Event Overview
Tax Section Partnership and Capital Markets – Part One
Tuesday, January 18, 2022
9:00 a.m. – 12:00 p.m.
3.0 MCLE Credits
3.0 Areas of Professional Practice
Corporate and State & Local Taxes – Part Two
Wednesday, January 19, 2022
9:15 a.m. – 12:00 p.m.
3.0 MCLE Credits
3.0 Areas of Professional Practice
“Luncheon” and International – Part Three
Tuesday, January 25, 2022
12:30 p.m. – 3:30 p.m.
2.0 MCLE Credits
2.0 Areas of Professional Practice
This program is transitional and is suitable for all attorneys including those newly admitted.
Tax Section Chair and Program Chair
Gordon E. Warnke, Esq.
KPMG LLP
New York, NY
Co-sponsored by
Tax Section Partnership and Capital Markets – Part One
Tuesday, January 18, 2022
9:00 a.m. – 12:00 p.m.
3.0 MCLE Credits
3.0 Areas of Professional Practice
This program is transitional and is suitable for all attorneys including those newly admitted.
Tax Section Chair and Program Chair
Gordon E. Warnke, Esq.
KPMG LLP
New York, NY
8:45 a.m. – 9:00 a.m.
Section Business Meeting, Election of Officers, Welcome and Introduction
Speaker:
Gordon E. Warnke, Esq., Section Chair KPMG LLP New York, NY9:15 a.m. – 10:30 a.m.
Disruption and Uncertainty in Partnership Taxation
This panel will discuss potential changes impacting partnerships and partners under the Build Back Better Act, debt financed distributions and guarantees after the Tribune Media Co. decision, open questions regarding carried interest under the Section 1061 final regulations and the impact of legislative proposals that address carried interest and other recent developments in partnership taxation.
Panel Chair:
Amanda H. Nussbaum, Esq. Proskauer Rose LLP New York, NYPanelists:
Jennifer Alexander, Esq. Deloitte Tax LLP Washington, D.C. James R. Brown, Esq. Ropes & Gray LLP New York, NY Monisha Santamaria, Esq. Legislation Counsel Joint Committee on Taxation Washington, D.C. 1.5 Credits in Areas of Professional Practice10:30 a.m. –10:45 a.m.
Break
10:45 a.m. –12:00 p.m.
Section 163(n) Limitation on Disproportionate US Interest Expense – Theory and Some Practical Observations
Proposed section 163(n) limits the deduction for net interest expense of a US corporate group that is part of a larger world-wide group of entities where, for financial statement purposes, net interest expense is disproportionately located in the US group. This panel will begin with a discussion of the basic mechanics of the provision and its policy underpinnings. In the inbound context, the provision appears to serve a traditional anti-base erosion purpose. In the outbound context, section 163(n) appears to have a completely different purpose – to operate as a surrogate for expense allocation and apportionment. The panel will also discuss several curious features of the provision including: (i) the real-world impact of the carryforward of disallowed interest expense, (ii) its interaction with section 163(j), (iii) the practical effect of using book (not tax) numbers to determine disproportionality, and (iv) the impact of losses on US interest expense deductibility.
Panel Chair:
Jeffery W. Maddrey, Esq. Pricewaterhouse Coopers LLP Washington, D.C. Panelists: Lucy W. Farr, Esq. Davis Polk & Wardwell LLP New York, NY William L. McRae, Esq. Cleary Gottlieb Steen & Hamilton LLP New York, NY Michael K. Yaghmour, Esq. EY LLP Washington, DC 1.5 Credits in Areas of Professional PracticeCorporate and State & Local Taxes – Part Two
Wednesday, January 19, 2022
9:15 a.m. – 12:00 p.m.
3.0 MCLE Credits
3.0 Areas of Professional Practice
This program is transitional and is suitable for all attorneys including those newly admitted.
Tax Section Chair and Program Chair
Gordon E. Warnke, Esq.
KPMG LLP
New York, NY
9:15 a.m. – 10:30 a.m.
