• Chair: Ossie Borosh, KPMG LLP, Washington, DC Opportunity Zones – Structuring Issues. This panel will discuss new guidance, various structuring techniques, and planning pitfalls relating to opportunity zones. Moderator: Tom West, KPMG LLP, Washington, DC Panelists: Colin Campbell, Attorney-Advisor, Office of Tax Policy, Department of Treasury, Washington, DC (Invited); Bryan Rimmke, Attorney-Advisor, Office of Tax Policy, Department of Treasury, Washington, DC (Invited); Lisa Starczewski, Buchanan Ingersoll & Rooney PC, Washington, DC Joint Venturing with a REIT. This panel will address the tax issues that arise when a REIT is a partner in a joint venture. The discussion will address the concerns from both the JV partner’s and the REIT’s perspective, including the related party tenant issues for the REIT. Moderator: Mark Van Deusen, Deloitte Tax LLP, Washington, DC Panelists: Julanne Allen, PwC, Washington, DC; Cristina Arumi, Hogan Lovells LLP, Washington, DC Partnership Liabilities under Section 707 and 752. This panel will discuss recent guidance on the treatment of partnership liabilities under the disguised sale rules and section 752. Moderator: Jennifer Ray, Deloitte Tax LLP, Washington, DC Panelists: Audrey Ellis, PwC, Washington, DC; Caroline Hay, IRS Office of Chief Counsel (Passthroughs & Special Industries), Washington, DC; Richard Lipton, Baker & McKenzie LLP, Chicago, IL
  • Closely Held Businesses Chair: Galina “Allie” P. Petrova, Petrova Law PLLC, Greensboro, NC TCJA – Hot Topics for Closely Held Businesses. Now that the 2018 filing season is behind us, this panel will take a look at the impact of the TCJA on closely held businesses. A roundtable of practitioners will address frequent client issues and questions relating to section 199A, section 163(j), and other new provisions and changes, as well as “real life” answers and planning solutions. Panelists: Elizabeth Stieff, Venable LLP, Baltimore, MD; Adam Abrahams, Meyers Hurvitz Abrahams LLC, Rockville, MD; Alan Gassman, Gassman Crotty & Denicolo PA, Clearwater, FL The IRS’s Increased Focus and Enforcement of Payroll Tax Debts. Payroll taxes represent nearly 70% of all revenues into the United States Treasury. Closely held businesses that fail to properly report and pay over those taxes have found themselves increasingly in the IRS and Department of Justice’s crosshairs. This panel will review the various changes in enforcement that business owners and their representatives can expect to see from the government, including increased use of injunctions, suits by the Department of Justice, and increased criminal referrals. Moderator: Eric L. Green, Green & Sklarz LLC, New Haven, CT Panelists: Frank Agostino, Agostino & Associates LLC, Hackensack, NJ; Noelle Geiger, Green & Sklarz LLC, New York, NY; Frederick W. Schindler, Director, Collection Headquarters, Small Business/Self-Employed Division, IRS, Washington, DC
  • Sponsored by: Young Lawyers Forum and Diversity A Conversation with… An in-depth discussion with Chief Judge Maurice B. Foley of the US Tax Court, one of the Tax Section’s most distinguished members, detailing his practice, history and the latest developments in tax law. Nuts and Bolts: Introduction to Ethical Considerations for Young Attorneys. This panel will discuss the ethical issues that frequently arise when representing a client before the IRS. This panel will focus on the rules and guidance, including Circular 230 and the ABA Model Rules, that young attorneys should consult when faced with an ethical conundrum. Moderator: Anne Wurtzebach, DLA Piper, New York, NY Panelists: Hon. Ronald L. Buch, US Tax Court, Washington DC (Invited); Joshua Wu, Deputy Assistant Attorney General (Policy and Planning), Department of Justice, Tax Division, Washington, DC; Brianne DeSellier, Crowe LLP, Fort Lauderdale, FL; James Steele, Morgan, Lewis & Bockius LLP, Washington, DC Workin’ On It: Understanding Employment Tax. Employment tax compliance has become an enforcement priority for the IRS and the result has been more civil examinations and criminal investigations. This panel will survey the common issues in the employment arena and approaches in defending an employment tax controversy. The panelists will discuss Section 530 relief, voluntary compliance options, the eggshell audit and the criminal referral process. Moderator: Anson Asbury, Asbury Law Firm, Decatur, GA Panelists: Lu-Ann Dominguez, Gunster, Ft. Lauderdale, FL; Brian Gardner, Taylor English, Atlanta, GA; Marissa Lenius, IRS Senior Attorney, TEGE Division Counsel, Jacksonville, FL Getting to the Truth: Fundamentals of