Elizabeth Julia Smith
Counsel
Elizabeth Julia Smith is counsel in the tax controversy group. Elizabeth has a range of experience in tax controversies, complex financial and commercial litigation, and class action defenses. She has represented clients in disputes with the IRS, as well as state and local taxing authorities.
In addition to her tax controversy work, Elizabeth maintains antitrust and litigation practices. Her antitrust work focuses on advising health care providers regarding clinically integrated networks in a variety of contexts, including formation, implementation, and compliance. Elizabeth’s litigation experience has spanned all phases of both tax and general commercial litigation matters, including case strategy, fact and expert discovery, trials, settlement, and appeals. Elizabeth has experience in several industries including health care, energy, telecommunications, private investments, transportation, and technology.
Experience
Representative Tax Controversy Experience
- Successfully representing a multinational energy company before the Massachusetts Supreme Judicial Court, resulting in a unanimous decision in client’s favor upholding a multimillion dollar property tax exemption.
- Achieving a complete victory in two multimillion dollar disputes over local taxes for a multinational energy company in two separate bench trials before the Massachusetts Appellate Tax Board.
- Obtaining a full IRS concession on statute of limitations defense on behalf of a hedge fund client in U.S. Tax Court proceedings defending the statutory limited partner exception to self-employment (SECA) tax in the Internal Revenue Code.
- Advising a large data company in ongoing sales and income tax disputes with the Massachusetts Department of Revenue.
- Reaching a highly favorable settlement on behalf of a multinational utility company in connection with an income tax dispute with the Massachusetts Department of Revenue.
- Representing purchaser of a company in litigation regarding its right to retain tax refunds and credits arising out of NOL carrybacks made possible by the CARES Act.
- Advising several private equity firm portfolio companies in connection with IRS and state audits of management fees paid to sponsors.
- Obtained favorable settlement on behalf of individuals in dispute with the Massachusetts Department of Revenue regarding responsible person liability.
- Counseling an individual in connection with a state court indemnification dispute arising out of a potential tax liability and related IRS audit.
- Advising multiple clients regarding state sales tax, income tax, and procurement tax obligations in connection with actual and anticipated disputes with state regulators.
- Advising private equity firm and portfolio company in ongoing internal investigation related to potential tax liabilities.
Representative Antitrust Counseling Experience
- Advised non-profit and for-profit health care systems and independent physicians associations regarding the criteria for attaining clinical integration from an antitrust regulatory perspective.
- Evaluated the clinical integration of hospital and physician networks for antitrust compliance purposes.
- Counseled health care providers with respect to antitrust compliance in connection with affiliations, collaborations, and joint ventures.
Representative Commercial Litigation Experience
- Successfully represented a pharmaceutical company before California Supreme Court in a landmark decision that established the contours of California tortious interference, antitrust, and non-compete law (Ixchel Pharma, LLC v. Biogen, Inc., 9 Cal. 5th 1130 (2020))
- Represented foreign insurers, a Fortune 500 transportation company, and a leading cable company in multi-million dollar class action disputes in federal court.
- Negotiated class action settlements on behalf of multiple clients.
- Advised several health care and pharmaceutical clients in multiple matters, including disputes with local taxing authorities, subpoena responses, and analyses of regulatory implications of contemplated and existing contracts.
- Performed litigation risk assessments and litigation due diligence for private investment, technology, and information management clients.
- Counseled a hedge fund in connection with bankruptcy litigation involving significant expedited discovery.
Publications
- Co-author, “Tax Deductions For FCPA Settlement Amounts,” FCPA Professor (March 30, 2021)
- Co-author, “Busy New Year: Predicted IRS Enforcement Trends in 2021,” Bloomberg Tax (December 31, 2020)
- Contributor, Comments submitted to OECD Centre for Tax Policy and Administration in response to BEPS Public Consultation Document: Tax Challenges Arising from Digitalisation — Report on the Pillar One Blueprint by the IBA Taxes Committee Working Group (December 14, 2020)
- Co-author, “Taxing the Digitalising Economy,” International Comparative Legal Guide’s 17th edition of “Corporate Tax 2021” (December 10, 2020)
- Co-author, “Key Tax Considerations For Cos. With Remote Employees,” Law360 (August 3, 2020)
- Co-author, “Federal, State Tax Authority Enforcement-Related Responses to Covid-19,” Bloomberg Tax (May 14, 2020)
- Co-author, “INSIGHT: Are Privilege Protections Shifting in the Tax Context?,” Bloomberg Law (April 13, 2020)
- Co-author, “Diagnosing Sales Tax Rules for Digital Health Products,” Law360 (March 2, 2020)
- Co-author, “Top 5 Modern Tax Challenges for Digital Health Companies,” Law360 (September 16, 2019)
- Co-author, “Threat Of Sales Tax Overcollection Suits Grows Post-Wayfair,” Law360 (June 20, 2019)
- Co-author, “States Follow The IRS In Joining The Big Data Revolution,” Law360 (February 22, 2019)
- Co-author, “A Brief Exploration Of Privilege Nuances In The Tax Context,” Law360 (February 13, 2019)
- Co-author, “The Overturned Visa/MasterCard Settlement: What Does It Mean (If Anything) for the Future,” Bloomberg BNA Class Action Litigation Report (August 25, 2016)
Presentations
- Speaker, “The Litigation Strategy and Implications of the Decision,” IFA USA New England Spring Symposium: Lessons from the Coca-Cola Co. U.S. Tax Court Decision (May 20, 2021)
- Speaker, “President Biden’s Tax Plan: Beyond the First 100 Days,” Boston Bar Association Webinar (May 19, 2021)
- Speaker, “Privilege in Tax: Practical Implications of Attorney-Client, Work Product, and Tax Practitioner Privileges,” Boston Bar Association Webinar (January 20, 2021)
- Moderator, “Use of Dispute Resolution to Resolve Large, Complicated Corporate Tax Disputes,” Leading Women in Tax Forum (March 3, 2020)
- Moderator, “Administrative Practice Committee Important Developments,” 2019 ABA May Tax Meeting (May 2019)
Education
- JD, Yale Law School, 2009; Senior Editor, Yale Law & Policy Review
- BA, summa cum laude, Bates College, 2003; Phi Beta Kappa
Admissions / Qualifications
Qualifications
- Massachusetts, 2009
- New York, 2020
Court Admissions
- U.S. District Court for the District of Massachusetts, 2019
- U.S. Tax Court, 2019