Attorney–Client Privilege in Corporate Tax Compliance and Planning

Recent changes in the law have raised the stakes and increased the complexity of protecting the confidentiality of communications between corporate tax specialists, in-house tax attorneys, and outside tax counsel.

FIN 48 and the continuing fallout from Sarbanes–Oxley put the onus on corporate taxpayers to intensify tracking and documentation of tax planning structures and uncertain tax positions. Those records, and communications regarding them, are a focus for the IRS and state revenue authorities.

Meanwhile, last year's ruling in Textron has important implications about the confidentiality of tax accrual work papers under the work product doctrine. That ruling has good and bad news for taxpayers and counsel in their dealing with tax authorities going forward.

Listen as our panel of veteran tax counsels bottom-lines the new challenges in attorney–client privilege in tax matters — and offers their best guidance to protect your interests.

The panel included:

George Clarke, Attorney, Baker & McKenzie, Washington, D.C. His practice focuses on general tax planning and minimization, tax controversies and litigation, and tax implications of M&A and corporate restructuring.

Leigh Griffith, Partner, Waller Lansden Dortch & Davis, Nashville, Tenn. He has extensive experience in federal and state tax planning and is a fellow of the American College of Tax Counsel. He was the principal writer of Tennessee's LLC Act and organized the first LLC under that law.

Susan Seabrook, Tax Partner, Latham & Watkins, Washington, D.C. She specializes in tax controversies and litigation and is active in the ABA Taxation Section. She formerly worked for the IRS in the District Counsel and National Chief Counsel Offices.

Edward Davis, Partner, Duane Morris, San Francisco. His specialties include corporate tax and finance, among others. He was in the corporate sector for 20 years, including a stint as in-house tax counsel for a telecom company.

The panel helps you fortify your company's or firm's defenses in these and other areas:

• Understanding the current federal and state enforcement environment in the FIN 48/Sarbanes–Oxley era.
• Gaining insights on the status of the work product doctrine and protections for tax accrual workpapers post Textron.
• Developing strategies to tighten privilege controls to safeguard attorney–client communications.

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CONTINUING LEGAL EDUCATION
CLE credit is available for an additional $65 each for attorneys seeking CLE credits for NY or CT. Other states may grant CLE credits for listening to this CD - check with your state about applying for self-study credit on CD-listening.