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AICPA National Conference on Banks & Savings Institutions 2020

BAN2014 - Tax Changes and Planning Opportunities Brought About by the COVID-19 Fallout

Sep 15, 2020 4:00pm ‐ Sep 15, 2020 5:15pm

Standard: $49.00


This session will provide attendees with an overview of COVID-19 tax developments impacting the financial services industry and will be presented in terms that the non-tax-professional can understand. Topics to be discussed include a summary of the CARES Act tax provisions, including tax planning strategies resulting from its enactment, an analysis of the GAAP and regulatory impact of these tax law changes and a summary of significant industry issues, including the impact of certain acquisition structures on the tax-exempt status of bank-owned life insurance (“BOLI”).

Learning Objectives:
  • Recognize how recent CARES Act tax law changes impact the financial services industry
  • Identify potential CARES Act tax planning opportunities that can add to the bank’s bottom line
  • Discover which common bank acquisition structures may negatively impact the tax-exempt status of acquired BOLI policies and identify potential structural planning alternatives that may avoid these concerns


Tags: All Banks
Category: Concurrent Session (Online)

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