68th Virginia Conference on Federal Taxation

MCLE Credits: 13.5
Ethics Credits Included: 2.0; CPE: 16.0 (including 2.0 CPE Ethics)

Live on Site: Thursday, June 2 - Friday, June 3 / Charlottesville
Registration: 8:00 a.m.
Program: 8:50 a.m. (Thursday) - 4:30 p.m. (Friday).
MCLE Credit: 13.5 (Ethics: 2.0) CPE: 16.0 (including 2.0 CPE Ethics)
Live-Interactive Credit: 13.5 Live Interactive MCLE Credit Symbol

Information

Why Attend?

Be a better practitioner: more efficient, competent, and knowledgeable.

  • Change your practice to account for new cases, legislation, and regulations
  • Utilize new planning techniques
  • Create strategies to assist with burdens faced by individuals and businesses

Virginia’s Premier Tax Conference for Attorneys and Accountants Sponsored by The University of Virginia Tax Foundation Cooperating Organizations: VSCPA, VBA, VSB, UVa McIntire School of Commerce, UVa School of Law

Some of the nation’s leading authorities in the area of taxation law and practice provide valuable tax-planning and tax-saving strategies developed for individuals, corporations, pass-through entities, estates, gifts, and trusts.

2016 CONFERENCE HIGHLIGHTS

  • Federal, Virginia, and Local Tax Developments
  • Mergers and Acquisitions Involving S Corporations
  • What Every Tax Professional Needs to Know About the IRS and the Virginia Department of Taxation
  • Transfer Tax Issues for the Non-U.S. Citizen
  • Philanthropic Planning: Making Charitable Gifts with Non-Liquid Assets and Defending Them When the Audit Letter Arrives
  • Civil and Criminal Employment Tax Enforcement
  • Dealing with Atypical Investments in IRAs and Qualified Plans
  • Choice of Entity for the Closely Held Business
  • Beyond Like-Kind Exchanges: Creative Deal Structures
  • The New Estate Planning Landscape
  • CPE and CLE Ethics

Accreditation: In addition to Virginia MCLE (see top of page), The University of Virginia Tax Foundation is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. www.nasba.org.

 

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Schedule

COURSE SCHEDULE

The two-day Conference begins Thursday morning, June 2, at 8:50 a.m., adjourns at 4:30 p.m. on Friday, June 3, and is held in the Caplin Auditorium at the University of Virginia Law School.

Thursday, June 2, 2016
Registration begins at 8:00 a.m.

Morning Session (8:50 a.m. – 12:00 noon)

8:00 Registration
8:50 Introductory Remarks
8:55 Latest Federal Tax Developments
Walter H. Nunnallee, Law Professor, North Carolina Central University (Retired) / Orlando, FL

Professor Nunnallee will highlight the latest federal tax legislation, cases, rulings, and regulations having the greatest impact on individuals and domestic businesses.
10:40 Break
10:55 Latest Federal Tax Developments (continued)
Walter H. Nunnallee, Law Professor, North Carolina Central University (Retired) / Orlando, FL
12:00 Lunch (included with program)

Afternoon Session (1:00 p.m. – 5:15 p.m.)

1:00 Concurrent Sessions
  1. Legislative, Administrative, and Judicial Developments in Virginia and Across the Nation
    William L.S. Rowe, Hunton & Williams / Richmond
    Jeremy Sharp, Deloitte Tax LLP / Washington, DC

    The latest on recently enacted and pending state tax legislation, in Virginia and beyond. The discussion will also address the underlying legislative trends that are rapidly transforming state tax around the nation, as well as select state tax administrative and judicial developments.

  2. S Corporation Practice Matters, Mergers and Acquisitions, and What’s New?
    Samuel P. Starr, Bloomberg BNA / Falls Church

    A broad range of S corporation topics will be discussed, with practical advice shared.  The shareholder basis rules, shareholder’s exposure to employment taxes, and deemed asset acquisitions under IRC §§ 338(h)(10) and 336(e) will be highlighted.  Other topics include S corporation use of partnerships, BIG tax valuations, AA account and terminations, and material participation by S corporation trust shareholders.  With tax reform coming, and other tax law changes already in place, is now the time to re-think the S corporation election?

