American Bar Association - Section of Taxation

Session : ABATX9151
Capital Recovery & Leasing
Conference : 2009 Joint Fall CLE Meeting
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$30.00

Chair: Susan Grais, Ernst & Young LLP, Washington, DC

Current Developments Report and Update on Pending Guidance. This program will cover the important recent developments in the areas of capital recovery and leasing since the 2009 May Meeting held in Washington, DC, and provide an update on guidance projects in these areas, including the currently proposed tangible property regulations under section 263(a). Moderator: Allison Jones, Ernst & Young LLP, Washington, DC. Panelists: Brandon Carlton, Taxation Specialist, Office of Tax Legislative Counsel, Department of Treasury, Washington, DC; Susan Grais, Ernst & Young LLP, Washington, DC.

Section 7701(e) Update. This program will discuss the topical issues related to the application of section 7701(e). Depreciable property leased to certain tax-exempt entities may be required to be recovered over a longer period than the otherwise applicable MACRS recovery period. In addition, property leased to certain tax-exempt entities is not eligible for the investment tax credit for energy property. Panelists will discuss circumstances in which section 7701(e) could apply to recharacterize a services agreement with a tax-exempt entity as a lease. The panel will consider common commercial arrangements such as sales of solar energy to municipalities and public school districts, as well as the manner in which section 7701(e) can impact the tax consequences of the transactions. Moderator: Glenn Johnson, Ernst & Young LL P, Washington, DC. Panelists: Kevin Juran, KPMG LL P, Washington, DC; Katherine Breaks, KPMG LLP, Washington, DC.

Session : ABATX9152
Administrative Practice
Conference : 2009 Joint Fall CLE Meeting
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$30.00

Chair: Fred F. Murray, Grant Thornton LLP, Washington, DC

Back-to-Basics: Closing Agreements. Whether you are a seasoned tax attorney or just beginning your career, understanding (or re-visiting) the basics of any issue is important. This particular panel is designed to provide an overview of closing agreements from both the taxpayer and IRS perspective. The panel will examine issues concerning the appropriate use, form and content, proper execution and interpretation and binding effect of closing agreements. Moderator: Gregory J. Gawlik, Thompson Hine, Cleveland, OH. Panelists: Kevin Johnson, Chamberlain Hrdlicka White Williams & Martin, Philadelphia, PA; Thomas J. Kane, Special Counsel, Office of the Associate Chief Counsel (Procedure & Administration), IRS, Washington, DC.

Tools Your Bankruptcy/Tax Toolkit Must Have In Order to Build a Successful Bankruptcy Filing. Views from the bench, IRS and practicing attorneys. Moderator: Grover Hartt II, Special Litigation Counsel, Tax Division, Department of Justice, Dallas, TX. Panelists: Honorable James E. Shapiro, US Bankruptcy Judge, Milwaukee, WI; Miriam A. Howe, Area Counsel, SB/SE Division, IRS, Chicago, IL; Richard Fogel, Shaw Gussis Fishman Glantz Wolfson & Towbin LLC, Chicago, IL.

Walking the Line(s) and Not Crossing Them: Parallel Civil and Criminal Examinations. FBARs and other foreign activity reporting, international information exchanges under treaties and other multi-lateral cooperation and international compliance initiatives have created an increasing intersection of criminal and civil tax proceedings. This panel will discuss examination issues that arise when both civil and criminal tax cases are being pursued simultaneously. Moderator: Fred F. Murray, Grant Thornton LLP, Washington, DC. Panelists: Dana J. Boente, First Assistant US Attorney, Eastern District of Virginia, Department of Justice, Alexandria, VA; Sara M. Coe, Deputy Division Counsel, SB/SE Division, IRS, Washington, DC; Mark E. Matthews, Morgan Lewis & Bockius LLP, Washington, DC.

Important Developments. This panel will discuss important developments in administrative practice that have occurred since the 2009 May Meeting held in Washington, DC. Moderator: Jennifer Breen, PricewaterhouseCoopers LLP, Washington, DC. Panelists: Deborah A. Butler, Associate Chief Counsel (Procedure and Administration), IRS, Washington, DC; Thomas R. Thomas, Division Counsel, SB/SE Division, IRS, Washington, DC; Corina Trainer, PricewaterhouseCoopers LLP, Washington DC.

Session : ABATX9153
Affiliated & Related Corporations
Conference : 2009 Joint Fall CLE Meeting
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Chair: Jonathan Forrest, Deloitte Tax LLP, Washington, DC

Current Developments. This panel will review recent developments in the consolidated return area, including relevant private letter rulings and technical advice memoranda. Moderator: Mark Schneider, Deloitte Tax LLP, Washington, DC. Panelists: Devon M. Bodoh, Dewey & LeBoeuf LLP, Washington, DC; Marc Countryman, Ernst & Young LLP, Washington, DC; Marie Milnes- Vasquez, Senior Technical Reviewer, Branch 4, IRS, Washington, DC.