Discovery & Public Records for SALT Lawyers. This panel will delve into a crucial reality for tax lawyers—the exchange of information between taxpayer and tax authority. State and local tax (“SALT”) lawyers encounter this in various contexts: tax audits, discovery during litigation, and requests for public records. The panel will discuss the fundamentals of obtaining information, tips to prevent and resolve disputes about the exchange of information, and protections for confidential information. The panelists represent diverse perspectives of SALT lawyers in private practice and government practice, including a tax appeal hearing officer. Moderator: Michelle DeLappe, Foster Garvey PC, Seattle, WA Panelists: Vincent Kan, Hearing Officer, Board of Appeals at Illinois Department of Revenue, Chicago, IL; Andrea Muse, Legal Reporter, Tax Analysts, Washington, DC; Jennifer Pusch, Fredrikson & Byron PA, Minneapolis, MN; Harriet A. Wessel, Mondrik & Associates, Austin, TX Co-Sponsored by: Court Procedure & Practice
  • Sponsored by: Young Lawyers Forum and Diversity A Conversation with… An in-depth discussion with Chief Judge Maurice B. Foley of the US Tax Court, one of the Tax Section’s most distinguished members, detailing his practice, history and the latest developments in tax law. Nuts and Bolts: Introduction to Ethical Considerations for Young Attorneys. This panel will discuss the ethical issues that frequently arise when representing a client before the IRS. This panel will focus on the rules and guidance, including Circular 230 and the ABA Model Rules, that young attorneys should consult when faced with an ethical conundrum. Moderator: Anne Wurtzebach, DLA Piper, New York, NY Panelists: Hon. Ronald L. Buch, US Tax Court, Washington DC (Invited); Joshua Wu, Deputy Assistant Attorney General (Policy and Planning), Department of Justice, Tax Division, Washington, DC; Brianne DeSellier, Crowe LLP, Fort Lauderdale, FL; James Steele, Morgan, Lewis & Bockius LLP, Washington, DC Workin’ On It: Understanding Employment Tax. Employment tax compliance has become an enforcement priority for the IRS and the result has been more civil examinations and criminal investigations. This panel will survey the common issues in the employment arena and approaches in defending an employment tax controversy. The panelists will discuss Section 530 relief, voluntary compliance options, the eggshell audit and the criminal referral process. Moderator: Anson Asbury, Asbury Law Firm, Decatur, GA Panelists: Lu-Ann Dominguez, Gunster, Ft. Lauderdale, FL; Brian Gardner, Taylor English, Atlanta, GA; Marissa Lenius, IRS Senior Attorney, TEGE Division Counsel, Jacksonville, FL Getting to the Truth: Fundamentals of Discovery & Public Records for SALT Lawyers. This panel will delve into a crucial reality for tax lawyers—the exchange of information between taxpayer and tax authority. State and local tax (“SALT”) lawyers encounter this in various contexts: tax audits, discovery during litigation, and requests for public records. The panel will discuss the fundamentals of obtaining information, tips to prevent and resolve disputes about the exchange of information, and protections for confidential information. The panelists represent diverse perspectives of SALT lawyers in private practice and government practice, including a tax appeal hearing officer. Moderator: Michelle DeLappe, Foster Garvey PC, Seattle, WA Panelists: Vincent Kan, Hearing Officer, Board of Appeals at Illinois Department of Revenue, Chicago, IL; Andrea Muse, Legal Reporter, Tax Analysts, Washington, DC; Jennifer Pusch, Fredrikson & Byron PA, Minneapolis, MN; Harriet A. Wessel, Mondrik & Associates, Austin, TX Co-Sponsored by: Court Procedure & Practice
  • Sponsored by: Young Lawyers Forum and Diversity A Conversation with… An in-depth discussion with Chief Judge Maurice B. Foley of the US Tax Court, one of the Tax Section’s most distinguished members, detailing his practice, history and the latest developments in tax law. Nuts and Bolts: Introduction to Ethical Considerations for Young Attorneys. This panel will discuss the ethical issues that frequently arise when representing a client before the IRS. This panel will focus on the rules and guidance, including Circular 230 and the ABA Model Rules, that young attorneys should consult when faced with an ethical conundrum. Moderator: Anne Wurtzebach, DLA Piper, New York, NY Panelists: Hon. Ronald L. Buch, US Tax Court, Washington DC (Invited); Joshua Wu, Deputy Assistant Attorney General (Policy and Planning), Department of Justice, Tax Division, Washington, DC; Brianne DeSellier, Crowe