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Ellen McElroy

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Ellen McElroy is a partner with Pepper Hamilton LLP, resident in the Washington D.C. office. She focuses on a broad variety of corporate tax issues, primarily accounting method considerations. She regularly advises clients on the proper tax treatment of costs associated with tangible property, (including the treatment of repair costs), intangible property (including acquisition costs and recovery), and corporate transaction costs. With respect to corporate transaction costs, she advises clients regarding various corporate transactions, including both acquisitive and divisive transactions, both strategic and private equity transactions. She further advises clients on income recognition matters as well as inventory issues.

Ms. McElroy regularly represents clients before IRS, including representation at the IRS National Office with private letter rulings and technical advice. She also has represented a number of clients in controversy matters, including IRS Exam, Appeals, including matters involving Pre-Filing Agreements, Fast Track Appeals, and the Compliance Audit Program.

Before joining Pepper, Ms. McElroy was a partner with Ernst & Young LLP, where she led the firm’s transaction cost review practice and worked on accounting methods and inventory matters for Fortune 500 companies as part of her role in the firm’s National Tax Department.

Prior to Ernst & Young LLP, Ms. McElroy was legislation counsel for the IRS Office of Special Counsel (Legislation), where she developed and drafted legislative proposals, supervised congressional investigations, and GAO audits involving IRS. She also was a senior attorney with the Income Tax and Accounting Division. In this position, Ms. McElroy was principal author of final regulations under the uniform capitalization rules and temporary regulations involving the deductibility of lobbying expenses. She also wrote revenue rulings, technical advice memoranda, and private letter rulings involving income tax accounting issues including, deductibility of severance payments, environmental cleanup, advance payments and the tax treatment of takeover costs.

Ms. McElroy is past chair of the ABA Tax Accounting Committee and she has served as chair of the Tax Accounting Committee’s Capitalization Sub Committee. She served as the tax accounting chair for the 2013 and also the 2014 Federal Bar Association’s Section on Taxation Tax Law Conference. She also participates in AICPA’s Tax Methods and Periods Technical Resource Panel. She has served as an adjunct professor at Georgetown University Law Center. She speaks regularly before corporate groups, including Tax Executive Institute, Philadelphia Tax Conference, Federal Bar and ABA meetings.

Ms. McElroy is a regular contributor to national and regional tax and accounting journals. Her recent publications include:

  • “Final Regulations Released Revising the Tax Treatment of Sales-Based Royalties and Vendor Allowances,” Pepper Hamilton LLP Tax Update (March 31, 2014)
  • “New IRS Guidance Offers Insight Regarding Covered Transactions Under the Transaction Cost Regulations,” Pepper Hamilton LLP Tax Update (March 31, 2014)
  • “Complying with the Tangible Property Regulations – Procedural Guidance Provides Favorable Rules that Require Immediate Consideration,” Pepper Hamilton LLP Tax Update (March 28, 2014)
  • “Construction Is Complete on Much of the Repair Regulations” (co-author), BNA Tax and Accounting Center (September 26, 2013)
  • “IRS Issues Clarification as to the Taxability of Gift Card Sales,” Pepper Hamilton LLP Tax Update (September 4, 2013)
  • “IRS Rules That a Partially Tax-Free Transaction Qualifies as ‘Covered Transaction’ for Purposes of the Transaction Cost Regulations,” Pepper Hamilton LLP Tax Update (July 16, 2013)
  • “Does a Target or Acquiring Corporation Claim Significant Transaction Related Deductions? IRS Wades into Murky Waters” (co-author), BNA Tax Management Memorandum, Vol. 54, No. 8 (April 22, 2013).
Ms. McElroy is a member of the Colorado and American Bar Associations.

Education
B.B.A. 1982 Emory University
J.D. 1988 University of Denver College of Law; general editor, Law Review
LL.M. 1993 Georgetown University Law Center


Bar Admissions
Admitted to practice in the District of Columbia and Colorado

Ellen McElroy
Partner
Phone: 202.220.1589
Fax: 202.220.1665
mcelroye@pepperlaw.com
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Office(s)
Washington, D.C.

Practice Area(s)
Health Care Services
Tax


Articles


Final Regulations Released Revising the Tax Treatment of Sales-Based Royalties and Vendor Allowances

New IRS Guidance Offers Insight Regarding Covered Transactions Under the Transaction Cost Regulations


Complying with the Tangible Property Regulations – Procedural Guidance Provides Favorable Rules that Require Immediate Consideration

Construction Is Complete on Much of the Repair Regulations


IRS Issues Clarification as to the Taxability of Gift Card Sales

IRS Rules That a Partially Tax-Free Transaction Qualifies as ‘Covered Transaction’ for Purposes of the Transaction Cost Regulations


New Directive Correctly Resolves Use of Transaction Cost Safe Harbor for Milestone Payments – Questions Nonetheless Linger

IRS ‘Repairs’ the Examination of Tangible Property Regulation Issues


Does a Target or Acquiring Corporation Claim Significant Transaction-Related Deductions? IRS Wades into Murky Waters

Tax Issues Stirred Up by Hurricane Sandy


IRS Defers Effective Date for Repair Regulations

Tax Treatment of Deferred Start-Up Costs for Life Science Companies


Accounting Methods Update: 'Repair Regulations' and Transition Guidance

Proposed Regulations Issued for Valuing Inventory—the Retail Inventory Method


New Safe Harbor for Success-Based Fees Holds Potential Benefits for Taxpayers

New Bonus Depreciation Guidance in Rev. Proc. 2011-26 Offers Opportunities for Taxpayers


Recent Developments: Bonus Depreciation, Gift Card Guidance, and Rev. Proc. 2011-14

Proposed Regulations on Sales-Based Royalties and Vendor Allowances Under Section 263A


Revenue Procedure 2010-44 Offers Guidance for Certain Retailers

IRS Is Finishing ‘Repairs’ to its Tangible Regulations


Schedule UTP Reporting and Proposed Treasury Regulations to Implement

New IRS Ruling Endorses Standard for Determining Treatment of Transaction Costs


Bonus Accrual and the 2½ Month Rule: New CCA Shines Light on IRS Position

IRS Denial of Method Change for Royalty Expenses Highlights Standard for 'Issue Under Consideration' in Examination


Recent PLR Provides Insight Into the Treatment of Transaction Costs

U.S. Tax Court Warns Taxpayers to Mind Their Methods - Capital One Financial Corp. v. Commissioner


IRS Re-Proposes Capitalization Regulations Regarding the Treatment of Costs Associated with Tangible Assets

Private Letter Ruling 200737035, A Cautionary Tale


What to Expect During Upcoming IRS Examinations

Environmental Remediation Costs: To Deduct or to Capitalize?


New IRS Rules of Engagement - Industry Issue Focus


Articles


The Tax Treatment of Settlement Payments Under the Federal False Claims Act and in Environmental Enforcement Cases

A Discussion of the 2013 Tangible Property Regulations (Rescheduled to Oct. 21, 2013)


Tax Developments Affecting Health Care Organizations and Investor-Owned Hospital Companies


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