Victor Penico

Victor leads Deloitte’s Consolidated Return practice and specializes in bankruptcies and workouts, utilization of tax attributes (IRC sections 382, 383, and 384), taxable asset acquisitions (IRC sections 338 and 1060), and treatment of contingent liabilities. Victor has extensive experience in government service and representing clients before the government.

Before joining Deloitte Tax, Victor was a senior counsel, senior technician reviewer, and branch chief in the Office of Associate Chief Counsel (Corporate), Internal Revenue Service (IRS). While at the IRS, Victor was responsible for numerous items of published guidance relating to consolidated returns, reorganizations, the treatment of contingent liabilities in taxable and nonrecognition transactions, IRC section 338 elections (to treat certain stock purchases as asset acquisitions), and bankruptcy and workouts. Victor also served as tax counsel on the Senate Finance Committee during the 1995–1996 budget process where he was responsible for corporate, international, financial institution and product, and tax accounting issues.

Victor is the former chair of the American Bar Association Section of Taxation Committee on Affiliated and Related Corporations and is a current member of the Bloomberg BNA Corporate Tax Advisory Board. He is a frequent speaker at mergers and acquisitions/tax conferences hosted by professional organizations such as Practising Law Institute and the American Bar Association, among others.

Victor earned his BA from Pennsylvania State University and his JD and LLM in taxation from George Washington University Law School.