Thursday, November 4, 2010
8:30 AM–9:20 AM New IRS Rules for Preparers
Brian Yacker, CPA, Esq.,Windes & McClaughry
This session will include a review of the new provisions contained in Circular 230 after the recent substantial revisions were made, focusing on those Circular 230 provisions which address registered return preparers. A review of other important provisions on Circular 230 (for example, 10.22/10.34) will also be covered. Additionally, some presentation time will be spent reviewing current trends and hot topics related to the Office of Professional Responsibility.
9:20 AM–11:00 AM 2010 IRS Representation Update
Robert E. McKenzie, Esq., former Revenue Officer, Internal Revenue Service, Collection Division; Partner, Arnstein & Lehr LLP
Over the past several years the IRS has dramatically increased its enforcement efforts. During fiscal 2009 we saw increased hiring of IRS enforcement personnel. This class will discuss the methods the IRS is using in this new enforcement environment and share practical tips for real cases in Appeals, Collection and Examination.
11:10 AM–12:00 NOON Peer Review Evaluation of Candidates for the Federal Bench
Richard J. Gray, Partner, Jenner & Block LLP
Since the Eisenhower Administration, the American Bar Association's Standing Committee on the Federal Judiciary has conducted an independent peer review of each candidate for the federal bench. A former member of the SCFJ will explain how the Committee functions in conducting its confidential evaluation of a candidate's integrity, professional competence and judicial temperament.
Friday, November 5, 2010
8:15 AM–9:30 AM Federal Tax Update
David S. De Jong, Esq., CPA, Stein, Sperling, Bennett, De Jong, Driscoll & Greenfeig, P.C.
This program will review major tax legislation, regulations, cases and rulings during the preceding year. These developments affect taxation of individuals, businesses, retirement plans and estates. Procedural changes in the federal taxation process will be covered along with
substantive issues.
9:35 AM–11:15 AM Tax Planning for Separation and Divorce (Teaming the Financial and Matrimonial Professionals)
Judith Gabeau, Esq., CPA, The Gabeau Group LTD
Hadrian N. Hatfield, Esq., Shulman Rogers Gandal Pordy & Ecker, P.A.
Carlton R. Marcyan, Esq., CPA, CFP, Schiller DuCanto & Fleck LLP
Alan S. Zipp, Esq., CPA
Moderator: David S. De Jong, Esq., CPA, Stein, Sperling, Bennett, De Jong, Driscoll & Greenfeig, P.C.
Can a separation agreement be drafted “win–win”? How can the financial and matrimonial professionals work in tandem? In these contexts, a panel of tax and family law professionals will review the most important tax issues affecting marital termination and applicable law. Topics to be covered include alimony/child support, property settlements, filing status, and dependency allowances. The focus will be on recurring issues such as dividing retirement plans, nonqualified deferred compensation, jointly owned businesses, and built-in gain, as well as handling outstanding and contingent tax liabilities.
11:20 AM–12:35 PM A discussion with former Assistant Secretary of Treasury for Tax Policy
Greg Jenner, Esq., former Assistant Secretary of the Treasury for Tax Policy; Partner, Stoel Rives LLP
Be a part of the discussion lead by the vantage point of someone who was part of the decision process on where we are going with the current administration. Get a better understanding from a macro and practical standpoint as to how tax policy comes together. For example, with the nearing of the expiration of the Bush tax cuts as well as the lapse of the estate tax, what is the plan for the future? How does the administration bring it all together? How does Congress, the IRS and other stakeholders come together in that process?
1:30 PM–2:45 PM What’s New for Federal Tax Return Preparers
David Williams, Executive Lead for Return Preparer Regulations Implementation, Internal Revenue Service
With more than 80 percent of American households using a tax preparer or tax software to help them prepare and file their taxes, the IRS is implementing increased oversight of federal tax return preparers. The changes apply to all preparers who prepare all or substantially all of any federal tax return or claim for refund. Learn more details about these changes and how to be
prepared.
