WASHINGTON -- John J. Cross 3d, a principal author of the comprehensive final arbitrage regulations for tax-exempt bonds released in June by the Internal Revenue Service, is leaving the IRS at the end of the year to become a partner in the Washington office of Hawkins, Delafield & Wood, the firm said.
Cross, the counsel to the assistant chief counsel for financial institutions and products since September 1990, will join Hawkins Delafield's tax department. There, he will specialize in tax-exempt finance and financial products, with special emphasis on municipal derivative products.
Cross helped write the 1993 comprehensive arbitrage regulations that simplified and coordinated the arbitrage, rebate, and related restrictions on tax-exempt bonds. He also was a principal author of the 1991 simplified arbitrage rebate regulation amendments, the 1992 proposed transferred proceeds and refunding regulations, the 1992 proposed general arbitrage accounting regulations, the 1992 final reimbursement bond regulations, and the May 1992 final arbitrage regulations.
Before joining the IRS, Cross was a partner in the Atlanta-based firm of Smith, Gambrell and Russell from 1983 to 1990. He was also with the Atlanta office of Kutak Rock from 1981 to 1983. He is a graduate of Brown University, received his law degree from Vanderbilt University and earned an advanced degree in taxation from Georgetown University.