• 2020 May Tax Meeting April 30 - May 2, 2020 Marriot Marquis, Washington, DC

     
  • Chair: Roger Royse, Royse Law Firm, Menlo Park, CA Ethical Challenges Posed by the Use of Predictive Case Analytics In Tax. The use of predictive case analytics software has dramatically increased in the worlds of tax and accounting in the last couple of years. This powerful artificial intelligence tool can accurately predict court outcomes and enable users to find relevant cases and court opinions faster than ever before. While the utility of this transformative technology may be evident, tax practitioners should be cautious of the challenges related to the use of this futuristic software. This panel will discuss the ethical and practical challenges related to the use of predictive case analytics software and what tax practitioners should be aware of when they represent clients in the future. Panelists: Travis Thompson, Sideman & Bancroft LLP, San Francisco, CA; Abdi Aidid, BlueJ Legal, Toronto, ON; Robert Kovacev, Norton Rose Fulbright, Washington, DC; Lisa Nelson, The Law Offices of A. Lavar Taylor, Santa Ana, CA
  • Chair: Thomas J. Phillips, von Briesen & Roper, s.c., Milwaukee, WI Closely Held Businesses Chair: Galina “Allie” P. Petrova, Petrova Law, Greensboro, NC Planning Considerations and Issues for Trusts as Owners of S Corporations and other Closely Held Business. This panel will discuss selected federal and state income tax issues that arise from the ownership of interests in closely held businesses by trustees of trusts. The panel will address a number of issues, including structuring basics, recent case law updates, qualified small business stock, section 199A , and the new partnership audit rules. Moderator: Andrew R. Comiter, Comiter Singer Baseman & Braun, Palm Beach Gardens, FL Panelists: Karen Sandler Steinert, Fredrikson & Bryon PA, Minneapolis, MN; Brad Roe, Grant Thornton, Houston, TX; Adam Abrahams, Meyers Hurvitz Abrahams LLC, Rockville, MD
  • Chair: Lany L. Villalobos, Dechert LLP, Philadelphia, PA TCJA Recent Developments and Policy Considerations Concerning Payments Related to Sexual Harassment Under Code Section 162(q) and Fines and Penalties Under Code Section 162(f). The Tax Cuts and Jobs Act amended the Internal Revenue Code to address the deduction of certain payments related to sexual harassment or sexual abuse settlements that involve nondisclosure agreements and the deduction of payments that constitute restitution or amounts paid to come into compliance with any law. This panel will discuss recent technical developments (including recent guidance) with respect to these payments under Code Sections 162(f), 162(q) and 6050X and policy considerations related to the federal tax treatment of these payments. Moderators: Rayth Myers, EY, Washington, DC; Susan Grais, EY, Washington, DC Panelists: John Moriarty, Associate Chief Counsel, IRS Office of Chief Counsel (Income Tax & Accounting), Washington, DC; Sharon Horn, Senior Attorney, IRS Office of Associate Chief Counsel (Income Tax & Accounting), Washington, DC; Connie Cheng Cunningham, BDO USA LLP, Los Angeles, CA
  • Chair: Lany L. Villalobos, Dechert LLP, Philadelphia, PA Earned Income Tax Credit: Ideas for Reform. The Earned Income Tax Credit (EITC) is the most significant earnings-based refundable credit in the Internal Revenue Code. In Tax Credits for the Working Poor: A Call for Reform, Michelle Lyon Drumbl discusses the use of domestic revenue systems in the United States and other countries to deliver and administer social welfare benefits to low-income individuals and families. There have been many proposals to modify or replace the EITC to address some of the current limitations in the EITC, including the Len Burman’s proposal for a new Universal EITC. In light of Drumbl’s recent book and these proposals, as well as last year’s National Taxpayer Advocate Special Report to Congress, Making the EITC Work for Taxpayers and the Government, the panelists will identify challenges for low-income taxpayers with respect to EITC administration and will discuss recent plans for EITC reform. Panelists: Professor Michelle Lyon Drumbl, Washington & Lee University School of Law, Lexington, VA; Professor Leslie Book, Charles Villanova University Widger School of Law, Villanova, PA; Leonard Burman, Syracuse University Maxwell School of Citizenship and Public Affairs and Urban Institute/Tax Policy Center, Syracuse, NY; Margot Crandall-Hollick, Congressional Research Service, Washington, DC Co-sponsored by: Pro Bono & Tax Clinics
  • Chair: Alexandra Minkovich, Baker & McKenzie, Washington, DC Limited Scope Representation: Expanding Access to Legal Services. In May of 2019, the Tax Court announced that it adopted procedures to permit practitioners to enter a limited appearance at scheduled trial sessions. The procedures recently took effect at the beginning of the 2019 Fall Term. This panel will discuss the rules regarding the Tax Court’s new procedure as well as compare and contrast those rules and similar rules in other jurisdictions. This panel will also address the practical considerations and implications of representing a taxpayer under a limited scope appearance. Moderator: Annie Wurtzebach, DLA Piper, New York, NY Panelists: Special Trial Judge Diana L. Leyden, US Tax Court, Washington DC; Derek Richman, Senior Attorney, IRS Office of Chief Counsel, Miami, FL (Invited); Mitchell I. Horowitz, Buchanan Ingersoll & Rooney PC, Tampa, FL; Phillip Colasanto, Agostino & Associates, Hackensack, NJ
