Since joining Mayer Brown in 1989, Scott Stewart’s practice has focused exclusively on tax disputes and transfer pricing matters. He represents taxpayers at all levels of federal tax controversy, including audits, administrative appeals before the Internal Revenue Service, mediation involving the Appeals division of the IRS, and litigation before the United States Tax Court. Recognized by Chambers USA each year from 2006 through 2014, Scott is described as a talented litigator and corporate advisor who wins the confidence of clients with his extraordinary communication skills and broad and deep experience. He is recommended for his spot-on judgment and analysis, his responsiveness and strategic thinking and his ability to anticipate issues before they arise. Chambers notes that he is particularly adept at handling transfer pricing cases at all levels. Similarly, Euromoney recognizes Scott in its Guide to the World's Leading Tax Advisers and Legal 500 recognizes his wide range of experience and cites his very strong reputation in tax controversy.
Scott has extensive experience with deductibility of interest expense in related-party transactions, including debt-versus-equity characterization and sham transaction and economic substance issues, dating back to his involvement in the landmark Nestle Holdings case during the 1990s. Recently, Scott led the Mayer Brown team that filed 15 Tax Court petitions concerning debt-equity issues on behalf of Tyco International and related companies. The cases involve $3 billion in interest expense incurred from 1998 through 2000 and potentially implicate nearly $10 billion in interest expense incurred over a period of 10 years, according to the companies' public statements.
Scott is also experienced in all aspects of international transfer pricing, including cross-border movements of tangible and intangible property, advance pricing agreements, cost sharing arrangements, Section 6662 documentation, transfer pricing litigation, and issues related to Section 936 Puerto Rico possessions corporations. His transfer pricing litigation experience includes a number of the major cases of the last two decades, such as National Semiconductor, Seagate Technology, Nestle Holdings and United Parcel Service.
Scott's experience also includes acquisition-related issues, such as valuation of tangible and intangible assets. He advises clients on tax treaty matters, competent authority issues, attorney-client and related privilege issues, civil and criminal tax penalties, and accounting for tax matters under FIN 48 of the Financial Accounting Standards Board. His industry experience includes manufacturing, pharmaceutical, medical device and food processing companies. Scott holds a JD from Harvard Law School and an MBA from the Johnson Graduate School of Management at Cornell University.
Mayer Brown was recently named Tax Controversy Team of the Year in the Legal 500 United States Awards 2014. Mayer Brown is 'among the best' and fields a large team...dedicated exclusively to tax controversy and transfer pricing, said Legal 500 and its sources in the 2014 US edition. The firm's extensive experience spans the full gamut of controversy work, from administrative appeals to litigation in the trial court and at appellate court level.