American Bar Association - Section of Taxation

Session : ABATX7160
Joint Section Breakfast/Plenary Session
TOPIC: Tackling the Tax Gap : What Will That Mean to Your Practice?
Conference : 2007 Joint Fall CLE Meeting

File Size : 7.7 MB

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$15.00

Moderator : Pamela F. Olson, Skadden Arps Slate Meagher & Flom LLP, Washington, DC

Panelists: Eric Solomon, Assistant Secretary (Tax Policy), Department of Treasury, Washington, DC; Lawrence B. Gibbs, Miller & Chevalier Chartered, Washington, DC

Sponsored by: Blakes, Cassels & Graydon LLP

Session : ABATX7165
Administrative Practice
Conference : 2007 Joint Fall CLE Meeting

File Size : 30.7 MB

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$45.00

Important Developments. This panel will discuss important developments in administrative practice which have occurred since the last meeting. Moderator : Kevin Johnson, Chamberlain Hrdlicka, White Williams & Martin, Philadelphia, PA. Panelists: Deborah A. Butler, Associate Chief Counsel (Procedure and Administration), IRS, Washington, DC; Rochelle Hodes, PricewaterhouseCoopers LLP, Washington, DC.

Foreign Bank Account Reporting (FBAR): What You Should Know and Why You Should Care. This panel will discuss issues related to the FBAR filing requirement and enforcement as well as how information on the FBAR is used by the government. Moderator: Kevin Packman, Holland & Knight LLP, Miami, FL. Panelists: Samuel Berman, Special Counsel to SB/SE Division Counsel, IRS, Washington, DC; Mae J. Lew, Special Counsel, Office of Associate Chief Counsel (International) IRS, Washington DC, John C. McDougal, Special Trial Attorney (SB/SE), IRS, Richmond, VA; Steven Toscher, Hochman Salkin Rettig Toscher & Perez PC, Beverly Hills, CA.

Industry Issue Focus: A Preliminary Report Card on LMSBs Newest Initiative. This panel will discuss the impact of the LMSBs new tiering initiative on taxpayers under exam and in appeals. Moderator: James G. Hartford, Thompson Hine LLP, Washington, DC. Panelists: Sarah H. Ingram, Chief of Appeals, IRS, Washington, DC; Christopher Sterner, LMSB Division Counsel, IRS, Washington, DC; Frank Ng, Deputy Commissioner (International), LMSB, IRS, Washington, DC; Henry Singleton, Ernst & Young LLP, Philadelphia, PA; Gary Wilcox, Morgan Lewis & Bockius LLP, Washington, DC.

A Forum on the Tax Sections Recent Survey on the Independence of the IRS Office of Appeals. This panel will discuss the findings of the Tax Sections survey concerning the independence of the IRS Appeals function. Moderator : Thomas J. Callahan, Thompson Hine LLP, Cleveland, OH.; Panelists : Sarah H. Ingram, Chief of Appeals, IRS, Washington, DC; Vincent S. Canciello, Ernst & Young LLP, Washington, DC; Phillip Pillar, Reed Smith LLP, Philadelphia, PA.

Session : ABATX7166
Banking and Savings Institutions
Conference : 2007 Joint Fall CLE Meeting

File Size : 30.5 MB

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$45.00

Update on Financial Products in the Marketplace. The panel will discuss hot financial products that are currently in the market, and how the economic substance and business purpose doctrines may apply to such products. The discussion will include the tax, business and accounting aspects of several products, including call spreads, contingent convertible debt instruments and variable prepaid forward contracts. Moderator : Matthew Stevens, Alston & Bird LLP, Washington, DC. Panelists : Phoebe Mix, Special Counsel to the Associate Chief Counsel, IRS, Washington, DC; E. Ray Beeman, Venable LLP, Washington, DC.

