David Shechtman

Of Counsel

Philadelphia

(215) 988-1167 phone
(215) 988-2757 fax

David Shechtman is chair of the Business Tax Team in the Corporate & Securities Practice Group.  His practice includes a wide range of federal, state and local tax matters, including tax aspects of mergers, acquisitions and recapitalizations; S corporations and partnerships; and administrative appeals of federal, state and local tax controversies.  He has developed a national practice in the area of like-kind exchanges of real estate and other assets.  In his capacity as counsel to taxpayers and various exchange intermediaries, David has structured and documented hundreds of like-kind exchange transactions for major oil and gas, telecommunications and railroad companies, as well as REITs and smaller real estate owners.

David frequently writes on tax topics and also lectures at American Bar Association meetings and various conferences on tax law.  He is an active member of the Section of Taxation of the American Bar Association, and is the immediate past chair of the Committee on Sales, Exchanges and Basis.  David is a former officer of the Philadelphia Bar Association's Tax Section and has chaired several committees which comment on proposed federal and state regulations.  He also is the author of the chapters on federal and Pennsylvania taxes in the West publication Pennsylvania Forms and Commentary - Business Organizations.  David is a fellow of the American College of Tax Counsel.

David is admitted to practice in Pennsylvania.

Presentations and Publications. David frequently speaks on the subject of like-kind exchanges and other tax topics and has been quoted frequently on tax issues in the Wall Street Journal and other business publications.  He has spoken at all 14 National Conferences on Like-Kind Exchanges sponsored by the Center for Professional Seminars, the last nine national like-kind exchange seminars sponsored by Wells Fargo Exchange Services, as well as various programs sponsored by the Pennsylvania Bar Institute and the NYU Federal Tax Institute.  He recently presented at an ABA webcast on “Tax Issues for Ponzi Scheme Victims.” David’s publications include: Someone Made Off With My Money, Now What? Taxations of Investments, Summer 2009; Like-Kind Exchanges and Bankrupt Intermediaries, Tax Notes July 6, 2009; IRS Provides Exchange Deadline Relief for Disaster Victims and (Perhaps) a Remedy for Others, Real Estate Taxation, Volume 32/Issue 4, Third Quarter 2005, Thompson Legal & Regulatory Group and Reverse and Build-to-Suit Like Kind Exchanges, Proceedings of the New York University 59th Institute on Federal Taxation, Fall 2001.

In General. A 1974 graduate of Swarthmore College, David received his bachelor's degree, with high honors, in economics. An active participant in undergraduate activities, he served as an editor of the campus newspaper and played on the varsity basketball team. David earned his J.D. from Cornell University Law School in 1977. While in law school, he was a moot court finalist and won the Evidence Prize for the best evidence exam. David was honored as Best Lawyers® Philadelphia Tax Lawyer of the Year for 2014/15.

Representative Matters

  • Obtaining a private letter ruling for one of the first "repetitive exchange programs" used by an auto leasing company for every disposition of its off-lease vehicles.
  • Assisting a home builder client in establishing a structure for equity-based employee compensation combined with tax efficient inter-company transfers of land.
  • For a major oil and gas company, structuring as a series of safe-harbor "reverse" exchanges, an ongoing "raze and rebuild" program for existing gas station properties.
  • Obtaining a private letter ruling on the tax consequences of a “structured settlement” of an employment discrimination claim.

Publications

11/11/2014
Client Alert
Pennsylvania Department of Revenue Clarifies Changes to New Realty Transfer Tax Law
5/29/2014
Bloomberg/BNA
Quality Stores and the FICA Tax Kerfuffle
7/24/2013
Client Alert
Pennsylvania Enacts Tax Law Changes
1/28/2013
Journal of Taxation of Investments
The Trustee Made Off With My Net Winnings – Now What? Questions Remain After IRS Guidance on Ponzi Scheme Clawbacks
5/26/2011
Exchanging Times
Recent Taxpayer Victory in Pennsylvania § 1031 Case
7/14/2009
Tax Notes
Like-Kind Exchanges and Qualified Intermediaries
5/23/2009
Journal of Taxation of Investments
Someone Made Off With My Money, Now What? Tax Issues Affecting Ponzi Scheme Victims
1/31/2008
Tax Alert
Pennsylvania Realty Transfer Tax Update
12/7/2007
Pennsylvania Department of Revenue Makes Major Changes to Realty Transfer Tax Regulations
7/21/2006
Tax Alert
Changes to Pennsylvania’s Taxes

Speaking Engagements

12/16/2013
Philadelphia Bar Association Tax Section Annual Meeting
Tax Consequences of Litigation Settlements and Award
10/24/2013
National Conference on Like-Kind Exchanges Under Section 1031 I.R.C.
Constructive Receipt Issues in Deferred, Reverse and Program Exchanges
1/26/2013
ABA Tax Section Winter Meeting
Ponzi Scheme Update: Tax Treatment of Clawbacks and Other Items
10/25/2012
Wells Fargo Exchange Services
15th Annual National Like-Kind Exchanges Conference
10/27/2011
Wells Fargo and Center for Professional Seminars
10/22/2011
ABA Section of Taxation and Section of Real Property, Trust and Estate Law 2011 Joint Fall CLE Meeting
9/24/2011
2011 FEA Annual Conference
8/12/2011
McDevitt & Kline, LLC
  • Obtaining a private letter ruling for one of the first "repetitive exchange programs" used by an auto leasing company for every disposition of its off-lease vehicles.
  • Assisting a home builder client in establishing a structure for equity-based employee compensation combined with tax efficient inter-company transfers of land.
  • For a major oil and gas company, structuring as a series of safe-harbor "reverse" exchanges, an ongoing "raze and rebuild" program for existing gas station properties.
  • Obtaining a private letter ruling on the tax consequences of a “structured settlement” of an employment discrimination claim.