2:45 PM–3:35 PM How to Ready a Business for Sale at a Maximum Price
Greg Caruso, Esq., CPA, Harvest Associates
Learn how to help your clients ready a business or professional practice for the marketplace. The session will focus on the steps to be taken in the months and years leading up to sale that will increase marketability and enhance purchase price.
CONCURRENT SESSION
3:45 PM–5:50 PM Estate & Business Succession Planning Panel
Steven Gorin, Esq., CPA, Thompson Coburn, LLP
Domenick R. Lioce, Esq., CPA, Nason, Yeager, Gerson, White & Lioce, P.A.
Roy Meyers, ASA, CFA, Management Planning Inc.
Moderator: David S. De Jong, Esq., CPA, Stein, Sperling, Bennett, De Jong, Driscoll & Greenfeig, P.C.
In response to the vast number of “Baby Boomers” who are now approaching retirement age and who have developed a successful business, this program is designed to discuss the various tax and planning implications/ways for a tax planning practitioner to assist a client in successfully transferring a business upon retirement. The topics will include the standard sale and bequest type transactions and the more exotic planning opportunities of ESOPs and captive insurance companies.
CONCURRENT SESSION
3:45 PM–5:25 PM Accounting Standards
• QUALIFIES FOR A&A HOURS •
Philip J. Santarelli, Chief Risk Officer, ParenteBeard LLC
This program will provide an overview of convergence of the U.S. GAAP and IFRS, and will discuss standards setting activity expected in 2010, lease accounting, financial statement presentation, revenue recognition, and accounting for financial instruments, financial instruments with characteristics of equity, and reporting for discontinued operations.
Saturday, November 6, 2010
8:30 AM–10:10 AM Audit Standards
• QUALIFIES FOR A&A HOURS •
Philip J. Santarelli, Chief Risk Officer, ParenteBeard LLC
This program will will present an overview of recent standard setting activity of the Auditing Standards Board (“ASB”) and the Accounting and Review Services Committee (“ARSC”). This will include a discussion of the ASB’s convergence with international auditing standards and its clarity project, providing information on the new standards that are likely to affect existing practice related to audits, attestation engagements, compilations and reviews.
Meet Your Faculty
Greg Caruso, Esq., CPA, Harvest Associates
For more than 25 years, Greg Caruso has been obtaining outstanding profits for his clients through strategic planning and salesmanship as Principal, as Broker, and as counsel. Caruso’s depth and diversity of experience and his professional credentials give him a comprehensive perspective that adds value to each of his transactions. Caruso is an Attorney, CPA, and Real Estate Broker licensed in Maryland, Certified Valuation Analyst, and a prior Real Estate Developer and Builder. Caruso practiced law as a transactional attorney and owned a title and settlement company. He practiced business and real estate law, advising many business clients and preparing real estate and business documents, and conducting real estate and business closings. Caruso founded, co-owned, and operated a substantial real estate building and development company that delivered 70 homes per year. He worked in all areas and levels of the business including sales, finance (having raised substantial equity and debt financing), accounting, and was in charge of legal review and oversight. Prior to that, Caruso worked as a construction project manager on major apartment and office projects. Caruso is an expert in exit strategies, family transition issues, and mergers and acquisitions. He actively speaks and writes on these topics having been quoted or authored pieces in the LA Times, Inc. Magazine, Baltimore Business Journal, and other publications.
David S. De Jong, Esq., CPA, Principal, Stein, Sperling, Bennett, De Jong, Driscoll & Greenfeig, P.C.
David De Jong practices law with the Rockville, Maryland, firm of Stein, Sperling, Bennett, De Jong, Driscoll & Greenfeig, PC, concentrating on tax planning and controversy, estate planning, and business. An adjunct professor for 25 years at four universities, he coauthored J. K. Lasser’s annual tax planning book for 16 years. De Jong has litigated cases in each federal tax forum and in the Maryland Tax Court, and has testified as an expert witness over 35 times in court, arbitrations and disciplinary proceedings. A Past President of the AAA-CPA, he was listed as one of the Top 100 Attorneys in the United States by Worth magazine in 2006, one of the Top 50 IRS Representation Practitioners in the United States by CPA Magazine in 2008, and one of the Top 40 Tax Advisors in the United States by the same publication in 2009. He has won accolades from Washingtonian; Washington Smart CEO; Washington, DC, Super Lawyers (Top 100); and Maryland Super Lawyers (Top 50). De Jong holds the highest ratings from Martindale-Hubbell (5.0) and Avvo (10.0). He received his BA from the University of Maryland in 1972, his JD from Washington and Lee University in 1975, and his LLM in Taxation from Georgetown University in 1979.