Update on State & Local Tax Developments. The panel will provide an update on state tax developments of interest to financial institutions. The panel will also discuss a new uniformity project undertaken by the Multistate Tax Commission that is focused on revisiting and revising the apportionment regulations applicable to financial institutions. Finally, two recent cases, Lanco, Inc. v. Director, Division of Taxation (NJ) and FIA Card Services, N.A., fka MBNA America Bank, N.A., v. Tax Commissioner of W. Va. (W. Va.) hold a state has jurisdiction to impose taxes other than sales/use taxes on businesses that have economic, but not physical, presence in that state. These cases are in direct conflict with J.C. Penney National Bank v. Johnson (TN), which held that the physical presence Commerce Clause jurisdictional standard announced in Quill Corp. v. North Dakota is not limited to sales/use taxes. There being a split in authority among the states, both Lanco and FIA filed petitions for certiorari to the US Supreme Court, but both petitions were denied. This panel will discuss the economic presence standard, as adopted by various states, and will explore the impact of such standard on banks and savings institutions in light of the refusal by the US Supreme Court to grant certiorari in Lanco and FIA. Moderator : Roburt J. Waldow, Heller Ehrman LLP, Menlo Park, CA.Panelists : Benjamin Miller, Director, Multistate Tax Bureau, California Franchise Tax Board, Rancho Cordova, CA; Roy E. Crawford, Heller Ehrman LLP, San Francisco, CA; Richard W. Bell, Baker Donelson, Atlanta, GA.

Impact of the New US-Canada Protocol and Other Legislative Fall-Out on Cross-Border Financing Transactions. The panel will discuss the new provisions of the US-Canada Protocol and other legislative proposals in Canada and the US both announced and likely in the panelists views in the context of what have been considered to be standardized inbound and outbound financing transactions across the Canada-US border. Included in the discussions will be likely changes to interest deductions in Canada, possible rethinking of the application of the thin cap rules which may impact both third party and intercompany financing arrangements and potential US changes to consequential on the treaty withholding exemptions on interest. Moderator : Elinore Richardson, Borden Ladner Gervais LLP, Toronto, ON. Panelists : Paul D. Carman, Chapman and Cutler LLP, Chicago, IL; Tariq Afghan, BMO Financial Group, Chicago, IL.

Session : ABATX7167
Closely Held Businesses (Tax) and Business Planning Group (TE)
Conference : 2007 Joint Fall CLE Meeting

File Size : 29.1 MB

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$45.00

Business Planning Group Chair: James D. Spratt, Jr., King & Spalding LLP, Atlanta, GA

Effective Use of Different Entities and Capital Structures. Panelists : Stephanie B. Casteel, King & Spalding LLP, Atlanta, GA; Hugh F. Drake, Brown Hay & Stephens LLP, Springfield, IL; James R. Robinson, Arnall Golden Gregory LLP, Atlanta, GA.

Planning with Irrevocable Trusts and Related Fiduciary Income Tax Issues. Panelists: Bonnie Richards, Lehman Brothers Inc., New York, NY; James D. Spratt, Jr., King & Spalding LLP, Atlanta, GA.

Watch Out for State LawChoice of Entity and Trust Situs Issues. Panelists: Bruce H. Gordon, Shumaker Loop & Kendrick LLP, Tampa, FL; Benjamin H. Pruett, Bessemer Trust, Washington, DC.

Session : ABATX7168
Corporate Tax
Conference : 2007 Joint Fall CLE Meeting

File Size : 32.4 MB

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$45.00

US-Canada Cross-Border M&A (Sponsors and Strategics) and Other Select Cross-Border M&A Issues. This panel will discuss all that you need to know about US-Canada M&A, along with select other M&A issues. Moderator: Philip Tretiak, Merrill Lynch & Co, New York, NY. Panelists: William D. Alexander, Associate Chief Counsel (Corporate), IRS, Washington, DC; Peter Blessing, Shearman & Sterling LLP, New York, NY; Robert A. Kopstein, Borden Ladner Gervais LLP, Vancouver, BC; Philip West, Steptoe & Johnson LLP, Washington, DC.

Satisfying the Active Business Requirement in a Spin-OffPart II. This panel will discuss the recent evolution of the active trade or business requirement of section 355(b) with particular emphasis on the newly proposed active trade or business regulations and their implications, both short and long-term. Moderator: Wayne T. Murray, Deloitte Tax LLP, Washington, DC. Panelists: Marc A. Countryman, Attorney-Advisor, Tax Legislative Counsel Department of Treasury, Washington, DC; Stephen P. Fattman, Special Counsel to the Associate Chief Counsel (Corporate), IRS, Washington, DC; Rose Williams, Ernst & Young LLP, Washington, DC.

Section 382 and Other Loss Limitation RulesPart I. The panel will explore current issues and trends in the application of section 382 and related rules. The second part of the panel will take place in the Affiliated and Related Corporations Committee meeting later in the day. Moderator: Victor Penico, Deloitte Tax LLP, San Francisco, CA. Panelists: Mark Schneider, Deputy Associate Chief Counsel (Corporate), IRS, Washington, DC; Karen Gilbreath Sowell, Deputy Assistant Secretary (Tax Policy), Department of Treasury, Washington, DC; Mark Hoffenberg, KPMG LLP, Washington, DC; Jerry Mason, Ernst & Young LLP, Washington, DC.

