Damian M. Hovancik
Partner
Suite 2100
Biography
Damian is a partner in the Corporate & Finance practice and a member of the Affordable Housing and Economic Development & Public Finance industry teams. Clients seek his advice on matters involving federal, state, partnership, international, and exempt organization tax law. He provides structuring and planning advice to real estate investment trusts (REITs), represents developers and investors in affordable housing projects, and provides tax advice related to real estate joint ventures.
Damian is also active in IRS and state tax compliance matters, the audit and appeals process, and resulting litigation. He advises international clients on the proper reporting for offshore companies, assets, and financial accounts and guides clients through domestic and offshore voluntary disclosure and compliance initiatives.
As a highlight of his practice, Damian is involved in affordable housing projects across the Southeast, working with developers, investors, and project owners in structuring transactions qualifying for low-income housing credits (LIHTCs), historic rehabilitation tax credits (HRTCs), and other state tax credits. He is often invited to speak at affordable housing events on various tax issues that impact the industry.
Damian also has a great deal of experience assisting companies in securing incentives and grants from various state agencies as part of his economic development practice. Notably, he counsels a top-tier Fortune 500 company on economic development transactions and compliance matters throughout the U.S.
Experience
Represented a large regional health system in the corporate restructure of its operations from a Georgia Hospital Authority operated hospital to a restructured, tax exempt not for profit hospital.
Representing Griffin-American Healthcare REIT II and III, a non-traded REIT, in connection with the tax matters raised in its acquisition and sale of regulated healthcare facilities in multiple states.
Structured a multi-hundred million dollar real estate development project, provided federal and state tax advice to the project developers and provided the advice necessary to assist the developer in the receipt of significant state tax credits which were critical to the economics of the projects.
Representing First Tennessee Housing Corp. on numerous transactions involving LIHTCs and HRTCs across the Southeast, with multiple projects in Tennessee and North Carolina.
Represented multiple clients before the IRS who have failed to report off-shore (non-US) bank accounts and/or assets, utilizing the offshore voluntary disclosure (OVDP) program provided by the IRS, including cases involving the new Streamlined Filing Compliance Procedures and the zero offshore penalty relief.
Credentials
- New York University School of Law, LLM in Taxation
- Albany Law School of Union University, Juris Doctor
- Siena College, Bachelor of Business Administration - Accounting
- State of Georgia
- State of New York
- District of Columbia
- United States Tax Court
- United States District Court for the Northern District of New York
- Member, American Bar Association
- Member, New York State Bar Association’s Tax Section
- Former Member, Tax Section’s Executive Committee and Chair of the Section’s CLE Committee, New York State Bar Association
Recognition
- Best Lawyers in America®, Tax Law, 2023-25
- AV Preeminent®, Martindale-Hubbell Peer Review Ratings
News & Insights
- NewsAGG Increases Number of Attorneys Recognized in 2025 Edition of The Best Lawyers in America® With Four Named “Lawyer of the Year”August 15, 2024 | Rankings & Recognition | News Releases | Arnall Golden Gregory LLP
- EventsAGG Affordable Housing Team Spoke at GAHC 27th Annual Conference and Trade ShowMarch 7, 2024 | Speaking Engagements | Savannah, Georgia
- NewsAGG Increases Number of Attorneys Recognized in 2024 Edition of The Best Lawyers in America® With Three Named “Lawyer of the Year”August 17, 2023 | Rankings & Recognition | News Releases | Arnall Golden Gregory LLP