Mary Burke Baker
Mary Burke Baker is a government affairs counselor, where she leads the Tax Policy practice. Mary focuses on federal tax matters affecting domestic and multinational corporations and pass-through entities. Her practice covers tax policy, tax reform, tax regulations and other guidance, tax administration, and technical tax issues.
Mary particularly enjoys working hand-in-hand with clients to fully understand their businesses and technologies to help them achieve their policy goals in order to advance their policy goals in order to advance their business goals.
Mary’s many years of experience at the IRS, the Senate Finance Committee, and the firm have uniquely prepared her to help clients navigate the entire life cycle of tax policy, including tax administration, the regulatory process, and the legislative process.She works on a wide array of clean energy tax credits to help clients understand eligibility requirements, develop comments for Treasury, and identify ways incentives can be improved in future legislation. Other issues include GILTI, FDII, LIFO inventory, donor advised funds, exchange traded funds, corporate tax rates, excessive employee compensation, R&E amortization, various other corporate and shareholder issues, IRS penalties, the OECD global framework (Pillar One and Pillar Two) and related actions in the EU, Opportunity Zones, cannabis, and digital assets.
Mary helps clients identify and assess risks and opportunities in the ever-changing legislative and regulatory environment and develops and executes strategies to achieve desired legislative and administrative outcomes, ranging from changes to the tax code to shaping regulatory guidance—including several successes in recent legislation. She advocates on behalf of clients before the Congress, Treasury, and the IRS. She offers technical analysis and drafts comment letters in response to regulatory projects, working groups, and other tax policy initiatives. She represents coalitions representing the largest multinational corporations and innovative small businesses, and also leads coalitions, latter including the Cash to Accrual Coalition and the Like-kind Exchange Coalition. She is a member of the steering committee of the LIFO Coalition.
Mary believes that communication and collaboration is important, including working with clients to understand their business in order to better understand their policy needs, and with colleagues, other federal agencies, the Hill, and stakeholders to provide a 360 perspective on issues. She offers a popular service that keeps clients informed with timely, relevant, informative and occasionally entertaining tax updates, including political insights and analysis regarding the significance of developments and how they affect tax policy.
Mary serves on the Board of Directors of the Real Tax Policy Group and is a member of Behind the Tree, both featuring biweekly information sessions with top Administration and Congressional tax officials. She also serves on the Board of Directors of Time of Grace, an international media ministry.
Prior to joining the firm in 2011, Mary served for six years with the Senate Committee on Finance, giving her a strong foundation in the tax committee's processes and procedures. In that position, she managed several major tax bills for Chairman Max Baucus, including international tax reforms, FATCA, basis information reporting, and third party information reporting. She oversaw legislation pertaining to various revenue offsets, tax administration, the IRS's role in the Affordable Care Act and economic stimulus provisions. She managed and maintained the Committee's list of revenue offsets.
Mary also managed committee hearings; oversaw IRS policies, programs, and initiatives; and worked on tax reform measures. She authored many floor statements, opening statements, and press releases on behalf of Chairman Baucus concerning corporate, small business, and individual tax policy and tax administration matters. She also was responsible for vetting the financial information, including tax documents, for all Administration nominees falling under the jurisdiction of the Senate Finance Committee. During her time with the committee, Mary was featured in Tax Analysts as a congressional staffer influencing tax policy.
Mary also served at the IRS for more than 25 years in a variety of technical and management positions, including Manager of the Office of Tax Shelter Analysis, overseeing the IRS’s tax shelter and promoter compliance functions; Technical Advisor Manager, overseeing telecommunications, entertainment, media, gaming, sports, and high technology technical advisors; Motor Vehicle Industry Specialist, including oversight of the LIFO Issue Specialist; Large Case Team Coordinator, overseeing a team of domestic, international, engineer, employment tax and other specialists on audits of multinational companies; and Revenue Agent, examining a variety of corporate and pass-through tax returns in various industries. During her time with the IRS, she materially contributed to numerous IRS guidance documents, including the Internal Revenue Manual, Coordinated Issue Papers, and Industry Director’s Directives. She represented the IRS during various presentations to the international tax groups in the United States and abroad. While at the IRS, she received many performance awards, including District Employee of the Year.
- Member, Board of Directors, Real Tax Policy
- Member, Board of Directors, Time of Grace
- Member, Tax Coalition
- Member, Behind the Tree
Mary is a frequent contributor to the tax press and has spoken extensively before business and tax groups.