  3. The IRS and the Virginia Department of Taxation — What Every Tax Professional Needs to Know
    Robert G. Nath, Robert G. Nath, PLLC / McLean

    Sooner or later, almost every Virginia lawyer has clients who run into, and up against, the IRS or the Virginia Department of Taxation. This presentation will give you basic concepts and practical, issue-driven techniques for successfully dealing with both. 

3:00 Break
3:15 Concurrent Sessions
  1. An Overview of the Transfer Tax Rules, Issues, and Planning Considerations for the Non-U.S. Citizen
    Leigh-Alexandra Basha, McDermott Will & Emery / Washington, DC

    The transfer tax rules for non-U.S. citizens greatly differ from those for U.S. citizens. However, these rules offer unique planning opportunities different from those for U.S. citizens. This presentation will provide an overview of the relevant rules and offer some planning tips that one should consider when advising non-U.S. citizen clients.

  2. Philanthropic Planning: Making Charitable Gifts with Non-Liquid Assets and Defending Them When the Audit Letter Arrives
    Donald M. Etheridge, Jr., National Christian Foundation / Alpharetta, GA

    The use of non-liquid assets in charitable giving, ranging from real estate to closely held business interests, has recently gained more attention among donors, advisors as well as charities.  The materials/presentation will explore what opportunities are available for making charitable gifts with non-liquid assets, how to plan and structure such gifts, and how to be prepared to successfully defend such gifts in the event of an audit.

5:15 Adjourn and Cocktail Party

Friday, June 3, 2016

Morning Session (8:45 a.m. - 12:15 noon)

8:45 Civil and Criminal Employment Tax Enforcement
Caroline Ciraolo, Acting Assistant Attorney General, Tax Division / Washington, DC

Employers are obligated to collect, account for, and deposit employment taxes.  Employment tax and income tax withholdings constitute approximately 70% of annual revenue collected by the IRS, and $59 billion of amounts reflected on Forms 941 remained unpaid as of September 2015.  The Department of Justice and the IRS list civil and criminal employment tax enforcement among its top priorities. Acting Assistant Attorney General Ciraolo will address the Department’s efforts of this area, including civil injunctions and recent prosecutions.
9:45 Dealing with Atypical Investments in IRAs and Qualified Plans: What You Need to Know
Pamela D. Perdue, Summers Compton Wells, LLC / St. Louis, MO


What happens when a client wants to buy a business through an IRA? How do you determine if a client can invest in an investment both through his retirement plan and through his company? This presentation will address the legal and practical issues and concerns that arise from investing in atypical investments through an IRA or qualified plan, including such investments as hedge funds, private equity, real estate, as well as an interest in a closely held business. What issues or areas of concern arise and what are the things that simply must not be done?

10:45 Break
11:00 Choice of Entity for the Closely Held Business
David M. Rievman, Skadden Arps / New York, NY
12:15 Lunch (included with program)

Afternoon Session (1:00 p.m. - 4:35 p.m.)

1:00 Concurrent Sessions:
  1. The Top Ten Ethics Issues That Get Tax Professionals in Trouble (MCLE Ethics)
    Christopher S. Rizek, Caplin & Drysdale / Washington, DC

    Tax professionals seem to face the same ethics and malpractice problems over and over. This presentation will help you to identify common issues, understand the applicable rules, and handle the issues effectively.


  2. CPE Ethics
    VSCPA Speaker: Jim Cole


  3. Beyond Like-Kind Exchanges: Creative Deal Structures
    Andrea M. Whiteway, McDermott Will & Emery LLP / Washington, DC

    As the market improves and transaction volume increases, so does the focus on creative deal structures.  For owners seeking to dispose of real estate, structuring the disposition in the most tax-efficient manner is of paramount importance. For acquirers of real estate, bringing a tax-advantaged deal structure to the table can be the secret weapon that clinches the deal in a competitive market. This presentation will be an up-to-the minute discussion including the use of leveraged partnerships and other creative deal structures.

