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OFFICIAL SCHEDULE
June 23, 24 & 25, 2010 |
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| Wednesday, June 23, 2010 |
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| 7:30 a.m. to 8:30 a.m. |
REGISTRATION |
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| 8:30 a.m. - 10:00 a.m. |
Estate Tax Uncertainty in 2010, 2011 and Beyond - The suspension of the federal estate and GST taxes in 2010 and their resuscitation in 2011, subject to congressional intervention at any time, raise challenging and wide-reaching questions at every turn. This presentation will examine how we got to this point, the prospects for legislation that will answer our questions, and the effects on our practices and clients. The discussion will address “actions to take,” and the priority, recommended form, and possible benefits and risks of those actions.
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Ronald D. Aucutt |
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| 10:15 a.m. - 11:45 a.m. |
Recent Developments in Estate and Gift Taxation--Are We Still Unsure of the Rules? - This will be a review of recent legislation, cases, and regulatory developments. Among the topics to be addressed are the current status of repeal of the estate and generation-skipping taxes, the prospect of future legislation, the marital deduction, gifts, valuation including llc's and flp's, the generation-skipping tax, asset protection, fiduciary income tax, and insurance.
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Charles D. "Skip" Fox, IV |
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| 1:00 p.m. - 2:30 p.m. |
Mending Wayward Wealth Transfer Strategies - GRATs and installment sales often transfer wealth in a tax-efficient manner. Sometimes, they may not yield the expected results. Unsuccessful economic performance, changes in circumstances, or drafting errors - these events may require an “exit” strategy. This presentation discusses various exit strategies and planning for an exit strategy before problems arise.
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John F. Bergner |
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| 2:45 p.m. - 4:15 p.m. |
Asset Protection - This presentation will examine the techniques and legal strategies utilized to obtain maximum wealth protection, including exemption planning, limited liability entities, third party trusts and self-settled trusts (domestic and offshore). The discussion will include the income, estate and tax consequences of utilizing such strategies.
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Duncan E. Osborne |
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| 4:30 p.m. - 5:45 p.m. |
Practical Strategies for Complying with the Revised Tax Preparer Penalty Statute - Something Every Tax Professional Must Know - (Qualifies for Ethics Credit). The revised tax preparer penalty provisions are very broad (including income, estate and gift tax returns as well as certain information returns) and should be a concern for any person providing advice that will impact a tax return. The discussion will discuss the changes to § 6694, interim guidance and application of the new standards to tax advisors and tax return preparers alike.
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Professor Raymond Placid |
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| Thursday, June 24, 2010 |
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| 8:30 a.m. - 10:00 a.m. |
Recent Federal Income Tax Developments - A review of significant administrative and judicial developments over the past twelve months, and the status of legislative tax proposals. |
Professor Ira B. Shepard |
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| 10:15 a.m. - 11:45 a.m. |
Lessons from the High Country: Does Colorado’s Conservation Easement Experience Inform the Future? - As of December, 2009, the IRS was examining 344 taxpayers nationwide for charitable donations of conservation easements; 84 of these, or 25%, were in Colorado. This presentation will describe how and why this mess came to be, and the steps that have been taken by practitioners, charitable organizations, and state government to address it. Other topics of interest to appraisers, landowner advisors and landowners will be covered, including identification of potential red flags, what to look for (and what you hope not to see) in a qualified appraisal, and what kinds of unreasonable positions might be expected from the government during initial phases of an examination.
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Mark S. Weston |
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| 11:45 a.m. - 1:00 p.m. |
Luncheon (by reservation only) - The Alabama Business Climate Today and Prospects for the Next Decade.
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Craig S. Ey |
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| 1:00 p.m. - 2:30 p.m. |
Things Change - The Evolving Nature of Partnership Workouts - In these difficult economic times, debt workouts for partnerships are common. The business practices and tax rules relating to these transactions are constantly evolving. This presentation will focus on the tools that practitioners need in evaluating these transactions, with a particular emphasis on recent developments, including the enactment of, and follow-on guidance relating to, section 108(i).
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James B. Sowell |
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| 2:45 p.m. - 4:15 p.m. |
Current Trends in Designing Qualified Plans for Closely Held and Family Businesse - Qualified Plans are one of the best tax planning tools available to owners of Closely Held and Family Businesses. But these plans are complex and can be costly to run and administer. Closely held businesses also have an array of rules to follow that are designed to prevent the abuse of the tax benefits in a way that discriminates in favor of owners and other highly compensated individuals. But a certain amount of favoritism is allowed. Mr. Zwick will explore interesting and innovative designs of qualified plans for closely held and family businesses, current trends at IRS and the costs and benefits of doing more than the plain vanilla plan design.
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Gary A. Zwick |
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| 4:30 p.m. - 5:30 p.m. |
Recent Developments in Alabama Taxation: Judicial, Legislative and Administrative - This panel will provide an overview—perhaps with slightly different perspectives—of recent state tax cases, ADOR regulations and rulings, and new tax legislation affecting business taxpayers and tax practitioners in Alabama, with some overarching comments and unofficial predictions from the Commissioner of Revenue.
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Tim Russell,Joe W. Garrett, Jr.
andBruce P. Ely |
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| Friday, June 25, 2010 |
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| 8:30 a.m. - 10:00 a.m. |
Choice of Business Entity-2010 Update: Choosing the Right Business Form in Uncertain Times - The authors of the leading treatise on Choice of Business Entity (Thomson-West 4th ed.) will offer a practical guide, from both a tax and non-tax perspective, to determining the form and structure of a business organization in these troubled economic times. The discussion will include advice not only on selecting the appropriate form of business organization but circumstances in which changing the form of an existing entity may provide tax or business benefits.
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Robert R. Keatinge and
Professor Anne E. Conaway |
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| 10:15 a.m. - 12:00 a.m. |
Renewal Energy Tax Incentives - This presentation will provide an overview of tax benefits available for renewable energy projects, including tax credits and grants. There will be a technical discussion of how these benefits can be used as a means of capital finance, traps, tax treatments and impacts of the various types of energy incentives, and other practical business considerations. The presentation will also survey the various forms and combinations of benefits including a discussion of specific transaction structures which enable successful financing of renewable energy projects.
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Lee J. Peterson |
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