Taxation Section Annual Report 2012

In General
Committee Activities
CLE and Special Activities
Community Outreach
Committee Program Series and Sample Programs
Continuing Legal Education

In General
The Taxation Section has 1,883 members (as of June 30, 2012) and operates primarily through its ten committees: Corporation Tax, Employee Benefits, Estate Planning, Exempt Organizations, Financial Products, International Tax, New Tax Practitioners, Pass-Throughs and Real Estate, State and Local Taxes, and Tax Audits and Litigation. The steering committee meets on a monthly basis. The committee chairs and vice chairs of all committees attend every other steering committee meeting.
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Committee Activities
Consistent with past years, each Taxation Section committee has continued to sponsor timely and informative educational programs for its respective membership. Each committee has between five and nine scheduled meetings each year. In total, the Taxation Section committees expect to host approximately 61 luncheon programs during the 2012-2013 year on matters of current interest to tax practitioners. In addition, special luncheon programs may be scheduled to address important new developments.

The featured speakers at the programs are typically high-level government officials responsible for formulating federal and local tax policy. For that reason, the section’s programs are regularly covered in the national tax press. Special admission rates are available for luncheon series subscribers in every category (e.g., non-section members, section members), for government and non-profit employees, and for law students. To increase participation by government attorneys, the Taxation Section also has a no-charge “brown bag” option for government employees. This affords our members greater access to government attorneys and policy makers. A list of the dates of each committee’s planned programs and details of a sample program for each can be found here.

To assist our committee chairs and vice chairs in providing the best service to their members, the steering committee has developed a list of “Best Practices” that committee chairs and vice chairs are asked to adopt. For example, all committee chairs are asked to make early program decisions, have written handouts prepared for each program, write thank-you letters or emails to speakers, give caveats if needed for government speakers, alert the tax press of important programs, and distribute flyers of upcoming events. In addition, committee chairs are asked to maintain separate email lists for their respective committee members so that program information can be sent to all committee members on an expedited basis as necessary. This list is reviewed and updated as necessary.

An important committee of the Taxation Section is our New Practitioners Committee. Last year, the New Practitioners Committee, as it had for several years, partnered with other substantive tax committees to sponsor “back-to-basic” programs that focused on the basic rules of the particular tax specialty. In the spring of 2012, one program was in partnership with the Pass-Throughs and Real Estate Committee and another was in partnership with the Corporation Tax Committee, both of which were well attended. This year, as it has done in the past, the committee will partner with the Law Practice Management Section to sponsor a program on “Careers in Tax Law.” The program is intended to assist tax practitioners in their job searches, with advice keyed to several different career stages.

The section held a lunch on June 20, 2012 at which Emily S. McMahon, the then acting Assistant Secretary for Tax Policy with the Treasury Department was the featured speaker. Ms. McMahon and her staff in the Office of Tax Policy analyze, develop and implement Federal tax policies and programs, interacting with Congress and senior IRS officials on the entire spectrum of tax regulatory and legislative matters. As the top tax advisor to the Secretary of the Treasury, Ms. McMahon represents the Administration in testifying before Congress on matters of tax policy and negotiating tax treaties with foreign countries. The program was designed to appeal to tax practitioners generally and was a nice event for summer associates interested in tax. It was very well attended.

The steering committee is currently developing plans to host a membership reception as a thank you and networking event targeted for the spring of 2013, and also is considering other activities for the benefit of existing section members and to attract new members to the section.
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CLE and Special Activities
The Taxation Section held three CLE programs in August and October of 2011 that are described here. In addition, we continue to co-sponsor a number of regularly recurring CLE classes with other sections, and throughout the year we co-sponsor various non-Taxation Section programs that might be relevant to our members’ practices in order to broaden the types of programs made available to our members.
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Community Outreach
The Taxation Section has an active community outreach component. As an ongoing activity, we help staff the Pro Bono Program’s monthly Advice and Referral Clinic with a tax lawyer. Our section will participate as a co-sponsor of the annual Youth Law Fair in the spring, and also supports the Community Economic Development Project of the Bar.
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Committee Program Series Dates and Sample Programs: September 2012 - June 2013

Corporation Tax Committee Series
Five luncheon programs initially scheduled as follow:

10/2/2012
12/19/2012
2/12/2013
4/16/2013
6/11/2013

Sample Program:
Corporate Equity Reduction Transactions Rules

Description:
An in-depth discussion of the CERT rules, including recent developments and potential future guidance.

Speakers
Andrew M. Eisenberg, Jones Day
Jeffrey L. Vogel, KPMG, LLP
Lee A. Kelley, Office of Tax Policy, United States Department of the Treasury
Brian A. Peabody, Ernst & Young LLP
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Employee Benefits Committee Series
Seven luncheon programs initially scheduled as follow:

9/27/2012
10/23/2012
11/29/2012
1/24/2013
2/28/2013
4/11/2013
5/9/2013

Sample Program:
Health Reform Update

Description:
Our panel of expert practitioners and government speakers will discuss practical implications of the Supreme Court's decision to uphold the Patient Protection and Affordable Care Act. Topics discussed will include changes to benefit plans, upcoming deadlines, the new world of exchanges, and recent and forthcoming guidance.

