Richard Pelak is the Senior Tax Manager for CEC Advisors. His primary focus is representing clients in federal and state tax matters. This includes personal and business tax planning, consulting and compliance, and representation before the IRS and other taxing authorities. He also assists clients in the areas of succession planning, estate planning, and various business transactions.
Rich has extensive experience in international tax matters and, in recent years, has been heavily involved in offshore bank account reporting issues. He has experience in compliance with the offshore voluntary disclosure issues and IRS amnesty programs. He has worked extensively with clients in analyzing foreign accounts and preparing the necessary tax filings. For more information, see Offshore Foreign Bank Account Reporting (FBAR) and International Tax Planning.
He was a member of the Moot Court Bench, co-chair of the Craven Moot Court Competition and a member of the Order of Barristers.
Prior to joining the firm in 2000, Rich served four years as a Magistrate for the State of North Carolina in Mecklenburg County.
- Katherine Guthrie Silver Medal recipient, November 2000
- Obtained full IRS concession by appealing IRS proposed adjustments disallowing business losses under the Hobby Loss Rules.
- Oversee income tax compliance filings for real estate business including returns for multiple partnerships, S corporations and trusts.
- Advise clients on various US reporting requirements associated with foreign financial assets and foreign entities.
- Assist client in developing and implementing a business entity structure for multistate professional services organization.
- Panel Moderator, “Even More About Penalties,” ABA Tax Section 2019 May Meeting, May 11, 2019
- Panel Moderator, “Civil and Criminal Tax Penalties – It’s All About the Penalties,” ABA Tax Section 2018 Fall Meeting, October 6, 2018.
- “FBAR and PFIC Compliance – A detailed presentation on the Foreign Bank Account Report (FBAR) and FINCEN114, as well as Passive Foreign Investment Company (PFIC) rules,” 13th Annual North Carolina/South Carolina/Georgia Tax Section Workshops, May 25, 2014.
- Hot Topics for Accountants & Tax Lawyers: Tax Returns, Advice & Examination, Advising Clients with International Tax Issues: Form Numbers, PFIC and More!, American Law Institute Continuing Legal Education, Diane Mehany, Caplin & Drysdale, Washington, DC (Invited), Rich Pelak, Culp Elliott & Carpenter (Invited), December 16, 2013.
- “Handling IRS Civil Tax Cases: Audits, Administrative Appeals and Litigation,” Mecklenburg County Bar, April 26, 2013.