About

The 60th Annual Taxation Conference covers the latest updates in tax regulation and policy, and features Marty McMahon and Ira Shepard reunited on Recent Developments in Federal Income Taxation, and Karen Hawkins, Director of the Office of Professional Responsibility, on Current Issues at the OPR.

Additional topics include: ethics and the tax practitioner, the CPA’s role in a criminal investigation, updates on margin tax and guidance on COGS from the Comptroller’s Office, penalties, foreign compliance issues, drafting and interpreting partnership distribution and allocation provisions, buy-sell agreement pitfalls and traps, federal tax income issues in acquisitions and dispositions of S Corps, and much more.

On Friday, Prof. Stanley Johanson presents his popular, one-day Estate Planning Workshop. Don’t miss lively discussion and practical advice and updates.

Register for the Taxation Conference and Estate Planning Workshop and save $50!

Event Schedule

  • Time
    Credit
    Subject
    Speaker
  • Wednesday Morning, Dec. 5, 2012
    Presiding Officer:
    Maxine Aaronson, Attorney at Law - Dallas, TX
  • 8:00 am
    Registration Opens

    Includes continental breakfast.
  • 8:35 am
    Welcoming Remarks

  • 8:45 am
    2.00 hrs
    Recent Developments in Federal Income Taxation

    Martin J. McMahon Jr., University of Florida, Fredric G. Levin College of Law - Gainesville, FL
    Ira B. Shepard, University of Houston Law Center - Houston, TX

    A discussion of the significant court decisions, rulings, and statutory and regulatory developments of the past twelve months.
  • 10:45 am
    Break

  • 11:00 am
    1.25 hrs ethics
    Penalties, More and More: How to Assess and Deal with Exposures and Seek Relief

    Moderator:
    Fred F. Murray, Grant Thornton LLP - Washington, DC
    Panelists:
    Deborah A. Butler, Internal Revenue Service - Washington, DC
    Panelists:
    Julian Kim, Ernst & Young LLP - Washington, DC
    Panelists:
    Christopher S. Rizek, Caplin & Drysdale - Washington, DC

    Penalties, including stricter liability penalties, have become ever more frequent and sizable. Advising clients with respect to their exposures, and how and when professional advice and other factors may be used in avoiding or, if necessary, defending them, is critical. Further, assessing the professional's own exposures and dealing with them in examinations and appeals has become a necessary practice skill. Every tax advisor at some point will be faced with a missed regulatory election, whether the client's or the advisor's own doing. This panel addresses practice issues related to penalties and issues relating to curing a late or missed regulatory election, with a focus on 9100 relief (both automatic and non-automatic) and the practical aspects of maximizing the success of a 9100 relief request.
  • 12:15 pm
    Break to Pick Up Lunch

    Included in conference registration fee.
  • Wednesday Afternoon, Dec. 5, 2012
    Presiding Officer:
    Michael L. Cook, Cook Brooks Johnson PLLC - Austin, TX
  • Luncheon Presentation

  • 12:30 pm
    0.75 hr ethics
    Current Issues at the Office of Professional Responsibility

    Karen L. Hawkins, Office of Professional Responsibility, Internal Revenue Service - Washington, DC

  • 1:15 pm
    Break

  • 1:30 pm
    1.25 hrs ethics
    How Far Can You Go? Real-Life Ethical Problems for Tax Practitioners

    Megan L. Brackney, Kostelanetz & Fink, LLP - New York, NY
    Karen L. Hawkins, Office of Professional Responsibility, Internal Revenue Service - Washington, DC
    Michael Todd Welty, SNR Denton - Dallas, TX

    A look at hypothetical situations, derived from real life, illustrating the ethical issues that arise for tax practitioners in advising clients, preparing returns and communicating with the Service.
  • 2:45 pm
    0.75 hr
    0.25 hr ethics
    Target, Subject or Witness? The CPA's Role in Criminal Tax Investigations

    Charles M. Meadows Jr., Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P. - Dallas, TX

    The CPA's role and responsibilities in criminal tax investigations can vary. This session discusses the CPA's responsibilities in preserving and producing documents, and the ethical duties in filing current, and perhaps amended, tax returns during the investigation and maintaining client confidences.
  • 3:30 pm
    Break

  • 3:45 pm
    1.00 hr
    Federal Income Tax Considerations in Acquisitions and Dispositions of S Corporations
    This session has moved to 4:45 p.m.

    Timothy J. Devetski, Vinson & Elkins LLP - Houston, TX
    Lina Ginan Dimachkieh, Vinson & Elkins LLP - Houston, TX

    This presentation addresses a number of federal income tax considerations arising from the acquisition or disposition of an S Corporation. Discussion includes the consequences of a termination of the company's S Corporation election as a result of the transaction, including the potential consequences under the built-in gain rules of Section 1374, and the effect of any Section 338(h)(10) election.
  • 4:45 pm
    1.00 hr
    Understanding How Different Allocation Methods Affect the Partners
    This session has moved to 3:45 p.m.

