AICPA National Tax & Sophisticated Tax Conferences with Private Foundation Summit 2020

Nov 16, 2020 ‐ Nov 19, 2020


This year, the National Tax Conference the Sophisticated Tax for Your Wealthy Clients Conference will be co-located. Both events will take place at the same time, in the same venue. Attendees of the National Tax Conference will retain the great content and networking opportunities that you value. The AICPA Sophisticated Tax Planning for Your Wealthy Clients event brings together ideas and tips that will help you strategize better 2020 results for your clients. Both conferences benefit from the bonus of additional cross-over sessions to attend and exposure to additional subject matter experts.

Following these conferences will be the Private Foundation Summit which provides an opportunity to get front-row access and hear from the innovators in this highly specialized world. From investing to charitable activities, we’ll help attendees gain clarity for their immediate and long-term goals – and we’ll provide important guidance on dealing with the impacts of the pandemic.

Join us for the industry's most reliable guidance, coverage of the most pressing issues, and dynamic networking opportunities.

Packages Display Packages

This includes sessions from the conference: AICPA National Tax & Sophisticated Tax Conferences with Private Foundation Summit 2020

Sessions Included:

Key Rulings 2020/Individual Update (Nov 16, 2020 12:15 PM)

Key Rulings 2020/Business Tax Update (Nov 16, 2020 01:35 PM)

Tax Doctrines Tax Geeks Need to Know to Be Better Tax Practitioners: Part 2 (Nov 17, 2020 03:00 PM)

Independent Contractor Versus Employee (Nov 16, 2020 01:35 PM)

Multi-State Tax Implications - A Case Study (Nov 16, 2020 12:15 PM)

Partnerships and the Pandemic: AARs, Amended Returns, and Other Issues (Nov 17, 2020 04:00 PM)

Choice of Entity Myths: Reality vs Fantasy (Nov 16, 2020 04:20 PM)

Tax Profession in the Virtual Environment (Nov 16, 2020 05:20 PM)

199A: To Reduce or Not Reduce Qualified Business Income Deduction (Nov 16, 2020 11:15 AM)

Navigating The Maze of Old and New Loss Limitations (Nov 16, 2020 05:20 PM)

Partnership Basis: Inside, Outside, and Everything in Between (Nov 16, 2020 02:35 PM)

Financial Reporting Update (Nov 18, 2020 12:35 PM)

Cyber Threats, Attacks, and Mitigating Actions (Nov 18, 2020 01:40 PM)

Developing Thoughtful Investment and Spending Policies in Pursuit of the Foundation’s Objectives (Nov 18, 2020 03:00 PM)

Impact Investing: Building a Robust Social Investment Portfolio & Following the Yellow Brick Road to OZ (Nov 18, 2020 04:05 PM)

Morning Remarks and Book vs Tax...How Do You Take Your Morning Coffee? (Nov 19, 2020 10:00 AM)

Private Foundations and Disqualified Persons: What to be Aware of, What to Track and What Can Go Wrong (Nov 19, 2020 12:30 PM)

Private Foundation Life Events (Nov 19, 2020 01:35 PM)

What's Happening in the Tax Ethics Arena? (Nov 16, 2020 05:20 PM)

Data Privacy: Are You and Your Clients Really Safe? (Nov 16, 2020 01:35 PM)

20:20 View of International Tax-Part I Foreign Outbound (Nov 17, 2020 12:40 PM)

20:20 View of International Tax-Part III Foreign Inbound (Nov 17, 2020 03:00 PM)

AICPA Tax Policy & Advocacy Update (Nov 17, 2020 09:00 AM)

Federal Tax Update for Private Foundations (Nov 19, 2020 11:10 AM)

Planning for the Sale of Privately Held Businesses (Nov 16, 2020 11:15 AM)

Partnership: Part I (Nov 17, 2020 12:40 PM)

Partnership: Part II (Nov 17, 2020 01:40 PM)

Welcome and Keynote Presentation: Taxing Perspectives: Hindsight, Insight and Foresight (Nov 16, 2020 10:00 AM)

Cryptocurrency Taxation: Nuts, Bolts and Tax Law Updates (Nov 17, 2020 09:00 AM)

Tax Research A to Z (Nov 17, 2020 09:00 AM)

Top 10 Tax Saving Opportunities From TCJA Updates, New Regulations, & CARES Act (Nov 17, 2020 09:00 AM)

Standard: $379.00

Sessions

Welcome and Keynote Presentation: Taxing Perspectives: Hindsight, Insight and Foresight

Nov 16, 2020 10:00am ‐ Nov 16, 2020 11:05am

Identification: NTSP2001

Joseph J. Thorndike is one of America's preeminent tax historians. How does the past foretell the future? What's next, after the election? In his words: "in fiscal policy, if necessity is the mother of invention, past experience is its father.” Together, tax law is born. He will explain how history can teach us the likely boundaries of change, although he speculates there can always be a tax Black Swan. What might that be? The success and failure of past proposals will provide you with insight into handicapping the likelihood of proposed changes, particularly nearly 2 weeks after our November national election, although like any horserace, the results can only be precisely predicted at the finish line.

