Tax Institute Tax Institute The 74th Annual

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Tax Institute
The 74th Annual
Tuesday & Wednesday, December 2 & 3, 2014
Minnesota CLE Conference Center
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LIVE PRESENTATION
Tuesday & Wednesday, December 2 & 3, 2014
Minnesota CLE Conference Center
600 Nicollet Mall, Suite 370
Third Floor City Center, Minneapolis
COURSE MATERIALS
At the seminar, you will receive hardcopy materials for
the plenary sessions and for breakout sessions you
attend. The complete Institute Manual will be accessible
online at www.minncle.org. Online access will be
available a few days before the course. To ensure you
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LIVE PRESENTATION: 12/2-3/14
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Tax
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The 74th Annual
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Co-presented by Minnesota CLE
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Minnesota CLE is applying to the Minnesota State Board
of Continuing Legal Education for 9.5 CLE credits,
including 0.75 ethics credit for the luncheon session,
1.0 ethics credit for session #103, and 1.0 elimination
of bias credit for session #301. The maximum amount
of credits an attendee may claim for this seminar is 9.5.
NEW LAWYER SCHOLARSHIP PROGRAM
In recognition of the challenges facing lawyers entering
the profession, Minnesota Continuing Legal Education
has established a scholarship program for unemployed
and underemployed lawyers admitted less than three
years. Those wishing to apply for such assistance should
contact Grant at 651-254-2111 or gdavies@minncle.org
for details.
CANCELLATION / NO-SHOW POLICY
Paid registrants who cancel their registration at least
3 business days before the program will receive a full
credit on their account; if fewer than 3 business days, a
$25 administrative fee will be deducted. Paid registrants
who fail to attend will receive the written materials.
Passholders may purchase the course materials at 50%
of the full retail price.
ACCOMMODATION
If you have a disability and need an accommodation in
order to attend this seminar, please contact Minnesota
CLE as soon as possible at 2550 University Avenue
West, Suite 160-S, Saint Paul, MN 55114 or call us at
651-227-8266 or 800-759-8840.
The premier tax event of the year, bringing together national
authorities, Minnesota experts, and your colleagues –
unparalleled practical education and real-world advice!
–Acquire a Comprehensive Update on the new tax
laws, legislation, regulations, rulings, cases, and legal
developments – the information you need to stay current
on all the tax issues affecting your practice.
–Tailor Your Learning by choosing from 14 diverse small
group sessions, including both ethics and elimination of
bias.
–Network with Your Colleagues throughout the
conference, at the Institute Luncheon, and at the Annual
Reception – with a chance to win great prizes, including
an Apple iPad mini!
The 2014 Tax Institute Welcomes
Back Special Luncheon Speaker:
Karen L. Hawkins,
Director of the IRS
Office of Professional
Responsibility in
Washington, D.C.,
presenting Recent Revisions
to Circular 230 and Evolving
Issues in the Office of
Professional Responsibility
QUESTIONS?
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Tuesday & Wednesday, December 2 & 3, 2014
Minnesota CLE Conference Center | 600 Nicollet Mall, Suite 370 | Third Floor City Center | Minneapolis
Schedule
Faculty & Planners
Tuesday, December 2, 2014
2:00 – 2:15 P.M.
8:00 – 8:45 A.M.
2:15 – 3:15 P.M.
SMALL GROUP SESSION B
CHECK-IN & CONTINENTAL BREAKFAST
BREAK
8:00 – 8:30 A.M.
8:45 – 9:00 A.M.
– Caroline D. Balfour, MSBA Tax Law Section Chair
9:00 – 10:00 A.M.
Federal Individual Tax Law Update
The recent issues impacting individual taxation, including legislative, regulatory, and case
law developments. Opportunities and pitfalls associated with these developments, with
emphasis on proactive steps to achieve the best results for the taxpayer.
– Stacy D. Rubsam
201 Partnership
202 Tax
Federal Business Tax Law Update
A summary of the past year’s statutory, regulatory, and judicial business
tax developments.