A Closer Look at the Unified Loss Rules. This panel will consider the Unified Loss Rules, examining gaps in the regulations and questions left unanswered by the regulations. Moderator: Professor Don Leatherman, University of Tennessee College of Law, Knoxville, TN. Panelists: Theresa Abell, Counsel, Office of Associate Chief Counsel (Corporate), IRS, Washington, DC; Martin Huck, Ernst & Young LLP, Washington, DC; Jeffrey Vogel, KPMG LLP, Washington, DC.

Session : ABATX9154
Banking & Savings Institutions
Conference : 2009 Joint Fall CLE Meeting
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$45.00

Chair: Roburt Waldow, McDermott Will & Emery LLP, Menlo Park, CA

Practical Applications and Open Questions under the TARP Interim Final Rules for Compensation and Corporate Governance. This panel will discuss the issues Department of Treasury and the affected banks are wrestling with as they try to implement a complicated regulatory scheme. Moderator: Debra Koenig, Godfrey & Kahn SC, Milwaukee, WI. Panelists: Stephen Tackney, Senior Counsel, Office of Executive Compensation, Department of Treasury, Washington, DC; Jeremy Goldstein, Wachtell Lipton Rosen & Katz, New York, NY.

High Yield Debt and Cancellation of Debt: Seismic Changes. This panel will discuss the regulatory and legislative changes to the rules governing high yield debt and cancellation of debt and how they impact the banking and corporate world. Moderator: Viva Hammer, Crowell & Moring LLP, Washington DC. Panelists: TBD.

States Revisit Taxation and Apportionment of Income of Banks and Other Financial Institutions: Opportunities and Threats in an Evolving Legal Landscape. This panel will discuss recent legislative, regulatory and judicial activity affecting the taxation and apportionment of income of banks and other financial institutions. Moderator: Art Rosen, McDermott Will & Emery LLP, New York, NY. Panelists: Fred Ackerson, McDermott Will & Emery LLP, Chicago, IL; Roy Crawford, McDermott Will & Emery LLP, Menlo Park, CA; Paul Caselton, Deputy General Counsel�Income Tax, Illinois Department of Revenue, IL; Carl Joseph, Bureau Director, Multistate Tax Bureau, California Franchise Tax Board, CA.

Session : ABATX9155
Closely Held Businesses and Business Planning Group
Conference : 2009 Joint Fall CLE Meeting
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$45.00

Closely Held Businesses Chair: Gregory R. Wilson, Gregory R. Wilson Attorney-at- Law, San Francisco, CA

Business Planning Group Chair: William S. Forsberg, Leonard Street & Deinard, Minneapolis, MN

The Use of Charitable Lead Trusts with Closely-Held Businesses. Moderator: William S. Forsberg, Leonard Street & Deinard, Minneapolis, MN. Panelists: Douglas W. Stein, Smith Gambrell & Russell LLP, Atlanta, GA; William S. Forsberg, Leonard Street & Deinard, Minneapolis, MN.

Section 754�Making the Election or Not. Moderator: James D. Spratt, Jr., The Bowden Spratt Law Firm, Atlanta, GA. Panelists: Lisa M. Rico, McCarter & English LLP, Boston, MA; Doug Stein, Smith Gambrell & Russell LLP, Atlanta, GA; James D. Spratt, Jr., The Bowden Spratt Law Firm, Atlanta, GA.

Survey of Tax Developments of Importance to Closely-Held Businesses. Moderator: David Naples, Leonard Street & Deinard, Minneapolis, MN. Panelists: Tye J. Klooster, Katten Muchin Rosenman LLP, Chicago, IL; Lisa M. Rico, McCarter & English LLP, Boston, MA; David Naples, Leonard Street and Deinard, Minneapolis, MN.

Session : ABATX9156
Income & Transfer Tax Planning Group (RPTE) and Estate & Gift Taxes (TX)
Conference : 2009 Joint Fall CLE Meeting
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$45.00

Income & Transfer Tax Planning Group Chair: Julie K. Kwon, Stanford University, Stanford, CA

Estate & Gift Taxes Chair: Martin Hall, Ropes & Gray LLP, Boston, MA

Current Developments. This panel will review developments in federal estate, gift and generation-skipping transfer tax laws from May 1, 2009 through August 31, 2009. Panelists: Benjamin G. Carter, Winstead PC, Dallas, TX; Stacey Delich-Gould, Sullivan & Cromwell LLP, New York, NY; Catherine V. Hughes, Office of Tax Policy, Department of Treasury, Washington, DC.

