Kevin Powers

Kevin Powers

Partner at Crowe Horwath LLP

Location
Greater Chicago Area
Industry
Accounting

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Kevin Powers's Overview

Current
Education
Connections

384 connections

Kevin Powers' Experience

Partnership; 1001-5000 employees; Accounting industry

September 1993Present (21 years 1 month)

Kevin Powers' Skills & Expertise

  1. Corporate Tax
  2. Financial Institutions
  3. New Markets Tax Credit
  4. Mergers
  5. Income Tax
  6. Tax Accounting
  7. Banking
  8. Mergers & Acquisitions
  9. CPA
  10. Tax
  11. Internal Controls
  12. Tax Research

Kevin Powers' Publications

  • Sec. 382 Operating Rules: Actual Knowledge Regarding Stock Ownership

    • The Tax Adviser
    • September 1, 2011
  • Deductibility of Nonqualified Deferred Compensation in Mergers and Acquistions

    • The Tax Adviser
    • September 2007
  • What's New With the New Markets Tax Credit?

    • The Tax Adviser
    • September 1, 2012
    Authors: Kevin Powers

    On Dec. 5, 2011, the IRS published final regulations relating to how entities serving targeted populations can meet the requirements to be a qualified active low-income community business under the provisions of the New Markets Tax Credit program. The CDFI Fund also announced that it completed the first stage of its transition to updated NMTC program eligibility based on new census data.

  • Tax Conundrum: How to Handle the Purchase of an "S" Corporation

    • BankDirector.com
    • December 13, 2012
    Authors: Kevin Powers

    Approximately one-third of all banks in the United States are organized as subchapter S corporations. Since a potential buyer is likely to encounter a seller that is a subchapter S bank, it is important to understand the unique tax consequences to the selling corporation and its shareholders.

  • Can a Capital Raise Jeopardize Your Tax Assets?

    • BankDirector.com
    • January 30, 2013
    Authors: Kevin Powers

    In the wake of the worst financial crisis in decades, many financial institutions are still looking for capital to satisfy regulatory demands and improve their balance sheets. But this new capital might come with a price - namely, loss of deferred tax assets due to Internal Revenue Code Section 382.

  • ATNOLs and Charitable Contribution Carryovers: Which Takes Precedence?

    • The Tax Adviser
    • September 1, 2013

    Due to the most recent economic downturn, many corporate taxpayers accumulated significant carryovers of net operating losses (NOLs), alternative minimum tax (AMT) net operating losses (ATNOLs), and charitable deductions. As these corporations recover and generate taxable income, the use of these carryover items is becoming more prevalent, and one of the issues arising is the interplay of the 10% limit on charitable deductions and the 90% limit on ATNOLs.

Kevin Powers' Education

University of Illinois at Urbana-Champaign - College of Business

BS, Accounting

19891993

Activities and Societies: LaCrosse Club

Kevin Powers' Additional Information

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