LLP, Fort Lauderdale, FL; James Steele, Morgan, Lewis & Bockius LLP, Washington, DC Workin’ On It: Understanding Employment Tax. Employment tax compliance has become an enforcement priority for the IRS and the result has been more civil examinations and criminal investigations. This panel will survey the common issues in the employment arena and approaches in defending an employment tax controversy. The panelists will discuss Section 530 relief, voluntary compliance options, the eggshell audit and the criminal referral process. Moderator: Anson Asbury, Asbury Law Firm, Decatur, GA Panelists: Lu-Ann Dominguez, Gunster, Ft. Lauderdale, FL; Brian Gardner, Taylor English, Atlanta, GA; Marissa Lenius, IRS Senior Attorney, TEGE Division Counsel, Jacksonville, FL Getting to the Truth: Fundamentals of Discovery & Public Records for SALT Lawyers. This panel will delve into a crucial reality for tax lawyers—the exchange of information between taxpayer and tax authority. State and local tax (“SALT”) lawyers encounter this in various contexts: tax audits, discovery during litigation, and requests for public records. The panel will discuss the fundamentals of obtaining information, tips to prevent and resolve disputes about the exchange of information, and protections for confidential information. The panelists represent diverse perspectives of SALT lawyers in private practice and government practice, including a tax appeal hearing officer. Moderator: Michelle DeLappe, Foster Garvey PC, Seattle, WA Panelists: Vincent Kan, Hearing Officer, Board of Appeals at Illinois Department of Revenue, Chicago, IL; Andrea Muse, Legal Reporter, Tax Analysts, Washington, DC; Jennifer Pusch, Fredrikson & Byron PA, Minneapolis, MN; Harriet A. Wessel, Mondrik & Associates, Austin, TX Co-Sponsored by: Court Procedure & Practice
  • Chair: Laura Gould, Reed Smith LLP, London, United Kingdom US Activities of Foreigners & Tax Treaties Chair: Summer A. LePree, Bilzin Sumberg Baena Price & Axelrod LLP, Miami, FL Revisiting the BEAT. Following up on the 2018 proposed regulations, Treasury released both final and proposed regulations addressing the BEAT. This panel will focus on some of the changes made by Treasury from the 2018 proposed regulations to the final regulations, including rules relating to the treatment of certain corporate nonrecognition transactions, the treatment of aggregate group members with different tax years and the treatment of built-in loss property in certain transactions. Additionally, this panel will highlight some of the provisions Treasury chose not to adopt in the final regulations. Finally, the panel will provide an overview of the newly proposed regulations that include rules relating to aggregate groups, partnerships and an election to waive deductions. Panelists: Amie Colwell Breslow, Jones Day, Washington, DC; Joseph Calianno, BDO USA LLP, Washington, DC; Lucas Giardelli, Mayer Brown LLP, New York, NY; David Peter Merkle, IRS Office of Associate Chief Counsel (International), Washington, DC (Invited); Douglas Poms, International Tax Counsel, Department of Treasury, Washington, DC (Invited) Opening Pandora’s Box: IP Tax Incentives in the US & Europe. Many OECD countries have adopted patent box regimes or other rules intended to incentivize corporations to hold intellectual property within their jurisdiction, some of which have been the subject of recent reform following the BEPS Reports, and in particular Action 5. Although the 2017 Tax Act did not include a traditional patent box regime, it did add the new foreign-derived intangible income (FDII) rules, which, in connection with other rules added by the 2017 Tax Act, are generally intended to encourage domestic corporations to hold intellectual property in the United States. Using case studies, this panel of experts will explore the differences and similarities between FDII and patent box and similar rules in the UK and certain EU-member countries, as well as the interaction of the FDII rules with certain domestic rules in those countries that can impact IP structuring decisions for multinationals. The panel will also discuss potential international trade reaction to the FDII rules, including from an EU perspective. Moderator: Barbara Rasch, KPMG LLP, Los Angeles, CA Panelists: Sandy Radmanesh, German Tax Attaché, German Embassy, Washington, DC; James Somerville, A&L Goodbody, Dublin, Ireland; Natalie Repyens, Loyens & Loeff CVBA, Brussels, Belgium; Robert Gaut, Proskauer Rose (UK) LLP, London, UK; Romain Tiffon, Atoz Tax Advisers, Luxembourg Foreign Lawyers Forum – Anti-Hybrid Rules: The New World. With