    Todd D. Golub, Ernst & Young LLP - Chicago, IL
    Bahar A. Schippel, Snell & Wilmer LLP - Phoenix, AZ

    Even well-drafted partnership agreements can be hard to interpret, requiring coordination between attorneys and accountants to ensure partners receive proper economics without unintended tax consequences. This panel provides practical pointers on drafting and interpreting partnership distribution and allocation provisions.
  • 5:45 pm
    Adjourn

  • Time
    Credit
    Subject
    Speaker
  • Thursday Morning, Dec. 6, 2012
    Presiding Officer:
    Christina A. Mondrik, Mondrik & Associates - Austin, TX
  • 8:00 am
    Conference Room Opens

    Includes continental breakfast.
  • 8:30 am
    1.00 hr
    Texas Franchise Tax: A Few Choice Issues

    Teresa Bostick, Texas Comptroller of Public Accounts - Austin, TX
    Cynthia M. Ohlenforst, K&L Gates LLP - Dallas, TX

    Five years after its effective date, the revised franchise tax—aka the margin tax—continues to raise unanswered questions. Fortunately, there are also new answers and interpretations. This presentation covers some of the choices taxpayers must make in computing their franchise tax, updates on the ongoing debate over the scope of the cost of goods sold deduction, the Comptroller's 2012 policy change regarding taxpayers' ability to change their election to deduct cost of goods sold or compensation on an amended report, and other hot topics in the franchise tax world.
  • 9:30 am
    1.00 hr
    0.25 hr ethics
    U.S. Federal Income Tax Compliance Issues in Foreign-Related Transactions

    William H. Hornberger, Jackson Walker L.L.P. - Dallas, TX

    Proper tax reporting of foreign-related transactions is critical for avoiding the imposition of penalties. This session reviews the compliance requirements in the context of foreign-related transactions including Forms 5471, TD F 90-22.1, 8938 and 3520, and addresses the professional advisor's responsibility for alerting clients to applicable reporting requirements in foreign-related transactions.
  • 10:30 am
    Break

  • 10:45 am
    1.00 hr
    Negotiating and Drafting Separation and Severance Agreements

    Greta E. Cowart, Haynes and Boone, LLP - Dallas, TX

    A review of the implications of IRS Section 409A and Texas law regarding noncompetes, including a review of common mistakes and ways to structure such agreements to avoid tax penalties while still permitting the use of releases compliant with employment law requirements. Common traps for the unwary in drafting separation agreements are considered along with ways to address common issues faced in severance and separation agreements.
  • 11:45 am
    Break to Pick Up Lunch

    Included in conference registration fee.
  • Thursday Afternoon, Dec. 6, 2012
    Presiding Officer:
    Joe Hull, Bracewell & Giuliani LLP - Austin, TX
  • Luncheon Presentation

  • 12:00 pm
    1.00 hr
    The Better Base Case for Tax Reform

    Edward Kleinbard, USC Gould School of Law - Los Angeles, CA

  • 1:00 pm
    Break

  • 1:15 pm
    1.00 hr
    Selected Transactional Issues in Oil and Gas Taxation

    Roger D. Aksamit, Thompson & Knight - Houston, TX

    The various rules relating to the federal taxation of oil and gas property and transactions are reviewed in the context of the typical fact pattern found in the acquisition, development and disposition of oil and gas assets in the current transactional environment. Discussion covers the perspectives of all parties normally involved including the lessor, lessee, investor, promoter and employee. Also included is helpful advice and insight into issues and problems commonly encountered in this area.
  • 2:15 pm
    Break

  • 2:30 pm
    1.00 hr
    An Odyssey in Health Reform: Navigating Employers between Scylla and Charybdis

    T. David Cowart, SNR Denton - Dallas, TX

    An overview of the important things employers need to know to comply with the Affordable Care Act, including updates concerning the Act's implementation.
  • 3:30 pm
    1.00 hr
    Avoiding Pitfalls in Buy-Sell Agreements

    Nancy Schmidt Roush, Lathrop & Gage LLP - Kansas City, MO

    An analysis of buy-sell agreements that are commonly overlooked or not understood, including issues relating to life insurance ownership and allocation of book income, unique issues for S Corporations, complications in use of tag-along and drag-along rights, impact of an owner filing bankruptcy, and alternative ways to structure the buy-out price.
  • 4:30 pm
    Adjourn

Conference Faculty

Roger D. Aksamit

Thompson & Knight
Houston, TX

Teresa Bostick

Texas Comptroller of Public Accounts
Austin, TX

Megan L. Brackney

Kostelanetz & Fink, LLP
New York, NY

Deborah A. Butler

Internal Revenue Service
Washington, DC

Greta E. Cowart

Haynes and Boone, LLP
Dallas, TX

T. David Cowart

SNR Denton
Dallas, TX

Timothy J. Devetski

Vinson & Elkins LLP
Houston, TX

Lina Ginan Dimachkieh

Vinson & Elkins LLP
Houston, TX

Todd D. Golub

Ernst & Young LLP
Chicago, IL

Karen L. Hawkins

Office of Professional Responsibility, Internal Revenue Service
Washington, DC

William H. Hornberger

Jackson Walker L.L.P.
Dallas, TX

Julian Kim

Ernst & Young LLP
Washington, DC

Edward Kleinbard

USC Gould School of Law
Los Angeles, CA

Martin J. McMahon Jr.

