72nd Annual Virginia Conference on Federal Taxation 2021 (Day One) (Online Seminar)

MCLE Credits: 6.0
Ethics Credits Included: 1.0

MCLE Credit: 6.0 (Ethics: 1.0)
Live-Interactive Credit: 0.0
Price: $299 (Includes a downloadable audio version.)
Viewable Through: 6/30/2023

Information

A pre-recorded streaming VIDEO replay of day one from the two-day June 2021 webcast seminar, 72nd Annual Virginia Conference on Federal Taxation.


Virginia’s Premier Tax Conference for Attorneys and Accountants

Sponsored by The Virginia Tax Foundation

Hear some of the nation’s leading authorities in the area of taxation law and practice.

2021 CONFERENCE HIGHLIGHTS (DAY ONE)

  • Update on Tax Policy from Washington
  • Opportunity Zone Planning and Troubleshooting
  • Bitcoin and Cryptocurrency
  • PPP Loan Forgiveness: 2021/2022 Consequences of 2020 Decisions
  • Succession Planning in the Closely Held Business
  • Ethical Considerations in Representing Business Owners and Their Families Regarding Their Estate Plans and Related Matters
 
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Schedule

COURSE TOPICS

Thursday, June 3

Update on Tax Policy from Washington
Jeffrey Kummer, Deloitte Tax LLP / Washington, DC


A look at the potential for tax legislation this year including a review of key Biden Administration tax proposals that would impact businesses and individuals, the possible timing of proposed tax law changes, and the budgetary processes that can be expected to be considered.

Opportunity Zone Planning and Troubleshooting
Jenny H.  Connors, Williams Mullen / Richmond


This session will focus on general planning techniques and structures for opportunity zone projects.  In addition, the session will touch on alternative arrangements for common challenges facing opportunity zone investors and project sponsors.    

Bitcoin and Cryptocurrency
Michael A. Meisler, Ernst & Young LLP / New York, NY
Thomas M. Shea, Ernst & Young LLP/ San Francisco, CA


As the landscape continues to evolve, this session will cover some basics of cryptocurrency taxation, an overview of relevant guidance, and some of the latest industry hot topics.

PPP Loan Forgiveness: 2021/2022 Consequences of 2020 Decisions
Olga A. Loy, Winston & Strawn LLP / Chicago, IL
Todd G. Betor, Winston & Strawn LLP / Washington, DC


This presentation will discuss federal income tax implications of Paycheck Protection Program (PPP) loan forgiveness, with particular consideration given to the type of entity obtaining PPP loan forgiveness and the nuances in tax treatment that follow. In so doing, the presentation navigates through the PPP enacting language of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the IRS’s confounding position, and Congress’ response thereto in the Consolidated Appropriations Act (CAA). Included is a brief discussion of the requisite steps for a borrower to have their PPP loan forgiven and risk of Small Business Administration (SBA) audits.

Succession Planning in the Closely Held Business
Harold G. Martin, Jr., Keiter / Glen Allen
Asif Charania, Keiter / Glen Allen


Over the next 10-15 years, during the maturing of the post WWII and “Baby Boomer” generations, it is estimated that over 500,000 private U.S. businesses will exchange hands each year.  This will result in an increase for exit planning advisory services over this period.  This session will discuss the impact of current economic, industry, political, and market conditions on the value of closely held businesses.  We will also discuss alternative exit planning strategies for owners and the related valuation issues that should be considered, including:  buy/sell agreements, estate and gift taxes, charitable contributions, sales to management, sales to a third party, mergers and acquisitions, and ESOPs.

Ethical Considerations in Representing Business Owners and Their Families Regarding Their Estate Plans and Related Matters
J. Lee E. Osborne, Woods Rogers, PLC / Roanoke


This presentation will discuss some of the ethical issues that can arise in the context of representing business owners and their families in their estate and succession planning, including initial considerations when undertaking the engagement of a business owner and the potential conflicts and confidentiality issues when that engagement expands to include other family members.  Using hypotheticals, the speaker will explore ethical concerns regarding the role of the attorney as the advisor for the primary owner, the business, and successor generations, as well as the attorney’s role as a fiduciary for one or more of these clients, and how some of these concerns can be anticipated and addressed through the engagement letter with the client.

Faculty

FACULTY

Todd G. Betor, Winston & Strawn LLP / Washington, DC
Asif Charania, Keiter / Glen Allen
Jenny H.  Connors, Williams Mullen / Richmond
Jeffrey Kummer, Deloitte Tax LLP / Washington, DC
Olga A. Loy, Winston & Strawn LLP / Chicago, IL
Harold G. Martin, Jr., Keiter / Glen Allen
Michael A. Meisler, Ernst & Young LLP / New York, NY
J. Lee E. Osborne, Woods Rogers, PLC / Roanoke
Thomas M. Shea, Ernst & Young LLP / San Francisco, CA

PLANNING COMMITTEE


L. Michael Gracik, Jr., Co-Director
Keiter/ Glen Allen

D. French Slaughter, III, Co-Director
Charlottesville

David M. Chase, Jr.
Wall, Einhorn & Chernitzer, PC / Norfolk

Michael Doran
University of Virginia School of Law / Charlottesville

Cecelia P. Horner
Hunton Andrews Kurth LLP / Richmond

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

Jeri K. Seidman
University of Virginia McIntire School of Commerce / Charlottesville

Bruce C. Stockburger
Gentry Locke / Roanoke

Professor Ethan Yale
University of Virginia School of Law / Charlottesville

TRUSTEES EMERITUS


George C. Howell, III
Hunton Andrews Kurth / Richmond

Thomas R. White
University of Virginia School of Law / Charlottesville

George K. Yin
University of Virginia School of Law / Charlottesville 

Locations, Dates and Fees

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