Gregory A. Ichel, CPA

Gregory A. Ichel is a Principal in the Hudson, Wisconsin office of The Arbitrage Group, Inc. As both a CPA and attorney, he brings both perspectives to his work in the group’s arbitrage rebate compliance practice. Gregg’s responsibilities for the Rebate Practice of The Group include:

  • Coordinating engagements with a variety of national clients including municipalities, hospitals, universities, issuers/borrowers, and other professionals. In this capacity, Gregg is responsible for gathering the necessary data required to perform the arbitrage rebate calculation;
  • Analyzing bond documents and bond proceeds investment activity to identify key characteristics of the bond issue and determine related IRS arbitrage rebate requirements;
  • Preparing or reviewing computation of arbitrage rebate and yield restriction computation including ensuring compliance with the IRS regulations;
  • Researching technical issues for our clients; and
  • Delivering arbitrage rebate consulting services.

Prior to joining The Arbitrage Group, Gregg was a partner at a top 10 accounting firm, which he joined in 2002. There he gained invaluable experience in rebate, yield monitoring, yield restriction and related compliance areas. He also provided critical high-level reviews for the prior firms commercial mortgage loan defeasance practice.  Before that, Gregg worked as a tax manager for three years with Andersen’s municipal bond services group. He also held the position of tax associate attorney for a New Jersey law firm and, prior to that, spent three years at Deloitte within their audit department.

Professional qualifications and memberships

  • Certified Public Accountant, Wisconsin
  • Esq., NJ (non-practicing)
  • American Institute of Certified Public Accountants
  • National Association of Bond Lawyers
  • Wisconsin Institute of Certified Public Accountants

Presentations and publications

Gregg has both written and presented on a range of public finance topics. A contributor to the Seton Hall Law Review during law school, he published Tax-Exempt Financing Traps for the Unwary Executive, Tax Exempt Bonds IRS Examinations are Coming. Will Your Organization Be Ready? and Tax Exempt Bonds IRS Proposes Changes to Rules, in The Non-Profit Times, the leading business publication for nonprofit management. He continues to serve as an expert panelist for National Association of Bond Lawyers bond attorney workshops and previously for local government finance officer association groups, including the joint WI/IL GFOA and IGFOA annual conferences.


Bachelor of Science ― Accounting, cum laude, Rutgers University School of Business
Juris Doctorate, cum laude, Seton Hall University School of Law