73rd Annual Virginia Conference on Federal Taxation 2022

MCLE Credits: 12.0
Ethics Credits Included: 0.0

Thursday, June 2, 8:30 a.m. - 4:30 p.m. ET
and Friday, June 3, 8:30 a.m. - 4:30 p.m. ET

  • Live Webcast
  • Live Telephone
Learn more about Virginia CLE webcast format
Learn more about Virginia CLE telephone format

MCLE Credit:


CPE Credit for Accountants:

12.0

14.0

Live-Interactive Credit: 12.0 (all dates, all formats) Live Interactive MCLE Credit Symbol
Registration Fee: $350

Information

Objectives

Learn the law and how to apply it so you can:

  • Update your practice to account for new cases, legislation, and regulations
  • Take advantage of new planning techniques and tax trends
  • Create strategies to assist with challenges faced by clients, for both individuals and businesses
  • Employ successful new solutions to manage common problems

Virginia’s Premier Tax Conference for Attorneys and Accountants
Sponsored by The Virginia Tax Foundation

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

2022 CONFERENCE HIGHLIGHTS

  • Federal Tax Updates—Individuals and Business
  • Update on Tax Policy from Washington
  • Tax Issues of Working at Home/Remote Work
  • Cryptocurrency Tax Updates
  • General Strategies for Charitable Giving After 2017 Tax Act and the COVID-Related Acts
  • Tax Accounting Method Updates
  • Recent Developments in Virginia Taxation
  • Estate Taxation: Meeting the Liquidity Challenge
  • Recent Estate and Gift Tax Developments
  • Update on Planning for Distributions from Retirement Accounts

Prerequisites: Minimum 5 years active practice or advanced degree
Program Level: Advanced
Advance Preparation: None
Delivery Method: Live-interactive webcast/telephone

PLEASE NOTE: This seminar is not eligible for Virginia CLE® discounts, and Virginia CLE® Online+ Bundle credits and Unlimited Online Passes may NOT be used to register for this program.

Registration Deadlines:
Webcast: 10 minutes prior to seminar. If you register for a webcast the day of the seminar, your e-mail receipt will include a link to launch the seminar and download the materials.
Telephone: Online registration ends at 11:59 p.m. the day preceding the seminar
Call (800) 979-8253 to register up to one hour prior to the seminar

Cancellation and Administrative Policies: Cancellation/transfer requests will be honored until 5:00 p.m. the day preceding the seminar. You will, however, be charged $90 if you cancel or transfer your registration to a different seminar after the link to the materials has been e-mailed by Virginia CLE.

Full refunds or transfers are available up to two days after a webcast in the unlikely event that you experience technical difficulties. For more information regarding administrative policies such as complaint and refund, please contact our offices at 800-979-8253.

MCLE Credit Caveat: The MCLE Board measures credits by the time you spend in attendance. If you enter a seminar late or leave it early, or both, you must reflect those adjustments accurately in the credits you report on your credit reporting form. A code will be given at the end of the seminar, which must be written on your MCLE form.


Can't Attend?
E-mail distance_ed@vacle.org to be notified when/if this program is made available as an online or USB seminar.
E-mail publications@vacle.org to be notified when/if this program's seminar materials are made available for sale.

Schedule

COURSE SCHEDULE (June 2 and June 3) (Eastern Time)

 

 

Thursday, June 2

8:30 Opening Remarks
8:40 Update on Tax Policy from Washington
Jeffrey Kummer, Deloitte Tax LLP / Washington, DC

This session will provide an update on the current tax legislative landscape in Washington and set the stage for the upcoming November 2022 elections with a view for how those elections could impact tax policy.
9:40 Break
9:50 Meeting the Liquidity Challenge—How to Weave, Bob, Hop, Skip, and Jump When Administering an Estate with Illiquid Assets
William I. Sanderson, McGuireWoods LLP / Washington, DC, Farhan N. Zarou, McGuireWoods LLP / Washington, DC


The federal estate tax can create a significant liquidity challenge for the estate of the closely held business owner. Internal Revenue Code Section 6166 and Section 303 offer the estate of a closely held business owner a runway to meet that challenge but require the business owner and advisor to plan accordingly. They are not the only solutions, either. This session will review the challenges and opportunities from the estate tax deferral regime and practical considerations and alternatives for dealing with closely held business interests in an estate.

10:50 Break
11:00 Tax Issues of Working at Home/Remote Work
Karen M. Field, RSM US LLP / Washington, DC


This presentation will address how the recent shift to working from home makes it more important to understand your tax obligations—whether as an employee or as an employer.

12:00 Lunch Break
1:00 Recent Developments in Virginia Taxation Through the Eyes of a SALT Practitioner
Craig D. Bell, McGuireWoods LLP / Richmond


A lively discussion of Virginia tax legislation, recent court decisions, rulings of the Tax Commissioner, and opinions of the Virginia Attorney General on matters of Virginia taxation designed to keep the audience apprised of the current issues most typically being faced by taxpayers in Virginia, areas of concern by state and local tax officials, and trends observed in Virginia taxation by those who focus their practices in the area.

