JAMES B. SOWELL – Jim Sowell is a Principal at KPMG LLP and leads the Real Estate Practice in KPMG's National Tax Office. Jim's practice is focused primarily on tax issues relating to partnerships and REITs. He has worked extensively in fund formation and acquisition structuring for large private equity clients. Jim previously was an Associate Tax Legislative Counsel in the Office of Tax Policy at the U.S. Treasury Department where he was responsible for legislation and guidance relating to partnerships, REITs, and like-kind exchanges. Jim currently is Vice Chairman of the Real Estate Committee of the American Bar Association (Tax Section), is a former Vice Chairman of the Real Estate Roundtable's Tax Policy Advisory Committee, and is on the Board of Trustees for the Southern Federal Tax Institute. Jim has written numerous articles and speaks extensively on partnerships and REITs.