- Speaker, "UK-US Roundtable on the US Hydrogen Market & Emerging Financial Frameworks," 10 June 2024
- Panelist, Renewable Thermal Collaborative Summit 2023, “US Federal Policy: State of Play and RTC Priorities,” October 19, 2023
- Panelist, IBM Center for The Business of Government/Kogod School of Business at American University: Roundtable on “AI and the Modern Tax Agency,” October 17, 2023
- Speaker, Renewable Hydrogen Alliance, “Federal Update,” August 30, 2023
- Moderator, Tax Coalition, “Current Issues with IRA Clean Energy Incentives Implementation,” July 12, 2023
- Speaker, Alternative Fuels and Chemicals Coalition “IRA Incentives for SAF,” June 26, 2023
- Speaker, National League of Cities, “Monetizing the Inflation Reduction Act Tax Credits,” December 8, 2023
- Speaker, Marcellus Shale Coalition, “Expanding Opportunities for LNG, Hydrogen, Carbon Capture and Energy Infrastructure, January 26, 2023
- Panelist, "Regulatory Policy: The Hill and ETFs," K&L Gates ETF Think Tank, December 9, 2021
- Speaker, “Mary Baker, Government Affairs Counselor at K&L Gates, Talks Opportunity Zones with Summit’s Auyon Rahman,” Summit Podcast, July 8, 2021
- Speaker, “National League of Cities Annual Conference,” Washington, DC, March 9, 2020
- Participant, “Maryland Opportunity Zone Innovation Roundtable,” College Park, MD, February 14, 2020
- Speaker, “San Diego Economic Development Conference,” San Diego, CA, February 4, 2020
- Panelist, “US Soccer League Winter Summit,” Orlando, FL, December 11, 2019
- Panelist, “Unlocking New Private-Sector Development Opportunities in Public Buildings,” Washington, DC, November 8, 2019
- Panelist, “City of Houston Opportunity Zones Conference,” Houston, TX, October 20, 2019
- Speaker, “American General Contractors Association Annual Conference,” Las Vegas, NV, October 18, 2019
- Panelist, “International Economic Development Council Annual Conference,” Indianapolis, IN, October 14, 2019
- Speaker, “State of Maryland Department of Housing & Community Development Opportunity Zone Conference,” Ellicott City, MD, October 1, 2019
- Speaker, “Emergency Housing & Safe Workforce Summit,” Columbia, SC, August 14, 2019
- Panelist, “SIFMA: Opportunity Zone Investment,” Webinar, August 7, 2019
- Speaker, “Opportunity Zones and Disaster Relief-International Economic Development Council,” Webinar, July 23, 2019
- Panelist, “Urban Land Institute,” Nashville, TN, April 18, 2019
- Speaker, “Chartered Alternative Investment Analyst Association,” Boston, MA, April 4, 2019
- Panelist, “Discussion on Opportunity Zones,” Boston, MA, April 4, 2019
- Speaker, “Association of Washington Businesses,” Seattle, WA, February 27, 2019
- Speaker, “Seattle Investment Management Conference,” Seattle, WA, February 27, 2019
- Speaker, “Tax Executives Institute,” New York, NY, February 15, 2019
- Witness, “Senate Small Business Committee hearing: Economic Development and Opportunity Zones,” Miami, FL February 1, 2019
- Panelist, “Liberty City Rising: Achieving Upward Mobility through Small Business and Community Partnerships”, Miami, FL, February 1, 2019
- Speaker, “Dallas Bisnow Opportunity Zone Conference,” Bold, TX, November 28, 2018
- Speaker, "Prince George's County Opportunity Zones Conference," Largo, MD, November 7, 2018
- Speaker, “Now that the proposed regulations have been released for the Opportunity Zones Program, What Is Your Next Step?” Qualified Opportunity Funds and Opportunity Zones Released Regulations, Washington, D.C., October 31, 2018
- Panelist, “NAIOP Annual Conference,” Washington, DC, October 15, 2018
- Participant, “Aspen Institute/Rockefeller Foundation Opportunity Zone Roundtable,” New York, NY, October 8, 2018
- Speaker, “City of Spokane,” Spokane, WA, October 3, 2018
- Panelist, “Urban Land Institute South Carolina Capital Markets Conference,” Kiawah Island, SC, September 5, 2018
- Speaker, “Seattle Chartered Financial Analyst/Chartered Alternative Investment Analyst Opportunity Zone Roundtable,” Seattle WA, August 2018
- Federal Government Releases Direct Pay Guidance on Clean Energy Tax Credits,” Pratt’s Energy Law Report, September 2024
- "New way of financing clean energy projects," Project Finance International (PFI), April 2024
- “Should investors be worried about the wave of new OZ bills in Congress?” Opportunity Zone Magazine, December 2019
- “Opportunity Zones Aren't Just for Real Estate Development,” Commercial Real Estate Development Association, Spring 2019