2:30 Break
2:45 Recent Estate and Gift Tax Developments
Samuel A. Donaldson, Professor of Law, Georgia State University College of Law / Atlanta, GA

In an always lively and informative fashion, this prestation details significant court decisions, rulings, and statutory and regulatory developments relating to trust and wealth transfer taxes over the past twelve months.
4:15 Closing Remarks
4:30 Adjourn

Friday, June 3

8:30 Opening Remarks
8:40 Federal Tax Update—Individuals
Cassady V. Brewer, Georgia State University / Atlanta, GA
James M. Delaney, University of Wyoming College of Law / Laramie, WY
Bruce McGovern, South Texas College of Law Houston / Houston, TX
9:40 Break
9:50 Federal Tax Update—Business
Cassady V. Brewer, Georgia State University / Atlanta, GA
James M. Delaney, University of Wyoming College of Law / Laramie, WY
Bruce McGovern, South Texas College of Law Houston / Houston, TX
10:50 Break
11:00 Tax Planning of Distributions from IRAs and Retirement Accounts
Christine Nguyen Piersall, Williams Mullen / Norfolk


A review of the planning opportunities and the rules for Required Minimum Distributions from IRA Retirement accounts after the SECURES Act of 2019 and review of the recently released IRS regulations interpreting the rules in the SECURES Act.  Also will include a review of possible future legislation related to retirement accounts and RMDs; SECURES Act 2.0.

12:00 Lunch Break
1:00 Accounting Methods Updates
Carol Conjura, KPMG LLP / Washington, DC


This session will provide a closer look at the most prominent issues taxpayers are facing in the implementation of the final regulations for revenue recognition under section 451(b) and (c), including the enforceable right exception, treatment of contra-revenue adjustments, and the newly introduced “cost of goods in process offset method” for inventory sales. The session will also provide the highlights of other recent judicial, regulatory, and legislative developments involving accounting methods, including the first year of transition from expensing to the mandatory amortization of research and experimental expenses, recent guidance on accounting method changes, timing considerations for the deductibility of the new pass-through entity income tax regimes, and planning with accounting methods to mitigate the limitation on deductible business interest expense.

2:00 Break
2:10 Cryptocurrency Taxation—A Primer
James Hamon, PBMares, LLP / Rockville, MD


This session provides an introduction to cryptocurrency and information on the taxation of it. The materials cover a variety of taxable and non-taxable cryptocurrency events and how they should be treated for taxation purposes.

3:10 Break
3:20 General Strategies for Charitable Giving After 2017 Tax Act and the COVID Relief Legislation
Bradley A. Ridlehoover, McGuireWoods LLP / Richmond


This session will discuss strategies on charitable giving after the 2017 Tax Act and charitable tax incentives enacted by the COVID relief legislation.

4:20 Closing Remarks
4:30 Adjourn
  • Q&A will be handled via chat room for Webcast attendees.
  • Q&A will be handled via e-mail for telephone seminar attendees.

Faculty

FACULTY

Craig D. Bell, McGuireWoods LLP / Richmond
Cassady V. Brewer, Georgia State University College of Law / Atlanta, GA
Carol Conjura, KPMG LLP / Washington, DC
Prof. James M. Delaney, University of Wyoming College of Law / Laramie, WY
Prof. Samuel A. Donaldson, Georgia State University College of Law / Atlanta, GA
James Hamon, PBMares, LLP / Rockville, MD
Karen M. Field, RSM US LLP / Washington, DC
Jeffrey Kummer, Deloitte Tax LLP / Washington, DC
Bruce McGovern, South Texas College of Law Houston / Houston, TX
Christine Nguyen Piersall, Williams Mullen / Norfolk
Bradley A. Ridlehoover , McGuireWoods LLP / Richmond
William I. Sanderson, McGuireWoods LLP / Washington, DC
Farhan N. Zarou, McGuireWoods LLP / Washington, DC


PLANNING COMMITTEE

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

D. French Slaughter, III, Co-Director
Charlottesville

Jeff Barbour
Brown, Edwards & Company, LLP / Roanoke

Christopher C. Brubaker
Hantzmon Wiebel LLP / Charlottesville

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

David J. Damiani
PBMares, LLP / Newport News

Michael Doran
University of Virginia School of Law / Charlottesville

Kristen Frances Hager
McGuireWoods / Richmond

Cecelia P. Horner
Hunton Andrews Kurth LLP / Richmond

Christopher M. Kozlowski
Gentry Locke / Roanoke

Lawrence J. Martin
Hantzmon Wiebel LLP / Charlottesville

Jon G. Neal
McGuireWoods / Richmond

Professor Susan L. Porter
University of Virginia McIntire School of Commerce / Charlottesville

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

Bruce C. Stockburger
Gentry Locke / Roanoke

Kyle Wingfield
Williams Mullen / Richmond

Professor Ethan Yale
University of Virginia School of Law / Charlottesville


TRUSTEES EMERITUS

George C. Howell, III
Hunton Andrews Kurth / Richmond

Thomas P. Rohman
McGuireWoods LLP / 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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