Judith Gabeau, Esq., CPA , Founder, The Gabeau Group
Judith Gabeau, founder of The Gabeau Group, Ltd., is both an attorney and a certified public accountant. Her focus is on solving the legal problems of small and medium-sized businesses, as well as high net worth individuals. Gabeau’s clients include many clients of LaSalle Bank, physicians and other medical professionals, and a variety of sole practitioners and corporations.
Richard J. Gray, Partner, Jenner & Block LLP
Richard J. Gray is a partner in Jenner & Block’s Litigation Department where he concentrates in complex civil litigation focusing on intellectual property/technology, antitrust, class actions and insurance coverage. Gray is AV Peer Review Rated, Martindale-Hubbell's highest peer recognition for ethical standards and legal ability. He recently was named an Illinois “Super Lawyer” in the field of Intellectual Property Litigation by Law & Politics. This peer review based program provides a guide to the top 5 percent of attorneys in the state. Lawdragon Magazine recognized him as one of the "3000 Leading Lawyers in America."
Gray served as the Seventh Circuit representative on the American Bar Association's Standing Committee on Federal Judiciary which evaluates federal judicial nominees. He recently completed a three-year term on the ABA’s Legal Opportunity Scholarship Committee, which is responsible for selecting disadvantaged law students who will receive a scholarship. He also served on the ABA President’s Advisory Committee on Diversity in the Profession, served as Co-Chair of the Section of Litigation's Diversity Plan Implementation Committee and served as Co-Chair of the Section's Judicial Intern Opportunity Program.
Gray graduated from the University of Michigan magna cum laude, Phi Beta Kappa, Pi Sigma Alpha in 1971. He received his J.D. from the University of Michigan Law School in 1974 where he was a member and editor of the Journal of Law Reform. Mr. Gray joined the Firm in 1974 and became a partner in 1981. He is a member of the bar of the United States Supreme Court, the Illinois and Colorado bars, and the bars of numerous federal courts, including the Trial Bar of the United States District Court for the Northern District of Illinois.
Steven B. Gorin, Esq., CPA, Partner, Thompson Coburn LLP
Steven Gorin combines eight years of experience providing tax and financial advice as a CPA with
his current law practice that includes estate planning, transferring businesses to family members or key employees, drafting LLC operating agreements, corporate shareholder agreements, and partnership agreements, and helping clients get into more income-tax efficient business structures. He serves on the Business Planning Committee of the American College of Trust & Estate Counsel and is a past chair of not only the Business Planning Group of the American Bar Association’s Real Property, Trust & Estate Law Section but also the Business Law Section of the Bar Association of Metropolitan St. Louis.
Hadrian N. Hatfield, Esq., Of Counsel, Shulman Rogers Gandal Pordy & Ecker, P.A.
Washingtonian Magazine, Super Lawyers, and Best Lawyers have recognized Hadrian Hatfield
repeatedly as among the Maryland and District of Columbia top family law practitioners. Hatfield has
written articles for publication on a variety of family law topics including international aspects
of divorce. He is a founding member of the Collaborative Divorce Association, Inc. in Montgomery County, MD. An active member of the American Bar Association, Family Law Section, Hatfield co-chaired the International Law Committee in 2004 and organized and presented continuing legal education seminars on a variety of topics to a national audience of family law attorneys. He regularly teaches continuing legal education programs for the Maryland State, District of Columbia, and Montgomery County Bar Associations. Hatfield participates in the District of Columbia Bar Family Law Section and Maryland State Bar Association (MSBA), and currently serves on the Family and Juvenile Law Section Council.
