A risk management officer of a New Jersey authority and a tax partner at a law firm in Chicago have been tapped to join the three-member tax-exempt bond group of an Internal Revenue Service advisory committee.
Katherine A. Newell, director of risk management and ethics liaison officer at the New Jersey Educational Facilities Authority in Princeton, N.J., and Lorraine Tyson, a tax partner in the public finance practice group at Pugh, Jones & Johnson PC in Chicago, will take their seats on the panel after its June 6 meeting here.
The tax-exempt bond group is part of the 21-member IRS Advisory Committee on Tax-Exempt and Government Entities, which is holding the public meeting here next month.
At that meeting, the current tax-exempt bond group — J. Sue Painter, chief investment officer and treasurer for the nonprofit Providence Health & Services in Seattle, David Cholst, a partner at Chapman and Cutler LLP in Chicago, and George Magnatta, chairman of the public finance department at Saul Ewing LLP in Philadelphia — will present a report on the recent changes the IRS has made to informational forms that muni bond issuers and nonprofit groups must file with it.
After the meeting, Newell and Tyson will replace Cholst and Magnatta and serve two-year terms. Painter will remain on the tax-exempt bond group for another year.
Newell is responsible for developing and implementing post-issuance compliance policies and procedures at the NJEFA. She is a member of the Government Finance Officers Association’s committee on governmental debt management. As a member of both the GFOA and the National Association of Bond Lawyers, Newell recently worked with the two groups on the joint development of a post-issuance compliance checklist.
She also is chairwoman of the educational facilities panel for NABL’s annual Bond Attorneys Workshop.
Newell received a master of laws degree in taxation from Georgetown University School of Law, a law degree from Villanova University School of Law in Villanova, Pa., and a bachelor’s degree in mathematics from Temple University in Philadelphia.
Tyson advises clients on federal tax and securities law issues that arise in public finance and privatization transactions. She also serves as a tax controversy lawyer to issuers and other market participants in bond transactions audited by the IRS. She is a member of the American Bar Association’s tax-exempt financing committee and NABL’s tax committee.
Tyson received a master of laws degree in taxation from Northwestern University School of Law in Chicago, a law degree from the University of Illinois College of Law and a bachelor’s degree from Northwestern University.