court’s Dealer Analysis in YA Global,” January 24, 2024.
  • Quoted in TaxNotes article, “Hedge Fund Lender Has U.S. Trade or Business,” December 4, 2023.
  • Featured in 9Fin article, “Smaller Funds Nervous as IRS Targets ‘Season and Sell’ Structure,” August 30, 2023.
  • Featured in TaxNotes article, “Income Recognition for Crypto Staking,” August 21, 2023.
  • Featured in The Messenger article, “Why IRS Spotlight Could Fall on Logan Paul and Other Rich Americans in Puerto Rico,” August 7, 2023.
  • Featured in Bloomberg article, “IRS Probes Puerto Rico Tax Breaks That Lured Crypto Traders, Fund Managers,” July 12, 2023.
  • Featured in TaxNotes article, “Crypto Staking and Administrative Vacillation,” November 21, 2022.
  • Featured in The Bond Buyer article, “Muni Case Shows Brokerage Client Could Seek Damages from Inaccurate Tax Reporting,” August 17, 2022.
  • Featured in Forbes article, “Financial-Planning Strategies to Manage Risk in Concentrated Stock Positions,” June 2, 2022.