Practical Guide to Private Aircraft for Private Clients. Practical and technical guidance from practitioners experienced in counseling clients with respect to the acquisition of whole and fractional ownership and leasehold interests in aircraft, the financing of those acquisitions and the management and regulatory issues associated with private ownership of aircraft, including the unwinding of lease and financing agreements when aircraft ownership was no longer desirable. Panelists: David P. DeYoe, McDermott Will & Emery LLP, Chicago, IL; Richard A. Lang, McDermott Will & Emery LLP, Chicago, IL; Thomas P. Ward, McDermott Will & Emery LLP, Chicago, IL.

Estate and Gift Tax Controversies - Next Stop, The Tax Court. A discussion of taking estate and gift tax controversies to the US Tax Court, with a focus on valuation issues, establishing a bona fide sale to a defective grantor trust, effective use of experts and the use of the estate planning lawyer as a witness. Panelist: John P. Barrie, Bryan Cave LLP, Washington, DC.

Valuation, Estate and Income Tax Planning for S Corporations. Special planning ideas for S corporations including: voting/nonvoting recaps to enable equity freezes while retaining control, planning for Chenoweth if the voting stock passes to a child and the nonvoting stock passes to a marital trust, harvesting capital and passive losses despite related party limitations, dealing with no inside step-up in basis, application of IRC 1239 to liquidation of depreciable property, whether valuation discounts are available for tax attributes of an S corp, avoiding the 10-year built-in gains tax on sale of assets, evaluating QSST and ESBT status and other special issues related to holding S corporations in estates an trusts. Moderator: Richard S. Franklin, Pillsbury Winthrop Shaw Pittman LLP, McLean, VA. Panelists: Carol A. Cantrell, Briggs & Veselka Co, Houston, TX; Lester B. Law, Bank of America Private Wealth Management, Naples, FL; Hugh H. Woodside, Empire Valuation Consultants LLC, Rochester, NY.

Session : ABATX9157
Individual & Family Taxation
Conference : 2009 Joint Fall CLE Meeting
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$30.00

Chair: Megan L. Brackney, Kostelanetz & Fink LLP, New York, NY

Fa�ade Easements: Historic Preservation or Tax Shelters? This panel will discuss the requirements for claiming charitable deductions for donations of fa�ade easements, provide an update on the current litigation in this area and consider the some policy issues. Moderator: H. Stow Lovejoy, Kostelanetz & Fink LLP, New York, NY. Panelists: Alexandra E. Nicholaides, Office of Chief Counsel, IRS, Washington, DC; Denis Conlon, Martin Brown & Sullivan Ltd, Chicago, IL; Paul Edmonson, National Trust for Historic Preservation, Washington, DC.

Tax Policies of President Obama. The panel will discuss President Obama�s tax proposals including budgetary implications for proposals to raise revenue as well as initiatives to provide tax relief. Moderator: Professor Christopher M. Pietruszkiewicz, LSU Law Center, Baton Rouge, LA . Panelists: Joshua Odintz, Acting Tax Legislative Counsel, Department of Treasury, Washington, DC; Joseph W. Nega, Senior Legislation Counsel, Joint Committee on Taxation, Washington, DC; Roberton Williams, Tax Policy Center, Washington, DC.

Session : ABATX9158
Investment Management
Conference : 2009 Joint Fall CLE Meeting
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$30.00

Chair: Joseph A. Riley, Willkie Farr & Gallagher LLP, New York, NY

Mutual Funds and Financial Instruments Tax Update. Moderator: Shawn K. Baker, PricewaterhouseCoopers LLP, Boston, MA. Panelists: Keith Lawson, Investment Company Institute, Washington, DC; Steven M. Rosenthal, Ropes & Gray LLP, Washington, DC.

Foreign Financial Account Reporting Developments. Moderator: William P. Zimmerman, Morgan Lewis & Bockius LLP, Philadelphia, PA. Panelists: Mark E. Matthews, Morgan Lewis & Bockius LLP, Washington, DC; David R. Sicular, Paul Weiss Rifkind Wharton & Garrison LLP, New York, NY.

Tax Issues with Respect to Redemptions and Transfers of Partnership Interests. Moderator: Andrew W. Needham, Cravath Swaine & Moore LLP, New York, NY. Panelists: Jill E. Darrow, Katten Muchin Rosenman LLP, New York, NY; Dominique Padilla Gallego, Schulte Roth & Zabel LLP, New York, NY; Jefferey Van Hove, Deputy Tax Legislative Counsel (Tax Regulation), Office of Tax Policy, Department of Treasury, Washington, DC.

