Business Law


Two Hull McGuire Lawyers Appointed To IRS Tax Shelter Panel

Washington, D.C., 2/20/2003  -  Two attorneys with Hull McGuire PC, a law firm based in Pittsburgh with offices in San Diego and Washington, D.C., have been selected by the Internal Revenue Service (IRS) to serve as arbitrators on a special IRS tax arbitration panel.

Julie McGuire, a tax lawyer in Hull McGuire's Pittsburgh office, and Albert Sturtevant, a corporate and securities lawyer in its Washington, D.C. office, were appointed to serve as neutral arbitrators in contingent liability tax shelter cases under Section 351 of the federal tax code.

On January 27, 2003, the IRS announced its selection of thirty individuals to serve as qualified neutral arbitrators available to taxpayers for arbitration of the tax shelter cases.  The panel was selected from recommendations of the American Arbitration Association (AAA), which maintains a roster of over 9,000 trained and qualified neutral arbitrators.  According to the IRS, the appointments were made on the basis of experience and expertise in the federal income tax code.

Section 351 transactions are shelters in which taxpayers use a subsidiary to generate both loss-creating stock transfers and certain payments, thereby creating a double tax deduction.  The IRS has targeted this type of tax shelter, frequently offered by promoters who acquire fees for selling interests in the shelter, as a potentially abusive tax shelter.  Taxpayers have until March 5, 2003 to apply to the IRS for arbitration of a tax shelter dispute under Section 351.

Julie McGuire is a shareholder and co-founder of Hull McGuire who graduated first in her class from both Carnegie Mellon University and Duquesne Law School.  Prior to forming Hull McGuire, she was Tax Counsel at Alcoa, Inc.

Albert Sturtevant is a native of Washington, D.C. and a graduate of Yale Law School.  Before entering private practice in 1973, he served in the Securities and Exchange Commission's Division of Market Regulation.  He is of counsel to Hull McGuire.


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