the EU setting a January 1, 2020 deadline for the introduction of anti-hybrid rules under ATAD2 and the implementation of anti-hybrid rules under the TCJA, this timely panel will discuss the potential application of anti-hybrid rules. The panel will provide updates on the implementation of the ATAD 2 rules in key EU member states, an update on the application of the US anti-hybrid rules following the publication of the proposed regulations just over a year ago and the UK’s existing and wide-reaching legislation. Through case studies, this expert panel will explore the differences, similarities and interaction between these various rules and highlight traps for the unwary in a sample of typical cross-border structures used by multinationals and fund structures. Moderator: Brian Krause, Skadden Arps Slate Meagher & Flom, New York, NY Panelists: Robert Gaut, Proskauer Rose (UK) LLP, London, UK; David Kilty, Arthur Cox, Dublin, Ireland; Kévin Emeraux, Loyens & Loeff (Luxembourg), New York, NY; Shane M. McCarrick, Attorney-Advisor, IRS Office of Associate Chief Counsel (International), Washington, DC
  • Chair: Stephen Breitstone, Meltzer Lippe Goldstein & Breitstone LLP, Mineola, NY Real Estate Chair: Ossie Borosh, KPMG LLP, Washington, DC Nuts and Bolts of Opportunity Zones and Qualified Opportunity Funds. This panel will cover the law, regulations, and the practical implementation thereof for Opportunity Zones (“OZs”) and Qualified Opportunity Funds (“QOFs”). It is the perfect panel both for those unfamiliar with OZs and QOFs, as well as those who are familiar with the law and regulations but have not practiced in the area. Additionally, seasoned practitioners will benefit from a discussion of the final regulations with respect to OZs. Moderator: Matthew Rappaport, Falcon Rappaport & Berkman PLLC, Rockville Center, NY Panelists: Richard Blumenreich, KPMG LLP, Washington, DC; Alan S. Lederman, Gunster, Fort Lauderdale, FL; Leila Vaughan, Royer Cooper Cohen Braunfeld LLC, Conshohocken, PA; Julie Hanlon-Bolton, Special Counsel, IRS Associate Chief Counsel (Income Tax & Accounting), Washington, DC Common and Complex Case Studies and Real-World Issues with Opportunity Zones and Qualified Opportunity Funds. The second hour of this program will focus on issues related to funds, raising capital, and dispositions. This discussion will be valuable both for practitioners just learning about OZs and QOFs and for seasoned professionals, as it will incorporate a discussion of transaction structures. Additionally, there will be a further discussion of the final regulations covering OZs. Moderator: Tom West, KPMG LLP, Washington, DC Panelists: Richard Blumenreich, KPMG LLP, Washington, DC; Mark Wilensky, Meltzer Lippe Goldstein & Breitstone LLP, Mineola, NY; Julie Hanlon-Bolton, Special Counsel, IRS Associate Chief Counsel (Income Tax & Accounting), Washington, DC
  • Chair: Sam Weiler, EY, Columbus, OH Current Developments and Update on Pending Guidance. This panel will cover the important recent developments in the areas of capital recovery and leasing. Moderator: Jessica Hawn, Andersen, Chicago, IL Panelists: Kathy Reed, Branch Chief, Branch 7, Office of Chief Counsel – Income Tax & Accounting, IRS, Washington, DC (Invited); Wendy Friese, Tax Policy Advisor, Department of Treasury, Washington, DC (Invited); Andrew Eisinger, Crowe, Atlanta, GA Transactions and Bonus Depreciation. This panel will discuss various corporate and partnership transactions and their impact on the availability of bonus depreciation under section 168(k). Moderator: Nicole Field, EY, Washington, DC Panelists: Kathy Reed, Branch Chief, Branch 7, Office of Chief Counsel – Income Tax & Accounting, IRS, Washington, DC (Invited); Wendy Friese, Tax Policy Advisor, Department of Treasury, Washington, DC (Invited); Mark Weiss, Branch Chief, Branch 2, Office of Chief Counsel – Corporate, IRS, Washington, DC (Invited); Bryan Rimmke, Attorney-Advisor, Department of Treasury, Washington, DC (Invited); Jason Dexter, KPMG, Washington, DC; Richard Nugent, Jones Day, New York, NY Implementing the Bonus Depreciation Regulations. This panel will be focused on the procedural aspects of implementing the final and re-proposed bonus depreciation regulations under section 168(k), with a specific focus on the issues and opportunities raised by the recent guidance and the actions that taxpayers can take to align their current and prior year return positions with the regulations. Moderator: Jane Rohrs, Deloitte, Washington, DC Panelists: Kathy Reed, Branch Chief, Branch 7, Office of Chief Counsel – Income Tax & Accounting, IRS, Washington, DC (Invited); Wendy Friese, Tax Policy Advisor, Department of Treasury, Washington, DC (Invited); Jaime Park, Attorney, Office of Chief Counsel – Income Tax & Accounting, IRS, Washington, DC (Invited); Andrea Mouw, Eide Bailley, Minneapolis, MN