Speakers
Kevin Knopf, Attorney Advisor, Office of Benefits Tax Counsel, Department of Treasury
Kathryn Wilber, Senior Counsel, Health Policy, American Benefits Council
Seth Perretta, Partner, Crowell & Moring (Moderator)
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Estate Planning Committee Series
Eight luncheon programs initially scheduled as follow:

9/11/2012
10/17/2012
11/15/2012
12/11/2012
1/8/2013
2/19/2013
3/14/2013
5/14/2013

Sample Program:
Temporary Regulations Governing Portability of Unused Exemptions Between Spouses

Description:
In this program, Catherine Hughes, of the US Treasury Department, Office of Tax Policy, will discuss the recently released temporary regulations on the portability of unused exemptions between spouses.

Speakers
Catherine V. Hughes, Department of Treasury, Office of Tax Policy
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Exempt Organizations Committee Series
Five luncheon programs initially schedule as follows:

10/3/2012
12/11/2012
2/20/2013
4/17/2013
5/15/2013

Sample Program:
Private Foundation Grants to Foreign Organizations

Description:
Ruth Madrigal (Treasury), Courtney Jones (IRS), and Michael Durham (Caplin & Drysdale) will discuss the recent proposed regulations on reliance standards for private foundations to make determinations that a foreign charity is equivalent to a domestic 501(c)(3) organization.

Speakers
Courtney Jones, (IRS)
M Ruth Madrigal, (Treasury)
Alexander Reid, Morgan, Lewis & Bockius LLP (Moderator)
Michael Durham, Caplin & Drysdale
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Financial Products Committee Series
Five luncheon programs initially schedule as follows:

10/4/2012
11/27/2012
2/5/2013
4/9/2013
5/21/2013

Sample Program:
Financial Transactions Taxes at Home and Abroad

Description:
This panel will discuss recently enacted and proposed financial transaction taxes in Europe, including France's new tax on high frequency orders, as well as the potential for some form of financial transactions tax in the United States. The panel will consider the various rationales advanced for the tax, the scope of the current proposals, and the potential consequences of the tax, both intended and unintended.

Speakers
Dean Baker, Center for Economic and Policy Research
Thornton Matheson, Economist, Tax Policy, International Monetary Fund
Lee Sheppard, Contributing Editor, Tax Notes
Steven Rosenthal, Visiting Fellow, Urban-Brookings Tax Policy Center (Moderator)
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International Tax Committee Series
Six luncheon programs initially schedule as follows:

9/18/2012
11/7/2012
1/15/2013
3/6/2013
4/25/2013
6/5/2013

Sample Program:
The Post-Election Prospects for Tax Reform

Description:
This panel of two former Joint Committee Chiefs of Staff and a former Treasury Assistant Secretary for Tax Policy will discuss how the election results might affect the content and timing of individual and business tax reform.

Speakers
Hank Gutman, KPMG LLP, Principal, Former Chief of Staff, Joint Committee on Taxation
Lindy Paull, PwC LLP, Partner, Former Chief of Staff, Joint Committee on Taxation
Eric Solomon, Ernst & Young LLP, Principal, Former Assistant Secretary (Tax Policy), Treasury Department
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New Tax Practitioners Committee Series
Seven luncheon programs initially schedule as follows:

10/10/2012
11/6/2012
1/22/2013
2/7/2013
3/7/2013
4/30/2013
5/22/2013

Sample Program:
Careers in Tax Law: A Panel of Distinguished Practitioners Discuss Different Areas of Tax Practice

Description:
Please join us for a panel discussion of distinguished tax practitioners who will provide insight, advice, and guidance on how to achieve a successful career in various areas of tax law, including transactional, controversy and litigation, state and local, and estate and gift. Question and answer period to follow.

Speakers
Anne W Coventry, Principal, Pasternak & Fidis, P.C.
Craig Gibian, Partner, Shearman & Sterling LLP
Andrew Strelka, Trial Attorney, Tax Division, U.S. Department of Justice
Monica Tillet, Managing Director, WTAS, LLC
Lisa M. Zarlenga, Tax Legislative Counsel, United States Department of the Treasury
Anne Collier, Arudia (Moderator)
Sarah Ritchey, Miller & Chevalier (Moderator)
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Pass-Throughs and Real Estate Committee Series
Six luncheon programs initially schedule as follows:

9/19/2012
10/24/2012
11/28/2012
1/16/2013
2/27/2013
4/24/2013

Sample Program:
The Mechanics and Tax Consequences of Clawback Arrangements

Description:
Todd Golub and Steven Schmoll from Ernst & Young LLP and Steven Schneider from Goulston & Storrs PC will discuss the tax issues that relate to clawbacks in the fund context.