  • Chair: Amish Shah, Eversheds Sutherland, Washington, DC Energy Industry Tax Updates Roundtable. This roundtable session will be a discussion among attendees of recent legislative, judicial and regulatory tax developments impacting the energy sector and companies engaged in renewable, alternative and traditional energy transactions, investments and operations in the power, fuels and carbon capture industries. Moderator: Amish Shah, Eversheds Sutherland, Washington, DC Panelists: Jennifer Bernardini, Attorney, Branch 6, Passthroughs and Special Industries, IRS, Washington, DC (Invited); Hannah Hawkins, Deputy Tax Legislative Counsel, Department of Treasury, Office of Tax Policy, Washington, DC (Invited); Brian Americus, Deloitte, Washington, DC; Deborah Gordon, KPMG, Washington, DC; Brad Seltzer, Eversheds Sutherland, Washington, DC
  • Chair: Professor Diane Ring, Boston College, Newton, MA Opportunity Zones – Two Years In. The Tax Cuts and Jobs Act enacted in December 2017 included a new provision intended to direct investment into low-income communities through a combination of tax benefits for investors (deferral, partial reductions in gains, and exclusions of future appreciation). Though the enactment of such targeted tax incentives is not entirely new, the design of this provision has raised significant questions for investing taxpayers seeking to secure the tax benefits and for public policy advocates assessing whether the Opportunity Zone provisions achieve their stated goals. To explore all of these issues, this panel will discuss the design of the new incentive, who is making the investments, where, in what projects, how much is being invested, who is securing the benefits, and what will be the likely community impact. The panel also considers the current data reporting requirements and what/whether data should be made public to facilitate assessment of the program’s success in promoting economic growth in low-income areas. Moderator: Professor Ellen Aprill, Loyola Law School, Los Angeles, CA Panelists: Megan Christensen, Manatt Phelps & Phillips, LLP, Washington, DC; Professor Edward De Barbieri, Albany Law School, Albany, NY; Jeffrey Koonce, Bernhard Capital Partners Management, Baton Rouge, LA; Professor Michelle Layser, University of Illinois College of Law, Champaign, IL Co-sponsored by: Exempt Organizations and Partnerships & LLCs
  • Chair: Guinevere Moore, Johnson Moore LLC, Chicago, IL Vice-Chair: Matthew Cooper, Deloitte Tax LLP, Washington, DC Ethical Issues in Federal Tax Practice – The Government Perspective. This panel will provide an update on recent guidance from the Internal Revenue Service and the Treasury Department, discuss issues of concern and areas of focus for the IRS Office of Professional Responsibility and Office of Chief Counsel, and give an update on pending cases that relate to tax practice standards. Moderator: Aaron Esman, Caplin & Drysdale Chartered, New York, NY Panelists: Sharyn M. Fisk, Director, IRS Office of Professional Responsibility, Washington, DC; Emily Lesniak, Special Counsel (Procedure & Administration), IRS Office of Chief Counsel, Washington, DC Ethical Considerations for Limited Scope Engagements. Ethical considerations in pro bono representation, whether practicing before the IRS or before the Tax Court. Panelists will discuss dilemmas pro bono attorneys may face when representing tax clients at settlement days, calendar calls, and via direct representation outside of the courtroom. Discussions will include limited scope and limited time representation. Panelists will also provide advice on how to avoid the perils related to pro bono representation of taxpayer clients. This panel is the first part of a two part series co-sponsored with the Pro Bono Committee. Moderators: Shanthy Balachanthiran, Florida Rural Legal Services Inc., LITC, Ft. Myers, FL Panelists: The Honorable Peter J. Panuthos, US Tax Court, Washington, DC; Jennifer Breen, Morgan Lewis & Bockius, Washington, DC; Guinevere Moore, Johnson Moore LLC, Chicago, IL; Scott Hessell, Sperling & Slater, Chicago, IL; Jennifer Auchterlonie, Special Counsel (Procedure & Administration), IRS Office of Chief Counsel, Washington, DC Ethical Considerations Arising Out of the BBA Partnership Audit Rules. Now that the BBA partnership audit regime is in full swing, interesting ethical questions are arising in both the IRS examination and partnership amended return contexts. This panel will explore practitioners’ ethical considerations relating to the broad authority of the partnership representative, the lack of participation and notice rights to all partners, the submission of administrative adjustment requests, and other novel issues under the BBA rules. In addition, this panel will discuss giving advice to partnerships and partners who may have conflicting interests as to the best way to resolve an IRS audit or correct a partnership return. Moderator: Matt Cooper, Deloitte Tax LLP, Washington, DC Panelists: Emily Lesniak, Special Counsel (Procedure & Administration), IRS Office of Chief Counsel, Washington, DC (Invited); Sheri Dillon, Morgan Lewis & Bockius LLP, Washington, DC; Rochelle Hodes, Crowe LLP, Washington, DC; Alice Harbutte, EY, Denver, CO
  • 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
  • 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: 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