– Mel Schwarz
10:00 – 10:10 A.M.
Caroline D. Balfour
Daniel P. Bartholet
Issues in Entity Selection
A discussion of the tax considerations that affect the entity selection
process.
– Sara M. Kilian
Minnesota Tax Law Update
An overview of the major tax changes from this year’s legislative session as well as
significant Minnesota cases and policy developments.
– Caroline D. Balfour, Dale H. Busacker & Tamar N. Gronvall
11:30 A.M. – 1:00 P.M. INSTITUTE LUNCHEON – RADISSON BLU MINNEAPOLIS
12:00 – 12:45 P.M.
LUNCHEON PRESENTATION:
Recent Revisions to Circular 230 and Evolving Issues in the
Office of Professional Responsibility
(.75 ethics credits applied for)
– Karen L. Hawkins, Director
Office of Professional Responsibility; Internal Revenue Service
1:00 – 2:00 P.M.
SMALL GROUP SESSION A
Corporations – Update and Planning Opportunities
An analysis of the most current regulations, rulings, cases, and legislation that affect S
corporations and subsequent planning opportunities.
– Jack W. Carlson
102 Significant
Multistate Sales Tax and Income Tax
Developments
Recent sales and income tax developments, including an update on amendments
to the Multistate Tax Compact as well as changes to the corporate tax regimes in
the District of Columbia, New York, Rhode Island, and other states; and a review of
selected significant sales and income tax litigation, including decisions regarding the
Multistate Tax Compact, state apportionment, and federal legislation impacting state
taxation.
– Daniel P. Bartholet & William J. Lunka
A Discussion with OPR
(1.0 ethics credits applied for)
The Office of Professional Responsibility interprets and enforces standards of practice
for tax professionals covered by Circular 230. Minnesota practitioners will join
Karen L. Hawkins to discuss Circular 230 topics to ensure attorneys and CPAs adhere
to the professional standards and follow the law.
– Karen L. Hawkins, Thomas E. Brever, Thomas M. Regan & Charles Selcer
– Alan Gregerson, moderator
IRAs and 401(k)s
An individual account owner’s perspective on planning techniques,
including recent rulings on IRA rollovers and IRAs during
bankruptcy, and guidance for practitioners when working with
individual taxpayers.
– Angela M. Veldhuizen
3:15 – 3:30 P.M.
BREAK
3:30 – 4:30 P.M.
SMALL GROUP SESSION C
301 Communicating
Communities
402 DLOMs
and How to Work with the IRS
A presentation of the major models and data sources for
developing a Discount for Lack of Marketability (DLOM), a critique
of the IRS Job Aid, and commentary on how to work with an expert
and with the IRS on these and other technical issues.
– Michael A. Gregory
11:10 – 11:20 A.M.
Effectively with Immigrant
(1.0 elimination of bias credits applied for)
An exploration of how to communicate effectively with immigrant
communities and how to bridge cultural gaps, including differences
in socio-economic and religious backgrounds.
– Kathryn J. Sedo
302 Update
on International Tax Issues and
Proposals for Reform
Recent developments in international tax matters, including
foreign M&A, inversions, business expansion abroad, OECD-BEPS
proposals, tax treaties, international licensing, and foreign reporting
and disclosure programs, as well as recent U.S. developments in
international tax policy and tax reform proposals.
– Kenneth S. Levinson & Gerald J. Morris
303 Tangible
Asset and Repair Regulations:
What You Need to Know
A brief overview of the new regulations and a discussion of
potential pitfalls and planning opportunities during organizational
transactions or restructurings.
– Michael W. Cole
Yuri B. Berndt
Thomas E. Brever
BREAK
11:20 – 12:20 P.M.
SMALL GROUP SESSION E
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Donald J. Brown
Dale H. Busacker
501 Tax
Issues for Nonprofits
A synopsis of the key differences between charitable/educational
organizations described in §501(c)(3) and social welfare
organizations described in §501(c)(4), including deductions
of contributions, political activity, and sales tax/real estate tax
exemption.