- “Opportunity Zones: A Powerful New Tool for Development in South Carolina,” Association of Corporate Counsel - South Carolina Chapter, 19 June 2018
- “Initial coin offerings: key US legal considerations for ICO investors and sponsors,” Journal of Investment Compliance (JOIC), Vol. 19, Issue: 1, June 2018
- Quoted, “’Happy days’: Trump presidency poised to benefit Australian law firms,” Australian Financial Review, 21 November 2024
- Quoted, “America Inc. is hoping for a tax bonanza. It may be disappointed,” The Economist, 14 November 2024
- Quoted, “New Clean Electricity Credits At Risk In 2025 Tax Talks,” Law360 Tax Authority, 14 November 2024
- Quoted, “Republicans look to fast-track tax, spending cuts but face hurdles,” Agri-Pulse, 13 November 2024
- Quoted, “Trump may end Biden’s ‘green’ hydrogen dream,” E&E News, 13 November 2024
- Quoted, “Trump Prepares For Major Legislative Push During Second Term,” The Pinnacle Gazette, 12 November 2024
- Quoted, “5 ways Trump could reshape the economy,” The Hill, 12 November 2024
- Quoted, “Trump win may mean doubling SALT cap,” The Bond Buyer, 11 November 2024
- Quoted, “Trump has a ‘super clear’ mandate on taxes – but here’s why it’s not a done deal,” Market Watch, 6 November 2024
- Quoted, “Financial advisors favor Trump, doubt his 2024 election prospects,” Financial Planning, 29 October 2024
- Quoted, “Trade wars, market jolts: What a Trump win means for Australia,” Australian Financial Review, 22 October 2024
- Quoted, “Tax Experts See Long Standoff Over Expiring Provisions,” CPA Practice Advisor, 17 October 2024
- Quoted, “Tax veterans see protracted standoff over expiring breaks,” Roll Call, 15 October 2024
- Quoted, “How the Election Results Will Raise or Lower Your Taxes,” The Wall Street Journal, 13 October 2024
- Quoted, “Cutting Taxes Is Easy; Paying For It Is Not,” Tax Notes, 9 October 2024
- Quoted, “How the election—and Senate procedure—will decide tax policies,” Financial Planning, Accounting Today, and Sultrasatu News (Indonesia), 7 October 2024
- Quoted, “Estate planning has become more urgent for rich people as the election nears. That’s why tax laws need fixing, critics say,” MarketWatch, 3 October 2024
- Quoted, “The Coming Tax Cliff Debate and Math Games,” Bloomberg Law, 30 September 2024
- Quoted, “Morning Tax,” Politico Pro, 30 September 2024
- Quoted, “The Tax Angle: Corporate Inversions, SALT Cap,” Law360 Tax Authority, 23 September 2024
- Quoted, “Energy Credits a Sticking Point in GOP’s Hopes for Tax Package,” Bloomberg Law, 14 July 2024
- Quoted, “Chevron ruling’s hydrogen ripple effects,” Axios Pro, 9 July 2024
- Quoted, “IRS Rulemaking Authority on Shaky Ground With Chevron Overturned,” Bloomberg Law, 1 July 2024
- Quoted, “House GOP Sets up Tax Teams to Study Expiring Provisions of 2017 Tax Law,” The Newspaper of the New York State Society of Certified Public Accountants (NYSSCPA), 4 June 2024
- Quoted, “House GOP 'tax teams' in the spotlight as major expirations near,” Roll Call, 3 June 2024
- Quoted, “Tax Credit Transfer Regs Show IRS Caution In Rulemaking,” Law360, 1 May 2024
- Quoted, “Direct Pay Regs Would Lift Major Barrier For Energy Projects,” Law360, 8 March 2024
- Quoted, “Democrats Seek to Cement Energy Tax Rules Before 2024 Elections,” Bloomberg Government, 6 March 2024
- Quoted, “Treasury tees up tech-neutral tax credits for energy projects,” E&E News, 30 January 2024
- Quoted, “International Tax Policy To Watch In 2024,” Law360, 1 January 2024
- Quoted, “Tough rules for US green hydrogen incentives open door for Australia,” AFR.com, 3 January 2024
- Quoted, “IRS Appoints OPM Official To Helm Agency Improvements,” Law360, 28 July 2023
- Quoted, “Four Hurdles for IRS to Implementing its $80 Billion Plan,” BloombergLaw, 10 April 2023
- Quoted, “Tax ‘Blue Book’ to Revive Lawmakers’ Technical Fixes Standoff,” Bloomberg Government, 29 December 2022
- Quoted, Bloomberg Government, HILL TAX BRIEFING: IRS Preps for $80 Billion, Werfel Awaits Hearing, January 18, 2023
- Quoted, “International Tax Policy To Watch In 2023,” Law360, 2 January 2023
- Quoted, Bloomberg Government, Tax ‘Blue Book’ to Revive Lawmakers’ Technical Fixes Standoff, December 29, 2022
- Everyone Running for Re-Election has Failed on Coronavirus Stimulus, Axios, 2 November 2020
- Quoted, Mnuchin's $100 Billion Market Gets Boost With Rules on Tax Break, Bloomberg Law, 19 October 2018