Session : ABATX7169
Estate and Gift Taxes (Tax) and Income & Transfer Tax Planning Group (TE)
Conference : 2007 Joint Fall CLE Meeting

File Size : 31.8 MB

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$45.00

Income & Transfer Tax Planning Group Chair: Susan Porter, US Trust Company NA, New York, NY

Current Developments. This panel will discuss recent developments in estate and gift tax planning and administration. Panelists: Benjamin Carter, Winstead PC, Dallas, TX; Stacey Delich-Gould, Sullivan and Cromwell LLP, New York, NY; Catherine V. Hughes, Attorney- Advisor, Office of Tax Policy, Department of Treasury, Washington, DC.

Recent Developments in Domestic and International Asset Protection Planning. In a litigious and confrontational society, clients are always asking professionals to advise them on ways to reduce their exposure to unforeseen liabilities. The pendulum continues to swing between protecting the interests of creditors on one end and protecting debtors on the other. In advising clients, it is important to understand the developments at the state, federal and international level in this ever-fluid area of the law. Speaker: Amy P. Jetel, Giordani Schurig Beckett & Tackett LLP, Austin, TX.

What Every Estate Planner Needs to Know About the 409A Final Regulations. The long awaited final 409A regulations have been issued to be effective January 1, 2008. Failure to comply could lead to immediate taxation and a 20% penalty tax. This program will focus on the impact of the final regulations and what needs to be done under the transition rules by December 31, 2007. Aimed at small businesses owners and executives of public companies, topics will include definition of deferred compensation, plan aggregation rules, the short term deferral exception, the initial deferral and redeferral rules, grandfathering and many more subjects. Speaker: Donald O. Jansen, The University of Texas System, Austin, TX.

Decanting Trusts. A growing number of states have enacted legislation authorizing trustees to appoint trust assets to another trust. This panel will review the framework of the decanting statutes and discuss the state and federal transfer and income tax consequences of decanting trust assets to another trust. Panelists: Diana S. C. Zeydel, Greenberg Traurig PA, Miami, FL; Jonathan G. Blattmacher, Milbank Tweed Hadley & McCloy LLP, New York, NY; Susan Porter, US Trust Company, New York, NY.

Session : ABATX7174
Exempt Organizations AM
Conference : 2007 Joint Fall CLE Meeting

File Size : 39.1 MB

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$45.00

News from the IRS and Department of Treasury. Representatives from the TE/GE Division of IRS and from the Department of Treasury will speak on recent developments and pending guidance. Moderator : Suzanne Ross McDowell, Steptoe & Johnson LLP, Washington, DC. Panelists: Robert S. Choi, Director (Rulings and Agreements), IRS, Washington, DC; Michael Blumenfeld, Senior Technician Reviewer, Office of Chief Counsel, Tax Exempt & Government Entities, IRS, Washington, DC; Eric A. San Juan, Deputy Tax Legislative Counsel (Tax Legislation), Office of Tax Policy, Department of Treasury, Washington, DC.

The New Form 990. A panel discussion of the new IRS draft form 990, highlighting changes from the current form 990, summarizing comments on the draft filed by the Exempt Organizations Committee and others and analyzing what is most likely to change when the final form is released. Moderator : Eve Borenstein, Borenstein and McVeigh Law Office LLC, Minneapolis, MN. Panelists: Ronald J. Schultz, Senior Technical Advisor to the Commissioner, Tax-Exempt/Government Entities, IRS, Washington, DC; Thomas Chomicz, Quarles & Brady LLP, Chicago, IL; Ralph DeJong, McDermott Will & Emery LLP, Chicago, IL; Rosemary Fei, Silk Adler & Colvin, San Francisco, CA.

Supporting Organization Issues. This panel will discuss current guidance and remaining issues to be addressed with respect to section 509(a)(3) supporting organizations. Moderator : Boyd J. Black, The Church of Jesus Christ of Latter-day Saints, Salt Lake City, UT. Panelists: Michael Blumenfeld, Senior Technician Reviewer, Office of Chief Counsel, Tax Exempt & Government Entities, IRS, Washington, DC; Robert Fontenrose, Senior Tax Law Specialist, Exempt Organizations, IRS, Washington, DC; Robert A. Boisture, Caplin & Drysdale Chartered, Washington, DC; Adelbert L. Spitzer, Ropes & Gray LLP, Boston, MA; LaVerne Woods, Davis Wright Tremaine LLP, Seattle, WA.