  • Chair: Professor Timothy M. Todd, Liberty University School of Law, Lynchburg, VA Recent IRS Guidance on Bitcoin and Other Virtual Currencies. On October 9th, 2019 the IRS issued Revenue Ruling 2019-24 which addressed the tax consequences of forks and airdrops as well as a series of FAQ’s that cover a number of common virtual currency situations. This panel will go through the nuts and bolts application of the October guidance, how to advise taxpayers that previously took a position contrary to the guidance, and the inherent limitations of releasing guidance by FAQ. The panel will also address some of the uncertainties of forks that still exist post R.R. 2019-24 and what future guidance is needed for virtual currencies. Panelists: Professor Annette Nellen, San Jose State University, San Jose, CA; James Creech, Law Offices of James Creech San Francisco, CA; Christopher Wrobel, IRS Office of Chief Counsel, Income Tax and Accounting, Washington, DC (Invited) Co-sponsored by: Administrative Practice, Sales Exchange & Basis, and Teaching Taxation Designated Orders in the US Tax Court. The US Tax Court issues over 100 orders each day; most are unremarkable. None are precedential under Tax Court Rule 50(f). Some, however, are interesting, involving the disposition of complicated, substantive issues. Each day, the Tax Court “designates” these orders through publication on its website—an average of one order per day since mid-2017. No other federal court highlights non-precedential orders in this manner. Why does the Tax Court? What lessons can practitioners learn from these orders? This panel will discuss these questions and will present a statistical summary of the Tax Court’s designated orders for the past two years. Moderator: Professor Keith Fogg, Federal Tax Clinic, Harvard Law School, Jamaica Plain, MA Panelists: Professor Patrick W. Thomas, Notre Dame Law School, South Bend, IN; Professor Caleb Smith, University of Minnesota Law School, Minneapolis, MN; Special Trial Judge Diana Leyden, US Tax Court, Washington, DC; Richard G. Goldman, Deputy Associate Chief Counsel (Procedure & Administration) IRS, Washington, DC Due Diligence and Preparer Penalties Following TCJA: Expanded and Potentially Expensive. The IRS conducts due diligence audits of tax return preparers as part of its overall tiered return preparer strategy. Following TCJA, tax return preparers face a possible civil tax penalty for failing to exercise due diligence when preparing an income tax return on which the taxpayer claims head of household (HOH) filing status. In addition to filing status, the penalty now applies for failing to exercise due diligence in preparing returns claiming the earned income tax credit, (EITC), the child tax credit (CTC), including the additional child tax credit (ACTC), and the credit for other dependents (ODC), and the American opportunity tax credit (AOTC). The penalty in 2018 was $520 for each failure. This panel will explore how due diligence penalties fit in with the IRS’s overall compliance efforts directed toward paid return preparers, provide a practitioner’s perspective on IRS due diligence audits, and review how preparers can challenge the penalties before the IRS and in federal court. Moderator: Professor Leslie Book, Villanova University Widger School of Law, Villanova, PA Panelists: Laura Baek, Acting Executive Director of Case Advocacy – Intake and Technical Support, IRS, Washington, DC; Naomi Mbugua-Dillard, Supervisory Management and Program Analyst Refundable Credit Administration – Policy Coordination, W&I, IRS, Atlanta, GA; Michael A. Lampert, The Law Offices of Michael A. Lampert, West Palm Beach, FL
