OFFICIAL SCHEDULE
June 15, 16, & 17, 2011

  
WEDNESDAY, June 15, 2011
 
7:30 a.m. to 8:30 a.m. REGISTRATION
 
8:30 a.m. - 10:00 a.m. Federal Income Tax Developments - Federal Income Tax Developments - A review of significant administrative and judicial developments over the past twelve months and the status of congressional tax proposals. Ira B. Shepard
 
10:15 a.m. - 11:45 a.m. Employee or Independent Contractor? It's Not the Same Old Song - From small businesses to public companies, the difficulty of distinguishing independent contractors from employees remains a serious problem. This presentation addresses problems in determining, choosing and defending worker classification in light of the IRS national program examining employment tax issues; settlement initiatives by the IRS; the differences among tax, labor and state unemployment laws; and other recent developments. Larry A. Campagna
 
1:00 p.m. - 2:30 p.m. Federal Tax Controversy Update - What penalty/reasonable cause, procedural, limitations, burden of proof, expert and similar concepts do the recent cases and pronouncements tell us that we need to consider in defending our clients? This session will focus upon a touch of strategy stirred into those authorities and opportunities. David D. Aughtry
 
2:45 p.m. - 4:00 p.m. What Employers Must Know About Health Care Reform - Goals & major components of health care reform; timeline for implementation of provisions; overview of changes impacting the employer-based health plan system & individuals. New W-2 reporting & disclosure obligations; new 1099 requirements (unless repealed); new federal long term care benefit; revenue raising provisions. Alson R. Martin
 
4:15 p.m. - 5:30 p.m. Businesses and State Revenue Departments: Where the Battles Are in 2011 - In this session, the panel takes on some of the matters causing the most contentious exchanges between corporate taxpayers and state departments of revenue, including forced combination, economic substance, digital goods and services transactions, employment of alternative apportionment formulas, penalties, retroactive tax/refund measures, and more. Cass D. Vickers,
Michael T. Petrik,
Joe W. Garrett,
Bruce P. Ely, Moderator
 
THURSDAY, June 16, 2011
 
8:30 a.m. - 10:00 a.m. Recent Developments in Estate and Gift Taxation: Will the Madness Ever Cease? - This will be a review of recent changes in the law, cases, and regulatory developments in the estate, gift, and generation-skipping tax areas. Among the areas to be covered are the marital deduction, gifts, the use of family limited partnerships and limited liability companies, valuation, charitable giving, generation-skipping tax, asset protection, fiduciary liability, estate administration, fiduciary income tax, and insurance. The goal is for the attendees to understand how these developments may affect their practices and the opportunities and pitfalls that they create. Charles D. (Skip) Fox, IV
 
10:15 a.m. - 11:45 a.m. Some of the Best Estate Planning Ideas We See Out There (That Also Have the Merit of Playing Havoc with Certain "Conventional Wisdom") - Mr. Eastland will discuss investment reasons why the passive investor may wish to utilize family limited partnerships; the use of private derivatives to shift wealth; the advantages of selling a family limited partnership interest to a grantor trust; defined value formula clauses; the possible use of a leveraged GRAT to facilitate GST planning; post-mortem planning with a note freeze partnership; the use of family limited partnerships and charitable remainder trusts; the leveraged buy-out charitable lead annuity trust; the leveraged reverse freeze family limited partnership; and the best ideas for allowing a client to be in control of a family limited partnership. S. Stacy Eastland
 
11:45 a.m. - 1:15 p.m. Luncheon Provided by AIFT by reservation only (Qualifies for One (1) Ethics Credit.)
A Panel Discussion of the Tangle of Regulations faced by Return Preparers - including: penalties for understatements, aiding and abetting, improperly negotiating checks, improper disclosure of taxpayer information, failures to sign, show PTIN, furnish copies to taxpayers, retain a copy, follow due diligence requirements with regard to EITC and maintain reports; obligations to report currency transactions and to affirmatively advise clients to file FBAR; requirements for material advisors to disclose and maintain lists of reportable transactions; and the rules for practice under Circular 230. 		Panel Discussion by
David M. Wooldridge and
Stuart J. Frentz
 
1:15 p.m. - 2:45 p.m. Portability vs. Credit Shelter Trust; Supercharged Credit Shelter Trusts; and Carryover Basis for 2010 Decedents - This presentation will consider the use of credit shelter trusts in lieu of relying on the new portability provisions; the advantages of using a supercharged credit shelter trust to enhance the estate tax exemption; and the considerations and complications with carryover basis for 2010 decedents. Jonathan G. Blattmachr
 
3:00 p.m. - 4:15 p.m. IRAs, Roths and Whatever Else Comes to Mind - This presentation on inherited IRAs and creditor rights with particular attention to whether such accounts are exempt in bankruptcy; Roth IRAs, conversions and recharacterizations; Roth accounts and other developments with IRAs and retirement planning. Alvin J. Golden
 
4:30 p.m. - 5:45 p.m. Update on Charitable Tax Planning - This presentation will address trends in charitable tax planning, including a review of charitable lead trusts and other split-interest arrangements. Martin Hall
 
FRIDAY, June 17, 2011
 
8:30 a.m. - 10:00 a.m. Passing Through the Obstacles of Pass-Through Entities - This session will discuss several of the potential opportunities and pitfalls in advising clients with closely-held businesses conducted as S corporations, partnerships, and limited liability companies, with special emphasis on those situations where entity income can be subject either to double taxation or premature taxation. Samuel A. Donaldson
 
10:15 a.m. - 12:00 a.m. Why it Pays to be Proactive in Correcting Failures in Qualified Plans - Retirement plans are complex and can easily fall out of compliance. The consequences of non-compliance can result in significant adverse tax consequences including loss of favorable tax treatment, immediate taxation and payment of significant non-deductible fines. The presentation will discuss methods to identify and correct plan failures using the IRS' Employee Plans Compliance Resolution System. The presentation will discuss which types of failures can be self corrected and when correction must be made; what types of failures can only be corrected through application to the IRS and how use of the IRS process can actually save your client money. Finally, we will discuss ways to negotiate the payment of lesser fines when the IRS discovers plan failures on audit. Pamela D. Purdue
 
 
 
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