Derivative Tax Challenges: Navigating the Changing IRS Rules on the Treatment of Swaps and Futures
Recording of a 110-minute premium CLE/CPE webinar with Q&A
This CLE course will prepare tax counsel to address current tax issues specific to derivative financial products. Our distinguished panel will help tax counsel to identify the issues and explain how to resolve them.
New regulations on swap transfers, assignments and novations
- Application of IRC Section 1256 to swaps and futures
- Application of IRC Section 956 to upfront payments
Notional principal contract rules
- Method of accounting
- Marked to market rules
The panel will review these and other key questions:
- When is a derivatives contract subject to IRC section 1256 v. traditional accrual rules?
- When may a taxpayer voluntarily mark a derivatives contract to market?
- Does the tax treatment of a derivative depend on whether it is cleared through central counterparty or whether it is an over-the-counter transaction?
- What are the consequences of entering into a swap with an upfront payment?
- What are the consequences of assigning a derivatives contract?
- What is the effect of changes in the market and in the tax law on derivatives used for hedging purposes?
- How might tax reform affect the tax treatment of derivatives?
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Mark H. Leeds
Mr. Leeds is Tax Transactions and Consulting Partner in the firm. His practice is focused on the tax consequences of a... | Read More
Mr. Leeds is Tax Transactions and Consulting Partner in the firm. His practice is focused on the tax consequences of a variety of capital markets, products and strategies, including over-the-counter derivative transactions, swaps, tax-exempt derivatives and strategies for efficient utilization of tax attributes. He a frequent writer and speaker on tax topics affecting the capital markets.Close
Erika W. Nijenhuis
Ms. Nijenhuis' practice focuses on U.S. income tax, with an emphasis on financial products and international tax... | Read More
Ms. Nijenhuis' practice focuses on U.S. income tax, with an emphasis on financial products and international tax planning matters. She regularly advises financial institutions and other domestic and foreign clients on issues relating to capital markets transactions, the development of new financial products, and inbound and outbound business operations. She is one of the country’s leading experts on tax issues arising from the new U.S. rules governing the derivatives market.Close
William R. Pomierski
McDermott Will & Emery
Mr. Pomierski focuses his practice on the taxation of financial products and capital markets transactions. He advises... | Read More
Mr. Pomierski focuses his practice on the taxation of financial products and capital markets transactions. He advises clients on the federal income tax implications of a variety of domestic, cross-border, and global financial products and related transactions. His experience in financial product issues extends to derivatives involving a wide range of commodities, along with interest rate, currency and equity derivatives.Close