Greg Jenner, Esq., former Assistant Secretary of the Treasury for Tax Policy;
Partner, Stoel Rives LLP
Gregory F. Jenner has broad experience in virtually all Federal tax matters, with particular focus on
planning and implementing complex tax-related transactions, partnerships and joint ventures, and
mergers and acquisitions. He has worked extensively on energy-and insurance-related tax issues, and has successfully represented taxpayers in Federal and state tax controversies, in both audit and litigation. Jenner has been active for many years in the Federal tax policy process, working closely with senior policy makers in Congress, the Treasury Department, and the Internal Revenue Service. Prior to joining Stoel Rives, Jenner was an attorney and consultant in Washington, DC. He served as Executive Vice President, Taxes and Retirement Security, for the American Council of Life Insurers, the Acting Assistant Secretary of the Treasury for Tax Policy and was nominated by President George W. Bush to be Assistant Secretary. Prior to his elevation to Acting Assistant Secretary, Jenner served as Deputy Assistant Secretary for Tax Policy. As the Acting Assistant Secretary, Jenner directed the Treasury’s Office of Tax Policy, which is responsible for providing the Administration with policy analysis, advice and recommendations relating to all aspects of domestic and international issues of Federal taxation, including all legislative proposals, regulatory guidance, and tax treaties. The Office of Tax Policy is also responsible for providing the official estimates of all Federal Government receipts for the President’s budget, fiscal policy decisions, and Treasury cash management decisions. He also served as Tax Counsel for the U.S. Senate Committee on Finance from 1985 through 1989, where he helped write the Tax Reform Act of 1986.
Domineck R. Lioce, Esq., CPA, Partner, Nason, Yeager, Gerson, White & Lioce, P.A.
A certified public accountant in Florida since 1976, Domineck Lioce was admitted to the bar in Florida in 1979 (U.S. District Court, U.S. Tax Court, U.S. Court of Appeals, 11th Circuit), after receiving his undergraduate, graduate, and legal education at Florida State University (BS,1973; MA, 1978; JD, 1979). He is a member of the Florida Institute of Certified Public Accountants; American Bar Association: Member of the Tax Section; Florida Bar Association: Member of the Tax Section, Member of the Tax Section Board of Directors, Member of the Executive Council, and Chairman of the Tax Sponsors Committee and Co-chairman of the Finance Committee and the Long-Range Planning Committee; Member and Vice Chairman of the Business Law Section Bar/FICPA Liaison Committee; Member of the Drafting Committee of the New Florida Revised Limited Liability Company Act; Former Member of the Drafting Committee of the Florida Revised Limited Partnership Act and the Florida Revised Partnership Act; American Association of Attorney-CPAs, Executive Vice- President of the Florida Chapter, Member of the National Board of Directors and Executive Committee, Assistant Secretary; Member and Director of the National Continuing Education Committee and Chairman of the National Sponsors Committee; Director and Past President of Palm Beach Tax Institute; Member and past Board Member of Florida State Alumni Association; past Chairman of Forum Club of the Palm Beaches. He has authored numerous articles and is also a frequent lecturer.
Carlton R. Marcyan, Esq., CPA, CFP, Partner, Executive Committee Chairman, Schiller DuCanto & Fleck LLP
Carlton Marcyan has in-depth experience in financial discovery, analysis and litigation. Prior to joining Schiller DuCanto and Fleck LLP, he worked for one of the largest international accounting firms and the Internal Revenue Service. He is an experienced trial lawyer primarily focused on complex financial litigation. Marcyan is a guest lecturer on law, accounting, and valuation. He is a Fellow of the American Academy of Matrimonial Lawyers and a member of the American Bar Association, American Institute of Certified Public Accountants, and Illinois Society of CPAs. He is a past president of the Advocates Society and has authored numerous articles. Marcyan has been named as a Leading American Attorney in a publication of that name.