University of Florida, Fredric G. Levin College of Law
Gainesville, FL

Charles M. Meadows Jr.

Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P.
Dallas, TX

Fred F. Murray

Grant Thornton LLP
Washington, DC

Cynthia M. Ohlenforst

K&L Gates LLP
Dallas, TX

Christopher S. Rizek

Caplin & Drysdale
Washington, DC

Nancy Schmidt Roush

Lathrop & Gage LLP
Kansas City, MO

Bahar A. Schippel

Snell & Wilmer LLP
Phoenix, AZ

Ira B. Shepard

University of Houston Law Center
Houston, TX

Michael Todd Welty

SNR Denton
Dallas, TX

Planning Committee

Maxine Aaronson—Chair

Attorney at Law
Dallas, TX

Stanley M. Johanson—Chair

The University of Texas School of Law
Austin, TX

R. Gordon Appleman

Thompson & Knight LLP
Fort Worth, TX

Mark L. Ascher

The University of Texas School of Law
Austin, TX

Stanley L. Blend

Strasburger and Price, LLP
San Antonio, TX

Michael L. Cook

Cook Brooks Johnson PLLC
Austin, TX

Mickey R. Davis

Davis & Willms, PLLC
Houston, TX

Dennis B. Drapkin

Dallas, TX

Lawrence B. Gibbs

Miller & Chevalier Chartered
Washington, DC

Joe Hull

Bracewell & Giuliani LLP
Austin, TX

Richard A. Husseini

Baker Botts L.L.P.
Houston, TX

Donald O. Jansen

The University of Texas System
Austin, TX

Calvin H. Johnson

The University of Texas School of Law
Austin, TX

James F. Martens

Martens, Todd & Leonard
Austin, TX

Christina A. Mondrik

Mondrik & Associates
Austin, TX

Patrick Lewis O'Daniel

Fulbright & Jaworski L.L.P.
Austin, TX

T. Charles Parr III

Parr & Associates
San Antonio, TX

Catherine C. Scheid

Attorney at Law
Houston, TX

Jasper G. Taylor III

Fulbright & Jaworski L.L.P.
Houston, TX

Kelli H. Todd

Martens, Todd & Leonard
Austin, TX

Bret Wells

University of Houston Law Center
Houston, TX

R. David Wheat

Thompson & Knight LLP
Dallas, TX

Credit Info

MCLE Credit
A Texas MCLE Reporting Form will be included in your course materials. Please complete and return to the registration desk and UT Law CLE will report credit on your behalf to the State Bar of Texas, or you can self-report your credit directly to the State Bar of Texas at texasbar.com. A Certificate of Attendance will be provided at the conference to keep for your records.  
At the conference, you will need to sign in on the Record of Attendance form at the registration desk. Self-report your CLE credit directly to the State Bar of California at calbar.ca.gov. You will receive a Certificate of Attendance at the conference to keep for your records. UT Law CLE will maintain Attendance Records for four years.  
Note on Self-Reporting Your Credits in Another State
If you wish to satisfy MCLE or other professional education requirements in another state for a program offered by the University of Texas School of Law, please check with the state bar or other licensing authority in that state before taking the program to ensure it will qualify for self-reporting your credits.
Other Credit
The University of Texas School of Law (Provider #250) live conferences are presumptively approved by The Texas State Board of Public Accountancy for Texas Accounting CPE credit based on a 50-minute credit hour. Approved for general CPE credit only.

At the conference, you will need to sign in on the Accounting CPE Record of Attendance form at the registration desk. You will receive a Texas Accounting Certificate of Completion at the conference for your records. Self-report your CPE credit directly to TSBPA. UT Law CLE will maintain Attendance Records for four years.  

Contact Laura Tolin, ltolin@law.utexas.edu, if you have additional questions.

Key Dates

Austin – Dec 5-6, 2012 – AT&T Conference Center
Conference Concluded
Buy
Austin
Last day for Standard Registration early registration: Nov 30, 2012

Add $50 for registrations received after this time

Last day for Green Registration - USB Key ONLY early registration: Nov 30, 2012

Add $50 for registrations received after this time

Last day for cancellation (full refund): Nov 30, 2012
Last day for cancellation (partial refund): Dec 3, 2012

$50 processing fee applied

Venue

speaker

The University of Texas at Austin
1900 University Avenue
Austin, TX
877.744.8822 (reservations)
Map

Accommodations

$174.00 good through Nov 3, 2012

Parking Information

Free daily self-parking at UT garages. Separate fees apply for valet and overnight parking.

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