Session : ABATX9159
Real Estate
Conference : 2009 Joint Fall CLE Meeting
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$45.00

Chair: Jim Sowell, KPMG LLP, Washington, DC

Hot Topics in Real Estate. This panel will address a variety of hot topics including legislative, regulatory, administrative and case law developments impacting real estate taxation. Moderator: L. Wayne Pressgrove, Jr., King & Spalding, Atlanta, GA. Panelists: Steven G. Frost, Senior Counsel, Office of Tax Policy, Department of Treasury, Washington, DC; Lana A. Kalickstein, Roberts & Holland LLP, New York, NY.

Bringing Underwater Debt to the Surface (Novel but not Uncommon Creditor Issues). This panel will examine the tax implications of distressed debt restructuring transactions, particularly transactions that provide equity-like features for lenders or provide for deep subordination of junior lenders. This panel will also explore the tax considerations associated with distressed debt held or purchased by a REIT, and dealing with/unwinding Bramblett structures. Moderator: David A. Miller, Ernst & Young LLP, Dallas, TX. Panelists: A. Cristina Arumi, Hogan & Hartson LLP, Washington, DC; David H. Schnabel, Debevoise & Plimpton LLP, New York, NY.

Setting a Place for Foreign Investors at the Domestic Table. The domestic real estate market has become increasingly dependent on attracting capital from non-US sources. This panel will focus on tax efficient structures for foreign investors to invest in US real estate transactions. Moderator: Peter J. Genz, King & Spalding LLP, Atlanta, GA. Panelist: Michael Hirschfeld, Dechert LLP, New York, NY.

Qualified Real Property Business Indebtedness � Current Financing Issues. The �qualified real property business indebtedness� exclusion from cancellation of indebtedness income has not kept pace with modern financing structures. In particular, structurally subordinated financing structures raise questions about whether the debt at issue is �secured by real property.� This panel will provide an up-to-date review of this and other issues raised by this exclusion. Moderator: Todd F. Maynes, Kirkland & Ellis LLP, Chicago, IL. Panelist: Richard Blumenreich, KPMG LLP, Washington, DC.

Seller Financing � Closing the Deal Without a Bank Loan. The current economic environment has resulted in a credit market that is both costly and difficult to navigate. As a result, parties to real estate transactions are looking to alternative methods for financing their transactions. This panel will explore the use of installment sales and other alternatives to traditional bank debt financing. Moderator: Blake D. Rubin, McDermott Will & Emery LLP, Washington, DC. Panelist: Thomas C. Lenz, RSM McGladrey, Chicago, IL.

Session : ABATX9160
S Corporations
Conference : 2009 Joint Fall CLE Meeting
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$45.00

Chair: Thomas J. Nichols, Meissner Tierney Fisher & Nichols SC, Milwaukee, WI

Important Developments. Discussion of recent legislative, administrative and judicial developments relating to S Corporations and their Shareholders. Moderators: Dana Lasley, Deloitte Tax LLP, St. Louis, MO; John B. Truskowski, Locke Lord Bissell & Liddell LLP, Chicago, IL.

Back-to-Back Loans. This panel will discuss recent developments concerning the creation of shareholder debt basis through back-to-back loan arrangements. Moderator: Ronald Levitt, Sirote & Permutt PC, Birmingham, AL. Panelists: Stephen R. Looney, Dean Mead Egerton Bloodworth Capouano & Bozarth PA, Orlando, FL; Christine E. Ellison, Branch Chief, Branch 3, IRS, Washington, DC.

Restructuring Debt of an S Corporation. Discussion of issues to consider when reorganizing or restructuring the debt of an S corporation in financial distress, in or out of bankruptcy. Moderator: Laura Howell-Smith, Deloitte Tax LLP, Washington, DC. Panelists: Lee Zimet, Deloitte Tax LLP, New York, NY; Wells Hall II, Mayer Brown LLP, Charlotte, NC; Jeanne E. Sullivan, KPMG LLP, Washington, DC.

Post-Closing Tax Covenants for S Corporation Acquisitions. A discussion of drafting, negotiating and implementing post-closing covenants in S corporation acquisition agreements, including post-closing return preparation, amended returns, conduct of tax proceedings and preservation of records and cooperation provisions. Moderator: John S. Harper, Morrison & Forrester LLP, McLean, VA. Panelists: Dana Lasley, Deloitte Tax LLP, St. Louis, MO; Thomas J. Phillips, Quarles & Brady LLP, Milwaukee, WI.