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Jodi J Schwartz
Office:
51 West 52nd Street
10019
City:
New York
State:
New York
Country:
USA
Tel:
+1 212 403 1212
Fax:
+1 212 403 2212

Questions and Answers:

Who's Who Legal Thought Leaders: Corporate Tax

Jodi J Schwartz focuses on the tax aspects of corporate transactions, including mergers and acquisitions, joint ventures, spin-offs and financial instruments. She was elected partner of Wachtell, Lipton, Rosen & Katz in 1990. Ms Schwartz received her BS in economics magna cum laude from the University of Pennsylvania in 1981, her MBA from the University of Pennsylvania (Wharton School) in 1984, her JD magna cum laude from the University of Pennsylvania Law School in 1984, and her LLM in taxation from the New York University Law School in 1987.

WHAT INSPIRED YOU TO ENTER THE LEGAL PROFESSION? 

I have always been interested in problem solving and in legal reasoning. I went to law school on the theory that a legal education could never be a negative, but found that I loved the practice even more than theory.

WHY HAVE YOU CHOSEN TO FOCUS YOUR PRACTICE ON CORPORATE TAX? 

I have a deep interest in both business transactions and in the law, and corporate tax law is an opportunity to balance real world business objectives with the statute, regulations and case law that underpin the tax law. Structuring complex transactions is the ultimate puzzle solving, combined with the human element of negotiations and business constraints. I love the pace and the subject matter. And I love that after 30-plus years of practice I am frequently presented with new questions.

HOW HAS THE LANDSCAPE OF THE CORPORATE TAX SECTOR CHANGED THROUGHOUT YOUR CAREER? 

There has been a massive increase in complexity and in regulations. Enormous resources are devoted to reporting and compliance. There is also much more attention paid to the ethical construct of tax planning versus tax evasion. Boards of directors and audit committees are much more interested in what the tax director is up to.

WHAT ARE THE MAIN CHALLENGES CURRENTLY FACING CORPORATE TAX PRACTITIONERS IN THE US? 

I would say the increasing complexity of the tax law, the drive toward hyper-specialisation on the part of tax professionals (in part as a way to manage the complexity) and uncertainty in the legislative environment are the principal challenges facing
my practice.

HOW REALISTIC IS THE EXPECTATION OF REFORM IN THE REGULATORY ENVIRONMENT OVER THE NEXT YEAR? 

I think that the prospects for tax reform generally are political and therefore hard to predict, particularly as we approach the 2018 midterm elections. This is the question that I am asked most frequently in my day to day practice, and it is the hardest to answer.

HOW WOULD YOU EXPECT REFORM TO THE INTERNATIONAL TAX SYSTEM TO AFFECT THE US TAX MARKET? 

The increase in scrutiny by participants in the international tax system and the resultant anti-tax haven movement necessarily complicate US tax planning and may result in an uptick of overall tax rates for corporations. In my experience, however, business motivated transactions will continue to adjust to new environments.

Biography:

Who's Who Legal Corporate Tax: Advisory

Jodi J Schwartz focuses on the tax aspects of corporate transactions, including mergers and acquisitions, joint ventures, spin-offs and financial instruments. Ms Schwartz has been the principal tax lawyer on numerous domestic and cross-border transactions in a wide range of industries. She was elected partner in 1990.

Ms Schwartz received her BS in economics magna cum laude from the University of Pennsylvania in 1981, her MBA from the University of Pennsylvania (Wharton School) in 1984, her JD magna cum laude from the University of Pennsylvania Law School in 1984 and her LLM in taxation from the New York University Law School in 1987.

Ms Schwartz is recognised as one of the world's leading lawyers in the field of taxation, including being selected by Chambers Global Guide to the World’s Leading LawyersChambers USA Guide to America’s Leading Lawyers for BusinessWho’s Who Legal and as a tax expert by Euromoney Institutional Investor Expert Guides. In addition, she is a member of the executive committee and past chair of the tax section of the New York State Bar Association and also is a member of the American College of Tax Counsel.

Ms Schwartz serves on the board of the American Jewish Joint Distribution Committee, the Jewish Board of Family and Children's Services, the Jewish Community Project of Lower Manhattan and serves on the board of overseers of the University of Pennsylvania Law School. Ms Schwartz lives in Manhattan with her husband, son and daughter.

WWL says: Jodi Schwartz is a prominent figure in the US tax space thanks to her longstanding excellence handling transactional tax issues.

This biography is an extract from Who's Who Legal: Corporate Tax which can be purchased from our Shop.

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