Key topics include a discussion of --

  • how big tax ideas become law, or failed to become law,
  • the politics of income tax versus consumption tax (i.e. VAT), and
  • why “who pays the tax” matters: the true cause of past tax revolutions, beyond the price of tea, and what past revolutions could mean for our future.

Learning Objectives:
  • Understand how past tax legislation often influences future legislation
  • Discuss policy platforms and the potential paths of change following the 2020 Presidential Election
Speaker(s):
Tags: CFP EA SOP NTA
Category: General Session (Online)
Standard: $49.00

Planning for the Sale of Privately Held Businesses

Nov 16, 2020 11:15am ‐ Nov 16, 2020 12:05pm

Identification: NTA2002

This session will explore various aspects of M&A transactions for privately held businesses focusing on common issues and opportunities faced by sellers of privately held businesses and steps that can be taken to mitigate tax gain and/or related exposures including Section 1202, negotiating seller gross ups, structuring for rollover deals with private equity buyers, minimization of state withholding on pass through entity sales, the application of Section 280G to sales of private businesses and mitigation steps, and planning for common closing date deductions in various deal scenarios.

Learning Objectives:
  • Identify opportunities to take advantage of Section 1202 on sales of private companies
  • Identify tax traps in private company sales and mitigation strategies
Speaker(s):
Category: Concurrent Session (Online)
Standard: $49.00

199A: To Reduce or Not Reduce Qualified Business Income Deduction

Nov 16, 2020 11:15am ‐ Nov 16, 2020 12:05pm

Identification: NTA2004

Tax law requires qualified business income to be reduced by certain such as the self-employed health insurance and deductible portion of the self-employment tax along with qualified retirement plan contributions.  However, the application of the law is not well settled as guidance is incomplete.  Learn about the current status of these important reductions as well as the current status of the impact of the aggregation rules by listening to practitioners and IRS representatives discuss the current state of these critical adjustments. 

Learning Objectives:
  • Understand the current IRS interpretation of the Reg. Sec. 199A-3(b)(vi) regulation as evidenced through form instructions, published frequently asked questions and oral presentation.
  • Determine how to apply the aggregation rules of Reg. Sec. 199A-4 as it relates to reduction items.
  • Understand the status of the outstanding guidance issues regarding QBI reductions and the aggregation rules.
Speaker(s):
  • Margaret Burow, J.D., LL.M. Taxation, Attorney, Office of Chief Counsel, Passthroughs & Special Industries, Internal Revenue Service
  • Troy Lewis, CPA, CGMA, Associate Teaching Professor, BYU
  • Amy Miller, CPA, Senior Manager, AICPA
Category: Concurrent Session (Online)
Standard: $49.00

Key Rulings 2020/Individual Update

Nov 16, 2020 12:15pm ‐ Nov 16, 2020 1:05pm

Identification: NTA2005

While COVID-19 tax legislation and related IRS guidance was a significant part of tax updates for 2020, there were also lots of important court cases decided and IRS regulations and rulings issued. This presentation covers the most important of these rulings involving income, deductions, losses, health care provisions, and procedural matters and their relevance to tax planning and compliance due diligence.

Learning Objectives:
  • Identify tax planning and compliance points from key 2020 court cases, regulations and IRS rulings.
  • Explain 2020 rulings that represent new legal interpretations for individual taxation.
Speaker(s):
Category: Concurrent Session (Online)
Standard: $49.00

Multi-State Tax Implications - A Case Study

Nov 16, 2020 12:15pm ‐ Nov 16, 2020 1:05pm

Identification: NTA2007

Multi-state taxation is often complex, and the recent COVID crisis only exacerbated the problem. We will work through a case study example addressing the topics of nexus, sourcing, taxability, exposure identification and remediation. We will also address protections still available to taxpayers.