Robert E. McKenzie, Esq., Partner, Arnstein & Lehr LLP
Robert E. McKenzie has presented courses before thousands of CPAs, attorneys and Enrolled Agents
nationwide. He has made numerous media appearances including Dateline NBC and The ABC Nightly News. Prior to entering private practice, McKenzie was employed by the Internal Revenue Service, Collection Division, in Chicago, Illinois. During that time, he worked as a Revenue Officer, a classroom and OJT Instructor of Revenue Officers, and as an Advisory Revenue Officer in the Chicago Special Procedures Staff. Since entering private practice, he has dedicated a major portion of his time to representation before the IRS. McKenzie was a Council Director of the ABA Tax Section (1998–2001). He was a Vice Chair of the ABA Tax Section (2003–2005). He is past Chairman of the Employment Tax Committee, past co-chair of the Task Force for Bankruptcy Legislation of the American Bar Association Section on Taxation and past Chairman of the Chicago Bar Association Federal Tax Committee. He was Dean of the National Tax Practice Institute (1998–2002). He is also a member of the Chicago Area Director’s Liaison Committee. McKenzie is the author of Representation Before the Collection Division of the IRS and coauthor of Representing the Audited Taxpayer Before the IRS, and Representation Before
the U.S. Tax Court. He is a life member of the American Tax Policy Institute. Recently, McKenzie was appointed to the Internal Revenue Service Advisory Council.
Roy Meyers, ASA, CFA, Management Planning Inc.
Since joining MPI in 1981, Mr. Meyers has specialized in tax and transaction-based valuations and in the valuation of various restricted equity securities. Although he has determined values for businesses in a wide range of industries, Mr. Meyers has experience in valuing construction-related firms. Mr. Meyers has prepared numerous tax and transaction-based business valuations and provided litigation support services to many diverse clients. He has performed and managed a wide variety of client engagements, including private and public company security analyses and valuations for various purposes. He has consulted with principals and professional advisors of closely held companies regarding tax and estate planning, ownership succession and continuity planning. He has appeared as an expert in business valuation before the U. S. Tax Court, the IRS, U.S.District Court and arbitration proceedings as a business valuation expert. He is a member of the Board of Directors of Management Planning, Inc.
Philip J. Santarelli, Chief Risk Officer, ParenteBeard LLC
Phil Santarelli is responsible for ParenteBeard LLC’s audit and accounting practice, risk management, quality assurance and consults with Partners on technical accounting and audit issues. Santarelli possesses a unique blend of practical experience with an in-depth accounting background, and he has worked with a diverse group of commercial clients throughout his long career. He serves as the firm’s primary resource for audit and accounting issues related to manufacturing and, in particular, issues related to inventory. Santarelli is an active member of the Technical Issues Committee of the Private Companies Practice Section of the AICPA. In this role, he interfaces with accounting and auditing standards setters, providing comments and perspectives on the impact of accounting
standards on private companies. Santarelli serves on the board of the Economy League of Greater
Philadelphia, a regionally based, nonprofit public policy organization. Santarelli earned a Bachelor of Science degree with a major in Accounting from King’s College and a Master of Business Administration from Wilkes University.
David Williams, Executive Lead for Return Preparer Regulations Implementation, Internal Revenue Service
In January 2010, David Williams was asked to lead the implementation of the Internal Revenue Service’s recommendations on tax return preparer oversight. This landmark effort will serve as a major step toward meeting the strategic goals of increasing taxpayer compliance and ensuring uniform ethical standards for preparers. Williams serves as the principal advisor and consultant to the Commissioner and Deputy Commissioners on all service-wide matters related to the implementation such as regulatory changes, strategic policy decisions, impact on organizational processes, and overall goal achievement.In addition, Williams continues his regular role as Director, Electronic Tax Administration and Refundable Credits, where he leads the effort to redefine the IRS’s approach to electronic interactions with taxpayers and tax practitioners. Williams has also served as the Director of Earned Income and Health Coverage Tax Credits and the Telephone Excise Tax Refund programs. Previously, Williams was the Chief, Communications and Liaison, where he served as the principal strategic advisor to the Commissioner of Internal Revenue. Prior to joining the IRS, Williams was the Deputy Assistant Secretary for Legislative Affairs–Tax and Budget, the Legislative Director and tax policy advisor to U.S. Senator Bill Bradley, and Assistant Staff Director–Revenues and Natural Resources for the U.S. Senate Committee on the Budget.