What’s on Corporate’s Plate
For almost two years, the IRS, tax advisors, and corporate tax departments alike mostly have been working remotely, diminishing certain opportunities for interactions that facilitate understanding of the government’s thinking and private sector priorities. This panel will look back at how Associate Chief Counsel (Corporate) has addressed selected prior guidance during this period, look at selected corporate and consolidated return items on the 2021-2022 Priority Guidance Plan, and look forward to selected corporate items identified by NYSBA in its reports as needing guidance in the future.
Panel Chair:
Lawrence M. Garrett, Esq. EY LLP Washington, D.C.Panelists:
Brian D. Krause, Esq. Paul, Weiss, Rifkind, Wharton & Garrison LLP New York, NY Linda Z. Swartz, Esq. Cadwalader, Wickersham & Taft LLP New York, NY Robert H. Wellen, Esq. Associate Chief Counsel (Corporate) Internal Revenue Service Washington, D.C. (Invited) 1.5 Credits in Areas of Professional Practice10:30 a.m. –10:45 a.m.
Break
10:45 a.m. – 12:00 p.m.
An Update on New York’s Pass-Through Entity Tax and the State Tax Implications of Remote Work
New York recently enacted an elective tax on pass-through entities. This panel will discuss the mechanics of the new regime, recent administrative guidance, and the panelists’ experiences to date in implementing and administering the election. With Covid continuing to impact state taxation, the panel will also discuss the latest developments and thinking on the state tax ramifications of telecommuting, which some companies are adopting as a long-term option for employees.
Panel Chair:
Jack Trachtenberg, Esq. Deloitte Tax LLP New York, NYPanelists:
Deborah R. Liebman, Esq., Deputy Counsel Office of Counsel New York State Department of Taxation and Finance Albany, NY (Invited) Alysse B. McLoughlin, Esq. Jones Walker LLP New York, NY Elliot Pisem, Esq. Roberts & Holland LLP New York, NY 1.5 Credits in Areas of Professional Practice“Luncheon” and International – Part Three
Tuesday, January 25, 2022
12:30 p.m. – 3:30 p.m.
2.0 MCLE Credits
2.0 Areas of Professional Practice
This program is transitional and is suitable for all attorneys including those newly admitted.
Tax Section Chair and Program Chair
Gordon E. Warnke, Esq.
KPMG LLP
New York, NY
12:30 p.m. – 1:30 p.m.
Awards “Luncheon”
Keynote Speaker:
Lily Batchelder, Esq. Assistant Secretary for Tax Policy Department of the Treasury Washington, D.C.1:30 p.m. – 1:45 p.m.
Break
1:45 p.m. – 3:30 p.m.
International Tax: A Globally Coordinated Minimum Tax Regime - How Close Are We Really?
As this program is being organized, much is in flux. The OECD inclusive framework is imminently expected to publish model rules for the implementation of a coordinated global minimum tax regime, the EU is working on a directive for implementation, and, at least if the Build Back Better Act is enacted, a reformed version of the US GILTI and BEAT regime may "co-exist" with the global regime. How aligned will the OECD Pillar Two release be with the current and future US GILTI and BEAT regimes, and what are the potential policy and practical inconsistencies?
Moderator:
Danielle E. Rolfes, Esq. KMPG LLP Washington, D.C.Panelists:
Michael Plowgian, Esq. Counselor Department of the Treasury Washington, D.C. (Invited) John Peterson, Esq. Head of Unit - Aggressive Tax Planning Organisation for Economic Co-operation and Development (OECD) Paris, France Kara L. Mungovan, Esq. Davis Polk & Wardwell LLP New York, NY Stephen E. Shay, Esq. Adjunct Professor Boston College Law School Newton Centre, MA 2.0 Credits in Areas of Professional Practice
Virtual Programming Pricing
Virtual Meeting General Registration Fee
$25
Required to attend any virtual CLE programs
+plus…
EARLY BIRD REGISTRATION (Before 12/31/21)
$150: Section Member | $195: NYSBA Member | $300: Non-NYSBA Member
REGULAR REGISTRATION (1/1/22 and after)
$190: Section Member | $240: NYSBA Member | $390: Non-NYSBA Member
Please note: The pricing provided reflects the total cost for attending the entire Annual Meeting program provided by the Section. During the registration process, you will be able to add each day/part of the program separately at a portion of the total rate, so your final cost will be reduced if you do not register for the full program.
Speakers coming soon!
Awards coming soon!