Eric P. Wallace

Eric P. Wallace, CPA, is President of Eric P. Wallace LLC in Pittsburgh, PA. His firm focuses on providing professional CPA services and web-based tools to CPA firms and construction, real estate, and manufacturing companies. With his extensive expertise in A&A in auditing to the AICPA framework and in Tax for the tangible property regulations (263(a)), depreciation (section 168), NOL, 263A issues, change in methods of accounting, to domestic production deductions, he provides nationally recognized tax, accounting, auditing and consulting services. Over the last 30 years, Eric ran his own firm, and was a Partner and head of the CRE Team for a regional firm located in Pennsylvania. He also provides specialized professional educational services, consulting, writing, and training to CPA firms, CPA organizations, Wolters Kluwer, and related entities. Eric has been an expert witness in construction-related court issues, accounting malpractice, and other court cases in venues such as bankruptcy, district, and local courts in various states concerning liability, tax and accounting issues and in IRS audit issues.

He has been an expert witness in construction-related court cases in venues such as arbitration, bankruptcy, district, and local courts in various states concerning litigation support, tax and accounting issues, and he has represented numerous contractors before the IRS and DOL. In addition to being the author of over one hundred articles; CCH's books on tax and accounting and auditing in the construction industry, CCH's KBA audit programs on construction, and the instructor of numerous CCH webinars, he teaches highly rated CPE seminars to CPA firms, state societies, and construction organizations. Eric is a CPA licensed in Pennsylvania, and prior to the CPA Mobility Act, previously licensed in five other states.

Eric has passionately represented the construction industry in national tax and accounting issues for many years. He has been acknowledged by the IRS for his IIR submission on the definition of “home construction contract,” received the SBA Tax Advocate Award in 2002, and his writings were quoted by the FASB head in his testimony before Congress. Additionally, he has testified before Congress twice on contractor issues.

Eric obtained his BS in Public Accounting from Mesa State College of Colorado (now Colorado Mesa State University), is a member of the AICPA, was a member of its Council for eight years through 2011 and is a member of its Task Force on Private Company Financial Reporting, which cumulated in the issuance of the AICPA FRF for SMEs in June of 2013; is a member of the PICPA, where he served for many years as its Chairman of the A & A Committee, and is a past President of the PICPA, 2008-2009 term; past member of the National Tax Committees for CFMA's Tax and Legislative Affairs Committee, served as its chairman (2004-2006); and currently serves on the AGC National Tax and Fiscal Affairs Committee.


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