Hot Healthcare Issues. This panel will address developments with respect to standards for community benefit for healthcare institutions, the portions of the new form 990 relating to healthcare organizations and other healthcare developments. Moderator : Christopher M. Jedrey, McDermott Will & Emery LLP, Boston, MA. Panelists: Ronald J. Schultz, Senior Technical Advisor to the Commissioner, Tax Exempt/Government Entities, IRS, Washington, DC; Travis L. Blais, Mintz Levin Cohn Ferris Glovsky and Popeo PC, Boston, MA; Kendi E. Ozmon, Ropes & Gray LLP, Boston, MA; T.J. Sullivan, Drinker Biddle & Reath LLP, Washington, DC.

Session : ABATX7162
Leasing Group
Conference : 2007 Joint Fall CLE Meeting

File Size : 18.4 MB

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$30.00

What Every Leasing Attorney Needs to Know About Insurance. This program will focus on the basics of property and casualty insurance as applied to real estate leases, how to draft insurance and related lease clauses, the pitfalls if clauses are not properly drafted (including related litigation issues) and the relationship of these clauses to other lease provisions such as repair and maintenance, casualty loss, restoration, indemnity, compliance with laws and waiver, release and subrogation.

Panelists: Herbert H. Feldman, Alpha Risk Management Inc, Great Neck, NY; Jack Fersko, Farer Fersko PA, Westfield, NJ; Scott B. Osborne, Preston Gates & Ellis LLP, Seattle, WA; Angelia D. Wesch, Eisenhower & Carlson PLLC, Tacoma, WA.

Session : ABATX7164
Litigation, Ethics and Malpractice Group
Conference : 2007 Joint Fall CLE Meeting

File Size : 18.4 MB

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$30.00

Myths and Empirical Evidence About Investing. Many of the fundamental theories underlying MPT are unsupported and contradicted by studies and empirical evidence. When you or your client is sued for failing to passively invest in the S&P 500, dust this article off. Panelist : Dominic J. Campisi, Evans Latham & Campisi PC, San Francisco, CA.

Trust Investment Alternatives. Recent research has developed a number of investment strategies and vehicles that maximize gains and minimize risks using techniques developed in econometric and behavioral studies. Panelist: William Norris, JP Morgan Private Bank, Chicago, IL.

Total Return Strategies. Total return strategies for preserving long-term value of a trust portfolio require determination of the risk and return requirements of the trust and its respective beneficiaries. Panelist: Robert B. Wolf, Tener Van Kirk Wolf & Moore PC, Pittsburgh, PA.

Session : ABATX7170
Partnerships & LLCs
Conference : 2007 Joint Fall CLE Meeting

File Size : 30.9 MB

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$45.00

Structuring Infrastructure Transactions: When Does a Partnership Make Sense? Private sector investment in infrastructure, such as toll roads, seaports and airports is on the rise. As the market for infrastructure investment continues to evolve, so too does the determination of optimal financing and ownership structures. The panel will provide background on the economic factors motivating infrastructure transactions, explore the advantages and disadvantages of using a partnership, and discuss various structuring issues. Moderator: Susan Mello, Prudential Real Estate Investors, Parsippany, NJ. Panelists: Linda Carlisle, White & Case LLP, Washington, DC; Jonathan Ackerman, UBS Investment Bank, New York, NY; Mark de Medici, Babcock & Brown Canada ULC, Vancouver, BC.

Cross-Border Partnerships & LLCs. Partnerships and LLCs take on an entirely new level of complexity when crossing international borders. This panel will discuss the unique issues that arise in this context and recent guidance in this area. Moderator: Michael Hirschfeld, Dechert LLP, New York, NY. Panelists: Michael DiFronzo, Deputy Associate Chief Counsel (International), IRS, Washington, DC; Peter Botz, Lang Michener LLP, Vancouver, BC; David Forst, Fenwick & West LLP, Mountain View, CA.

Hot Topics in Partnerships. This panel will discuss recent developments affecting partnerships, including legislation, legislative proposals, regulations, administrative guidance, and noteworthy cases. Moderator: Sanford Presant, DLA Piper LLP, Los Angeles, CA. Panelists: Eric Solomon, Assistant Secretary (Tax Policy), Department of Treasury, Washington, DC; Matthew Lay, Deloitte Tax LLP, Washington, DC.