3:00 Break
3:15 The New Estate Planning Landscape — Planning in 3D
Suzanne L. Shier, The Northern Trust Company, Chicago, IL

Estate planning is increasingly multi-dimensional. This session will examine the intersection of income taxation and transfer taxation, taxation across state and national borders, and taxation across generations in the post-ATRA 2012 pre-election 2016 landscape.

4:30 Adjourn

Faculty

PLANNING COMMITTEE

L. Michael Gracik, Jr., Co-Director, Keiter / Glen Allen
D. French Slaughter, III, Co-Director, Fox Rothschild LLP / Washington, DC
David M. Chase, Jr., Wall, Einhorn & Chernitzer, P.C. / Norfolk
Cecelia P. Horner, Hunton & Williams / Richmond
David M. Maloney, University of Virginia McIntire School of Commerce / Charlottesville
Lawrence J. Martin, Hantzmon Wiebel LLP / Charlottesville
Professor Susan L. Porter, University of Virginia McIntire School of Commerce / Charlottesville
Thomas P. Rohman, McGuireWoods LLP / Richmond
Bruce C. Stockburger, Gentry Locke Rakes & Moore / Roanoke
John L. Vincie, PBMares, LLP / Harrisonburg
Professor Ethan Yale, University of Virginia School of Law / Charlottesville
George K. Yin, University of Virginia School of Law / Charlottesville

FACULTY

Leigh-Alexandra Basha, McDermott Will & Emery / Washington, DC
Caroline Ciraolo, Acting Assistant Attorney General, Tax Division / Washington, DC
Donald M. Etheridge, Jr., National Christian Foundation / Alpharetta, GA
Robert G. Nath, Robert G. Nath, PLLC / McLean
Walter H. Nunnallee, Law Professor, North Carolina Central University (Retired) / Orlando, FL
Pamela D. Perdue, Summers Compton Wells, LLC / St. Louis, MO
David M. Rievman, Skadden Arps / New York, NY
Christopher S. Rizek, Caplin & Drysdale / Washington, DC
William L.S. Rowe, Hunton & Williams / Richmond
Jeremy Sharp, Deloitte Tax LLP / Washington, DC
Suzanne L. Shier, The Northern Trust Company / Chicago, IL
Samuel P. Starr, Bloomberg BNA / Falls Church
Andrea M. Whiteway, McDermott Will & Emery LLP / Washington, DC

EDITORS

R. Braxton Hill, III, Kaufman & Canoles / Norfolk
John W. Lee, III, Marshall-Wythe School of Law, College of William & Mary / Williamsburg

TRUSTEES EMERITUS

Mortimer M. Caplin, Caplin & Drysdale / Washington, DC
Richard E. Fogg, Free Union
Joseph E. Gibson, University of Virginia McIntire School of Commerce / Charlottesville
George C. Howell, III, Hunton & Williams LLP / Richmond
Thomas R. White, University of Virginia School of Law / Charlottesville

Locations, Dates and Fees

LIVE LOCATION AND DATES

Charlottesville / Thursday and Friday, June 2-3
University of Virginia School of Law (Venue Website / Google Map)
580 Massie Road
(434) 924-7354


LIVE REGISTRATION FEES (includes lunch both days, and Thursday night cocktail party)

$495.00 regular registration.
$525.00 late registration (after May 6, 2016).
$395.00 my firm has registered two full-price attendees prior to my registration.

REFUNDS

Refund of paid enrollment fees (minus a $100 processing fee) will be made if written notice of cancellation is received at least one week prior to start of the Conference.

If you have a disability that requires special accommodation, please contact Virginia CLE® well in advance of the program date.

Private recording of this program is prohibited.

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    Charlottesville, VA 22901

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