  • Chair: Richard C. LaFalce, Morgan Lewis & Bockius LLP, Washington, DC Non-US Investors in Private Funds. This panel will discuss recent US tax developments that impact private funds that admit non-US investors and the practical implications for private funds. The panelists will address tax reporting and managing the downward attribution rules for controlled foreign corporations, the formation and structuring of corporate blockers, withholding tax issues and negotiating side letter provisions for non-US investors in the private fund context. Moderator: Ryan Au, Sherman & Sterling, Washington, DC Panelists: Jeffrey Tate, Arent Fox, Washington, DC; David Richardson, KPMG, New York, NY; Friedemann Thomma, Venable, San Francisco, CA Overview of Collective Investment Trusts: Popular Alternative to Mutual Funds for Institutional Investors. This panel will discuss collective investment trust structures used by institutional retirement investors as alternatives to mutual funds and other pooled investment vehicles. Topics will include their regulation, organization and operation, key similarities and differences between trusts and mutual funds, and other vehicles, investment-related tax law considerations, and recent market trends. Moderator: Amy Snyder, The Vanguard Group Inc., Malvern, PA Panelists: Charles M. Horn, Morgan Lewis & Bokius LLP, Washington, DC; Marcy Kempf, Cohen & Company, Milwaukee, WI; Laura Parello, PwC, New York, NY The Latest in Drafting Investment Fund Agreements. This panel will discuss carried interest waivers, management fee waivers, 1446(f) indemnities, and BBA provisions. Moderator: Anthony Tuths, KPMG, New York, NY Panelists: Jon P. Brose, Seward & Kissel LLP, New York, NY; Janicelynn Asamoto Park, Proskauer, New York, NY
  • Chair: Heesun Grace Kim, Grant Thornton LLP, Washington, DC Hot Topics. This panel will discuss recent developments in the area of partnership taxation, including legislation, regulations, administrative guidance and noteworthy cases. Moderator: Tom West, KPMG LLP, Washington, DC Panelists: Bryan Rimmke, Attorney-Advisor, Office of Tax Policy, Department of Treasury, Washington, DC (Invited) How Far Will You Carry Your Client? Section 1061 As It Stands Today. This panel will discuss section 1061 (the so-called “carried interest” provision) enacted under the TJCA. The panel will outline the technical aspects of section 1061 and highlight some of its ambiguities. The panel will further discuss current developments that have occurred since its enactment—including specific guidance recommendations made by the Partnership Committee. The panel will also discuss what the future proposed regulations under section 1061 may provide. Moderator: Todd Golub, EY, Chicago, IL Panelists: Kara Altman, IRS Office of Chief Counsel (Passthroughs & Special Industries), Washington, DC (Invited); Audrey Ellis, PwC, Washington, DC; Morgan Klinzing, Pepper Hamilton LLP, Philadelphia, PA; Mike Scaramella, Deloitte LLP, Chicago, IL Tax Issues of Dry Partnerships. This panel will address tax issues that arise when a partnership owns stock in a corporation as its sole or primary asset, including section 704(b) allocation issues (e.g., with regard to preferred distribution rights), issuance of compensatory partnership interests to employees of the corporation, and the application of section 704(c). Moderator: Eric Sloan, Gibson Dunn & Crutcher LLP, New York, NY Panelists: Josh Brady, Grant Thornton LLP, Washington, DC; Erin Cleary, Debevoise & Plimpton LLP, New York, NY
  • Chair: Jana S. Lessne, KPMG LLP, Washington, DC A “Quick Dip” in the Water – A Summary of Recent Transfer Pricing Issues. This program will provide a “refreshing dip” into the latest and most significant transfer pricing issues. We will dive into the OECD’s recent proposal for a Unified Approach to the tax challenges of digitalization, including the proposed new tax nexus rule for in-scope taxpayers, revised profit allocation rules, and pending key questions. We will then splash around in the final and proposed BEAT regulations, focusing on issues such as non-recognition transactions that may give rise to base erosion payments, the lack of an exception for payments to foreign entities that are subject to GILTI and/or Subpart F, and additional clarification on whether payments can be netted against one another to reduce base erosion payments. We will next take a couple of laps through the recently released functional cost diagnostic model or “FCDM”, including some observations on how this model has been used in actual APA negotiations. Lastly, we will catch a few rays, shedding some light on recent transfer pricing litigation, discussing recent developments in major cases such as Amazon, Altera, Medtronic, and other significant cases. Moderator: Heather Gorman, EY, New York, NY Panelists: Christopher J. Bello, Branch Chief, Branch 6, IRS Office of Associate Chief Counsel (International), Washington, DC (Invited); Professor William Byrnes, Texas A&M University School of Law, Fort Worth, TX; Professor Mindy Herzfeld, University of Florida Levin College of Law, Gainesville, FL; Professor Steve Johnson, Florida State University, Tallahassee, FL; Donna McComber, Baker & McKenzie Consulting LLC, Washington, DC; Robert Stack, Deloitte Tax LLP, Washington, DC