2022 72nd Midyear Conference

Mar 20, 2022 ‐ Mar 23, 2022



Sessions

Concurrent Sessions iconConcurrent Sessions

Preview Available

Concurrent Sessions

Mar 21, 2022 3:45pm ‐ Mar 21, 2022 4:45pm

Identification: CC04


The Corporate Transparency Act’s Beneficial Ownership Reporting Requirements – What In-House Tax Professionals Need to Know

Mar 21, 2022 3:45pm ‐ Mar 21, 2022 4:45pm

Identification: M12

This session will cover the proposed beneficial ownership information reporting requirements under section 6403 of the Corporate Transparency Act, which was enacted as part of the National Defense Authorization Act for Fiscal Year 2021. Proposed Treasury regulations issued in December 2021 would describe who must file a report, what information must be provided, and when a report is due. Once finalized, these proposed regulations will affect a large number of entities doing business in the United States—hence their relevant to in-house tax professionals.

After this session, participants will understand the following aspects of the proposed beneficial ownership information reporting requirements: (1) who must report; (2) what must be reported; (3) the timing of reporting; (4) penalties; (5) use of information; and (6) data security.

Moderator(s):
  • Ms. Linda S. Kim, Director, Taxes, Head of Tax| Member, TEI's Executive Committee, Infinite Electronics, Inc.
Speaker(s):
Tags: FED CTM INTL

State Responses to Federal Tax Reform: Developing Audit Issues and Litigation

Mar 21, 2022 3:45pm ‐ Mar 21, 2022 4:45pm

Identification: M13

Enactment of the TCJA in 2017 and the subsequent adoption of various COVID-related measures resulted in states responding with a seemingly endless parade of changes. The result was an extremely diverse patchwork of state responses that made compliance inordinately complex, while at the same time created opportunities and audit risks. This session will explore the maze, opportunities, and emerging controversies.

  • Understand state tax conformity issues and legislative responses.
  • Learn about filing issues on issues stemming from TCJA adoption.
  • Learn about pending and future litigation on TCJA issues.

Moderator(s): Speaker(s):
Tags: SALT

Advising Your Company’s Charitable Foundation – A Primer for the In-House Tax Executive

Mar 21, 2022 3:45pm ‐ Mar 21, 2022 4:45pm

Identification: M14

This session will assess the primary issues that arise when advising a company's in-house charitable foundation, as well as other non-profit issues that may arise.

Learning Objectives:
  • Identify major tax risks in advising a company's charitable foundation
  • Understand the unique tax issues arising when a company involves itself with a non-profit
  • Properly advise their employer and the charitable foundation on how to address the relevant tax issues.
Moderator(s):
  • Mr. Marcus S. Shore, Vice-Chair, TEI's Federal Tax Committee | Dominion Energy Services, Inc., Dominion Energy Services, Inc.
Speaker(s):
Tags: CTM FED

Break iconBreak

Preview Available

Break

Mar 21, 2022 4:45pm ‐ Mar 21, 2022 5:00pm

Identification: BK5


Concurrent Sessions iconConcurrent Sessions

Preview Available

Concurrent Sessions

Mar 21, 2022 5:00pm ‐ Mar 21, 2022 6:00pm

Identification: CC05


What’s Next? New and Trending Issues in State Tax Legislation

Mar 21, 2022 5:00pm ‐ Mar 21, 2022 6:00pm

Identification: M15

State budgets reacted differently during the pandemic. This session will provide a comprehensive review of state budget scenarios and legislative trends.

  • Learn about current state budget scenarios.
  • Understand policy issues that impact tax reform.
  • Learn about the biggest trends in state tax legislation.

Moderator(s): Speaker(s):
Tags: SALT

Foreign Tax Credits: The Final Regulations New Attribution Requirement and Other Issues

Mar 21, 2022 5:00pm ‐ Mar 21, 2022 6:00pm

Identification: M16

This session will include a detailed walk-through of the final foreign tax credit regulations issued in late 2021, with an emphasis on the regulations' new attribution requirement

Learning Objectives:
  • Understand the major new tax issues raised by the final regulations
  • Assess the impact the final regulations will have on their company's tax planning and compliance process.
  • Apply the new attribution requirement to their company's tax operations
Moderator(s): Speaker(s):
Tags: INTL

FASB Update, Including Considerations of Evolving Legislative Proposals

Mar 21, 2022 5:00pm ‐ Mar 21, 2022 6:00pm

Identification: M17

Conducting business in today’s global environment has become increasingly complex, and financial accounting standards have, for the most part, followed suit. We have assembled an expert team of ASC 740 specialists to separate the wheat from the chaff and convey what in-house tax professionals need to know about recent FASB accounting standards updates and significant financial accounting impacts of recently enacted tax legislation, regulatory updates, and proposed legislation that has a reasonable likelihood of being enacted in the near term. Panelists will engage in an interactive dialog, covering the new accounting standards for reporting government assistance; new FASB guidance for contract assets and liabilities acquired in a business combination; impacts of the new law limiting deductibility of section 174 R&E expenditures; and potential impacts and compliance challenges of technical changes in the foreign tax credit regulations and legislative proposals involving GILTI and implementation of the OECD Pillar 2 minimum tax and Pillar 1 tax base determinations.

At the conclusion of this course, participants should:

  • Understand the new accounting standards for reporting government assistance (ASU 2021-10) and for contract assets and liabilities acquired in business combinations (ASU 2021-08) how they may impact their employer’s financial disclosures;
  • Gain awareness of the different tax calculations that are impacted by changes to IRC section 174 and the attendant ASC 740 considerations;
  • Understand the potential financial accounting impacts of technical changes to the foreign tax credit regulations and how they may impact their employer’s financial disclosures;
  • Gain awareness of the tax implications of legislative proposals involving GILTI and their corollary impacts on financial accounting;
  • Gain awareness of the general tax implications of proposed U.S. legislation implementing the OECD Pillar 2 minimum tax and Pillar 1 tax base determinations and the potential ASC 740 considerations thereof

Moderator(s): Speaker(s):
Tags: FED FIN

Thomson Reuters Cocktail Reception

Mar 21, 2022 6:00pm ‐ Mar 21, 2022 6:30pm

Identification: TR01

Cheers to TEI’s Midyear Conference attendees! Swing by Thomson Reuters’ booth on Monday from 6:00-6:30 pm for a chilled glass of champagne and a delicious spread of treats as we raise our glass to celebrate TEI's Midyear Conference and our customers.