Speakers
Todd Golub, Ernst & Young LLP
Steven Schmoll, Ernst & Young LLP
Steven Schneider, Goulston & Storrs PC (Moderator)
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State and Local Taxes Committee Series
Six luncheon programs initially schedule as follows:
11/6/2012
12/4/2012
1/9/2013
3/5/2013
5/1/2013
6/19/2013

Sample Program:
D.C. State & Local Tax Update

Description:
Key members of the Chief Counsel’s Office, Office of Tax and Revenue, will address hot topics that have arisen during the past year, including but not limited to recent developments in transfer pricing, and changes to combined reporting, payment of sales and use tax by street vendors, required filing of sales and use tax form by employers, taxation of exempt bonds, real property tax sales, recordation tax and the Real Property Tax Commission.

Speakers
Rosalie Alligood, Assistant General Counsel, D.C. OTR
Ed Blick, Ed Blick, Special Litigation Counsel, D.C. OTR
Bill Bowie, Special Counsel and Acting Deputy Chief Counsel, D.C. OTR
Bazil Facchina, Assistant General Counsel, D.C. OTR
Aaishah Hashmi, Assistant General Counsel, D.C. OTR
Sonia Kamboh, Assistant General Counsel, D.C. OTR
Alan Levine, Chief Counsel, D.C. OTR
Bob McKeon, Deputy Chief Counsel, D.C. OTR
Pilar Mata, Sutherland Asbill & Brennan LLP (Moderator)
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Tax Audits and Litigation Committee Series
Seven luncheon programs initially schedule as follows:

10/4/2012
11/6/2012
1/29/2013
2/26/2013
3/20/2013
5/7/2013
5/30/2013

Sample Program:
Disclosing Reportable Transactions on Form 8886: How to Make Proper Disclosures and Avoid Penalties

Description:
This panel of IRS and private sector speakers will discuss the compliance issues involved in disclosing reportable transactions on Form 8886, "Reportable Transaction Disclosure Statement." The reporting requirements of Reg. 1.6011-4 have become increasingly strenuous and pose many pitfalls for the unwary. These requirements apply to five categories of reportable transactions: (1) listed transactions; (2) confidential transactions; (3) transactions with contractual protections; (4) loss transactions; and (5) transactions of interest.

The panel will review how to make proper disclosures on Form 8886 and to avoid penalties. Specific topics to be covered include (1) reporting requirements applicable to section 165 loss transactions, partnerships and partners, section 988 losses, and tiered partnerships; (2) IRS guidance including Chief Counsel Advice 201045022; (3) protective disclosures; and (4) how the Office of Tax Shelter Analysis (OTSA) handles Form 8886 disclosures.

Speakers
Jeremiah Coder, Contributing Editor, Tax Notes
William Conroy, Attorney, IRS, Large Business and International (LB&I) Division Counsel
Caroline E. Hay, Attorney, IRS, Office of the Associate Chief Counsel (Passthroughs & Special Industries)
Corina M. Trainer, Managing Director, PwC, Tax Controversy & Dispute Resolution
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Continuing Legal Education (CLE)
For the Bar year 2011-12, the Taxation Section sponsored (or co-sponsored) the following programs:

• August 10, 2011: What Tax Practitioners Need to Know about Cross-Border Mergers, Acquisitions and Restructurings: Avoiding Pitfalls and Identifying Opportunities
• August 24, 2011: Estate Tax Past, Present and Future: 2010 Estates and 2011 Planning
• Oct 5 and 12, 2011: Introduction to the Taxation of Financial Instruments Series
• Nov 7, 14, 21 and 28, 2011 – ERISA Basics Series
• Dec 9, 2011: A Primer on Nonprofit Law in D.C. 2011
• March 15, 2012: How to Apply for Tax Exempt Status 2012
• June 4, 2012: Legal Issues in Creating and Managing an Advocacy Campaign

For the Bar year 2012-13, the Taxation Section will sponsor (or cosponsor) the following programs:

• Essentials of Representing Nonprofits and Foundations: Tax and Election Law for Public Policy (Sept 20 and 21)
• Introduction to the Taxation of Financial Instruments Series (Oct 10 and 17)
• Advising Foreign Nationals on Starting a Business in the United States (Thurs, Nov 8) – morning session on corporate formation and tax issues, while afternoon session is business strategy and immigration issues
• ERISA Basics Series (Mondays, Nov 5, 19 and 26 and Tues, Nov 13)
• A Primer on Non-Profit Law in the District of Columbia (Wed, Dec 12) – this full –day class includes a segment on tax issues including a quick discussion about obtaining and maintaining tax-exempt status, and the benefits and detriments of this status
• Financial Accounting Basics for Lawyers (Jan. 23, 2013)
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