Brian Yacker, CPA, Esq.,Windes & McClaughry
Brian Yacker has 17 years of tax, general business consulting and accounting experience. In the tax
field, Yacker focuses extensively in working with tax-exempt organizations. In this regard, Yacker has extensive experience in preparing and reviewing Forms 990, 990-T, 990-PF and state tax-exempt forms. Yacker also has extensive experience in the preparation and filing of both federal and state tax exemption applications for public charities, private foundations, and other tax-exempt organizations. In numerous instances, Yacker has negotiated settlements or prevailed in disputes with the IRS on behalf of tax-exempt clients. Areas of tax-exempt organization consultation which Yacker has provided include public support test calculations and planning, preparation of reasonable compensation rebuttable presumption binders, compliance with the lobbying safe harbor, proper expense allocations, and the proper internal and external reporting of special event fundraisers.Representative clients have included large hospitals and other healthcare organizations, universities and colleges, private foundations, trade organizations, other public charities, youth organizations, religious organizations, and amateur sports organizations. Yacker is actively involved in the AAA-CPA, serving on both its Finance Committee and the IRS Liaison Committee. Additionally, Yacker is the AAA-CPA’s representative on the Internal Revenue Service Advisory Committee (Office of Professional Responsibility Subgroup).
Alan Zipp, CPA
Alan Zipp is a Certified Public Accountant, Attorney at Law, Certified Business Appraiser, AICPA Accredited in Business Valuation, Certified Fraud Examiner, author, lecturer, and discussion leadere for the American Institute of CPAs. Since 1970, he has provided specialized tax and financial planning advice to individuals and small businesses. He has a Master of Science degree in Taxation and has completed graduate work in Management Information Systems at the Wharton School. In addition to tax matters, he has developed a specialty in the area of divorce tax and financial planning and related litigation support services. In 1980, he wrote his first book, Divorce: Tax Facts, and in 1985 his second, Handbook of Tax and Financial Planning for Divorce and Separation, published by Prentice-Hall, Inc. Zipp has written numerous articles and papers on topics ranging from tax matters, litigation support issues, business valuation, and legal issues. He was awarded first place in the American Bar Association’s Family Law Section essay contest for his article, “Divorce Valuation of Business Interests:
A Capitalization of Earnings Approach,” Family Law Quarterly, Vol. XXIII, No. 1, 1989. He wrote chapter
18 of the John Wiley & Sons’ Handbook of Financial Planning for Divorce and Separation on the topic of
business valuations for divorce purposes. He wrote the AICPA self-study course, Business Valuation
Methods, for CPA training in this fascinating field. He authored Divorce: Tax and Financial Planning: A
Short Course for the College for Financial Planning. He wrote Divorce: Valuation, Tax, and Financial
Strategies, published by Research Institute of America as part of its tax advisor’s planning series. He wrote the Small Business Valuation Case Study course for the AICPA’s Advanced Business Valuation
education program. He wrote Analyzing the Value of Your Client’s Business: A Short Course for the
College for Financial Planning. For more than 20 years, he was an AICPA instructor for various
courses including the annual AICPA Corporate and Individual Income Tax Workshops. He regularly
presents lectures and seminars before professional organizations including local CPA and Bar
associations, national organization conferences, State CPA Societies, and AICPA conferences and
seminars. He served on the AICPA steering committee on Divorce where he was involved in
the planning of the annual conferences on the CPA’s Role in Divorce Tax and Financial Planning.
In the course of his practice, Zipp has been called on to provide expert witness testimony at divorce trials on a wide range of tax and financially related issues including pension and business valuations.
He was Chairman of the Montgomery County, Maryland Bar Association’s Taxation Section and was elected Treasurer of that Bar Association.