Learning Objectives:
  • Understand nexus concepts and how they are applied
  • Determine revenue sourcing methodologies
  • Assess options for remediation of tax exposure
  • Identify COVID related changes
  • Understand limitations on states’ authority to impose tax
Speaker(s):
Category: Concurrent Session (Online)
Standard: $49.00

Key Rulings 2020/Business Tax Update

Nov 16, 2020 1:35pm ‐ Nov 16, 2020 2:25pm

Identification: NTA2008

Beyond COVID-19 tax changes, there were numerous judicial rulings, regulations and IRS rulings in 2020 relevant to all types of businesses. This presentation covers these key rulings and regulations including those dealing with meals and entertainment, various types of business deductions, cannabis businesses, research credit and business entities. Ruling and regulation summaries will also emphasize the relevance to planning and compliance.

Learning Objectives:
  • Identify tax planning and compliance points from key 2020 court cases, regulations and IRS rulings.
  • Understand 2020 rulings that represent new legal interpretations for taxation of businesses and different types of business entities.
Speaker(s):
Category: Concurrent Session (Online)
Standard: $49.00

Data Privacy: Are You and Your Clients Really Safe?

Nov 16, 2020 1:35pm ‐ Nov 16, 2020 2:25pm

Identification: NTA2009

This session will:

1. Share insights on the impact of recent data privacy legislation on organizations and tax practitioners and filers and the benefits of using the AICPA's Privacy Management Framework and GDPR mapping tools within your own firms, and with your clients and their employees.

2. Provide guidance to tax practitioners and others engaged in tax compliance on appropriate data privacy strategies, approaches, and control practices 

3. Offer suggestions to members of the profession on the added benefits to be gained by practicing and calling out your organization's safe data handling, integrity checking, and protection capabilities, policies, and controls. 

Learning Objectives:
  • Understand how recently enacted legislation such as the EU's General Data Protection Regulation (GDPR) and recent US state laws impact tax practitioners and their clients
  • Learn about the AICPA's recently released Privacy Management Framework and its associated privacy criteria and the GDPR mapping tool and how these can be used to improve your and your clients organizations data privacy management practices and controls
Speaker(s):
Category: Concurrent Session (Online)
Standard: $49.00

Independent Contractor Versus Employee

Nov 16, 2020 1:35pm ‐ Nov 16, 2020 2:25pm

Identification: NTA2010

This topic will not go quietly. The GIG economy is of a particular concern. How many have begun their own businesses during the pandemic. Nexus is a concern.

How many are working from home for more than one source of income and will be considered having formed a new business. This session will discuss all these issues including retirement plans, some state and local tax issues and the home office deduction.

Statutory employee is back in the mix and will have to be discussed as part of this issue.

Section 199A and the availability of the 20% deduction.

All these items will be discussed and more.

Learning Objectives:
  • Understand where your taxpayer fits in this situation
  • Explore various reporting concerns.
Speaker(s):
Category: Concurrent Session (Onsite Only)
Standard: $49.00

Partnership Basis: Inside, Outside, and Everything in Between

Nov 16, 2020 2:35pm ‐ Nov 16, 2020 3:50pm

Identification: NTA2012

Basis plays a critical role in the timing and the amount of gain or loss that a partnership or its partners recognize in a variety of transactions. This session will provide an overview of the concepts and differences among inside basis, outside basis, and capital accounts. We will also highlight the effects on basis resulting from certain events, including contributions, distributions, and transfers of partnership interests. This session will also cover optional (or possibly required) adjustments to basis resulting from a Section 754 election as well as the new tax capital reporting requirements for partnerships.

Learning Objectives:
  • Distinguish between the components of inside basis, outside basis, and capital accounts and the purpose of each.
  • Identify events and transactions that require a partner to determine its outside basis.
  • Determine potential traps for the unwary with respect to basis adjustments arising due to a Section 754 election and the new tax capital reporting requirements.
Speaker(s):
Category: Concurrent Session (Online)
Standard: $49.00

Choice of Entity Myths: Reality vs Fantasy

Nov 16, 2020 4:20pm ‐ Nov 16, 2020 5:10pm

Identification: NTA2015

A 21% C corporation tax rate, together with Section 1202 capital gain exclusion, may be attractive, but is it the better deal? The consideration of entity choice for operations depends upon many factors, including shareholder marginal tax rate, expected exit strategy, health of the shareholder(s), and long-term expectations. Flexibility may be the most important factor. There is no overriding consideration that makes a particular entity type the obvious choice.

Learning Objectives:
  • Recognize key taxpayer attributes which may affect the recommendation of entity choice
  • Summarize the top effective tax rates of different entity types
  • Understand when single or double taxes may apply
Speaker(s):
Category: Concurrent Session (Online)
Standard: $49.00
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