– J. Patrick Plunkett
502 Litigating
Courts
in the U.S. and Minnesota Tax
A primer on the unique procedures involved in conducting litigation
in the U.S. and Minnesota Tax Courts.
– Thomas E. Brever & David L. Zoss
503 Hot
Topics in Corporate Taxation
Recent shareholder, corporate, and business tax developments,
focusing on year-end tax planning and new opportunities for midsize and closely held companies.
– Kevin W. Kaiser
Jack W. Carlson
Smith Schafer and Associates, Ltd.
Rochester
Thomsen Nybeck, P.A.
Bloomington
Fredrikson & Byron, P.A.
Minneapolis
Gina B. DeConcini
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Alan Gregerson
Michael A. Gregory
Internal Revenue Service
Bloomington
Kevin W. Kaiser
Lindquist & Vennum LLP
Minneapolis
Gerald J. Morris
General Mills, Inc.
Minneapolis
Michael E. O’Brien
KPMG LLP
Minneapolis
J. Patrick Plunkett
Larkin Hoffman Daly & Lindgren Ltd.
Minneapolis
Thomas M. Regan
Regan Tax Law
Minneapolis
John C. Schmittdiel
Karen L. Hawkins
Internal Revenue Service
Washington, D.C.
William J. Lunka
Grant Thornton LLP
Minneapolis
u
Tamar N. Gronvall
Office of the Minnesota Attorney General
St. Paul
Kenneth S. Levinson
Faegre Baker Daniels LLP
Minneapolis
Mark D. Salsbury
Michael Gregory Consulting LLC
Roseville
Gray Plant Mooty
Minneapolis
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Oppenheimer Wolff & Donnelly LLP
Minneapolis
William D. Klein
Stacy D. Rubsam
Michael W. Cole
McGladrey LLP
Minneapolis
Sara M. Kilian
Fredrikson & Byron, P.A.
Minneapolis
u
Emily M. Chad
u
Grant Thornton LLP
Minneapolis
u
Cargill, Incorporated
Minneapolis
Patrick J. Butler
University of Minnesota
Minneapolis
u
Foster & Brever, PLLC
St. Anthony
Heather J. Broneak
Moss & Barnett PA
Minneapolis
u
Update – Tax Due Diligence
A discussion of the process and pitfalls of tax due diligence.
– Patrick J. Butler & Jodie A. Scott
Grant Thornton LLP
Minneapolis
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10:10 – 11:10 A.M.
SMALL GROUP SESSION D
401 M&A
Institute Chair
Grant Thornton LLP
Minneapolis
u
BREAK
BREAK
10:15 – 11:30 A.M.
103 Ethics:
Update
An in-depth discussion of the revised Minnesota Limited Liability
Company Act, signed into law in April 2014, as well as a brief
update of federal tax changes and proposed legislation under
Subchapter K effective for the 2014 and 2015 tax years.
– Emily M. Chad & Michael W. Cole
203 Maximizing
101 S
CONTINENTAL BREAKFAST
u
8:30 – 10:00 A.M.
Welcome and Introduction
10:00 – 10:15 A.M.
Wednesday, December 3, 2014
CliftonLarsonAllen LLP
Minneapolis
Lindquist & Vennum LLP
Minneapolis
IRS Office of Chief Counsel
St. Paul
Mel Schwarz
Grant Thornton LLP
Washington, D.C.
Jodie A. Scott
KPMG LLP
Minneapolis
Kathryn J. Sedo
University of Minnesota Law School
Minneapolis
Charles Selcer, CPA
Schechter Dokken Kanter
Minneapolis
Angela M. Veldhuizen
SilverOak Wealth Management LLC
Edina
David L. Zoss
IRS Office of Chief Counsel
St. Paul
4:30 P.M.
The Annual Tax Institute
Reception
Refreshments, hors d’oeuvres, networking,
and a chance to win fun prizes – including an
Apple iPad mini!
Special thanks to the Planning Committee for its outstanding
contribution of time and expertise in planning this Institute.
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Planning Committee member