Federal and State Tax Residency Rules: Latest IRS Examination Guidance and Navigating State Tax Regulations
Note: CLE credit is not offered on this program
Recording of a 110-minute CPE webinar with Q&A
This course will guide tax professionals and advisers on the latest IRS examination guidance and state tax law issues regarding taxpayer residency. The panel will discuss federal and state tax residency rules, residency and allocation matters, U.S. income tax treaties, available tax planning techniques, managing nonresident audits, and overcoming state regulatory challenges.
Outline
- Federal residency rules
- IRC Section 7701(b) and substantial presence
- Tax treaty residency
- Exceptions based on facts and circumstances
- Recent IRS examination guidance
- State regulatory challenges; new allocation and residency issues
- California residency rules and guidelines
- New York domicile test and critical factors
- Florida and other non-personal income tax states
- Managing nonresident audits
- Tax planning techniques and best practices for dual resident taxpayers and multistate companies
Benefits
The panel will discuss these and other key issues:
- Recognizing the importance of both citizenship and residence in determining tax liabilities of individuals
- Purposes of income tax treaties and their applicability
- Common residency provisions and tiebreakers for dual residents
- Allocating income between jurisdictions
- Principal items targeted by state regulatory authorities
- California tax residency rules and guidelines
- New York domicile test and primary factors in determining tax residency
- Dual residency issues with non-personal income tax states
- Preparation for nonresident audits
- Current planning techniques and best practices for tax professionals
Faculty
Philipp Behrendt
Attorney
Hochman Salkin Toscher Perez
Mr. Behrendt is an Associate at Hochman Salkin Toscher Perez P.C., licensed in California as well as in Germany... | Read More
Mr. Behrendt is an Associate at Hochman Salkin Toscher Perez P.C., licensed in California as well as in Germany and assists in advising clients in civil and criminal tax controversies as well as international money laundering investigations stemming from tax avoidance structures. He also focuses on the technical aspects involved in advising voluntary disclosures in connection with DeFis, NFTs, and other crypto assets.
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Dennis L. Perez
Principal
Hochman Salkin Toscher Perez
Mr. Perez has extensive experience in the representation of clients in civil and criminal tax litigation and in tax... | Read More
Mr. Perez has extensive experience in the representation of clients in civil and criminal tax litigation and in tax disputes and controversies before the Internal Revenue Service and all the California taxing agencies. He was formerly a senior trial attorney with District Counsel, Internal Revenue Service, in Los Angeles, California. Mr. Perez is a Certified Tax Specialist, California State Bar Board of Certification and is also a Fellow of the American College of Tax Counsel. He frequently lectures on advanced civil and criminal tax topics at seminars and before national, state and local bar associations and accountancy groups. He is a co-author of the BNA Portfolio, Tax Crimes, has served as the Chair of the Los Angeles Lawyer Magazine Editorial Board and is the first recipient of the Los Angeles Lawyer Sam Lipsman Service Award for outstanding service to the Los Angeles Lawyer Magazine. He is past Chair of the Tax Procedure and Litigation Committees of the Taxation Sections of the State Bar of California and the Los Angeles County Bar Association. Mr. Perez is past President of the Alumni Board for the UCLA School of Law and has served as an Adjunct Professor, Golden Gate University, Graduate School of Taxation.
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Michel R. Stein
Principal
Hochman Salkin Toscher Perez
Mr. Stein specializes in tax controversies, as well as tax planning for individuals, businesses and corporations. For... | Read More
Mr. Stein specializes in tax controversies, as well as tax planning for individuals, businesses and corporations. For more than 20 years, he has represented individuals with sensitive issue civil tax examinations where substantial penalty issues may arise, and extensively advised individuals on foreign and domestic voluntary disclosures regarding foreign account and asset compliance matters. Mr. Stein is well respected for his expertise and judgment in handling matters arising from the U.S. government’s ongoing enforcement efforts regarding undeclared interests in foreign financial accounts and assets, including various methods of participating in a timely voluntary disclosure to minimize potential exposure to civil tax penalties and avoiding a criminal tax prosecution referral. Mr. Stein is a frequent lecturer at national and regional conferences on topics including tax compliance sensitive issues, IRS examinations, State and Federal worker classification issues, etc.
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