CARES Act, NOL Rules, IRS Guidance: Critical Tax Considerations and Mitigation Planning for Taxpayers
Impact of Pandemic on Cash and Liquidity, BEAT, GILTI, FDII, Sec. 965 Transitions Tax
Recording of a 90-minute premium CLE/CPE webinar with Q&A
This CLE/CPE course will provide guidance to tax counsel and advisers on critical tax considerations amid the COVID-19 pandemic. The panel will discuss tax implications and potential opportunities under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, recent IRS guidance, NOL rules, and challenges under the BEAT, GILTI, FDII, and transition tax rules. The panel will also examine additional tax considerations and offer mitigation planning techniques under current tax law and the CARES Act and state and local tax considerations.
Outline
- Tax implications of the coronavirus pandemic
- Coronavirus Aid, Relief, and Economic Security (CARES) Act
- Challenges under BEAT, GILTI, FDII, and transition tax rules
- Critical State and Local Tax Implications
Benefits
The panel will review these and other key issues:
- What are the tax issues for taxpayers and businesses as a result of the spread of COVID-19?
- What are the key tax considerations for businesses after the recently enacted CARES Act?
- How are payments or reimbursement of employee expenses treated for tax purposes?
- What are the tax implications of employees working remotely outside of the jurisdiction of their employer?
- What tax credits or relief is available to businesses and the self-employed?
- What is the impact on NOL rules?
- What are the challenges of BEAT, GILTI, FDII, and transition rules as a result of the coronavirus pandemic?
- What are the state and local tax implications?
Faculty
Robert S. Barnett, JD, MS (Taxation), CPA
Partner
Capell Barnett Matalon & Schoenfeld
Mr. Barnett’s practice is highly concentrated in the areas of taxation, trusts, estates, corporate and... | Read More
Mr. Barnett’s practice is highly concentrated in the areas of taxation, trusts, estates, corporate and partnership law and charitable planning. His experience includes surrogate’s court practice, tax dispute resolution in both federal and state jurisdictions, and tax court representation. Mr. Barnett frequently assists clients in structuring financial transactions and charitable gifts. His articles and lectures encompass a wide variety of topics, including business succession, estate planning, generation-skipping, stock options, effective strategies for removing tax liens, proper utilization of the marital deduction and utilization of partnership elections.
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J. Brian Davis
Partner
Baker & Hostetler
Mr. Davis is a partner in the Washington, D.C. office of BakerHostetler, and head of the firm’s international tax... | Read More
Mr. Davis is a partner in the Washington, D.C. office of BakerHostetler, and head of the firm’s international tax group. His practice is built on decades of experience in law and accounting firm environments, as well as years of experience as international tax counsel for a publicly-traded global media conglomerate. Mr. Davis counsels multinational corporations, private equity funds and high-net worth individuals on all aspects of U.S. federal income tax matters, with a particular emphasis on international taxation. He works with inbound and outbound clients on a diverse array of U.S. and non-U.S. tax matters, and specializes in cross-border M&A and restructuring transactions, cross-border financing arrangements, international intangibles planning and effective supply chain realignments. Mr. Davis also advises clients on technical and policy issues in connection with tax reform, transfer pricing, treaties, permanent establishments, U.S. trade or business, subpart F, foreign tax credits, GILTI, FDII, BEAT and global debt issues.
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Michael J. Semes
Of Counsel
Baker & Hostetler
Mr. Semes works closely with clients to resolve their complex tax issues. Drawing from his experiences as a senior... | Read More
Mr. Semes works closely with clients to resolve their complex tax issues. Drawing from his experiences as a senior government tax official and as a partner in multinational professional services firms, he has a thorough understanding of the nuances of tax law, policy and procedure. Mr. Semes has collaborated with a diverse array of clients in nearly every state and has represented clients in tax controversies in many state forums. From a sector perspective, he has deep experience working with companies on both the regulated and non-regulated sides of the energy industry.
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