|9:00 a.m.||Managing Today's Professional Responsibility Issues Including Problems Under the TCJA*|
|Steve Barkmeier, WhippleWood CPAs
Anne M. Craig, Senior Attorney, IRS District Counsel
Prof. Rex Logemann, Graduate Tax Program
James R. Walker, Lewis Roca Rothgerber Christie LLP, Moderator
|This panel will discuss practitioners’ ethical issues in tax planning and reporting, examination, and litigation under the Colorado Rules of Professional Conduct for Attorneys, the Rules and Regulations of the Colorado State Board of Accountancy, and Circular 230.
*This program qualifies for 2 hours of ethics credit for CPAs, attorneys, enrolled agents, and tax return preparers.
|10:50 a.m.||Opportunity Zones|
|Joe C. Monty
Eide Bailly LLP
|This presentation will cover the core principles of investments into opportunity zone funds, what gains qualify and what taxpayers are eligible to invest, the three main tax incentives for investors, and the requirements to invest. It will also explain the five-year, seven-year, and ten-year tax benefits and associated elections.||12:30 p.m.||Lunch (on your own)|
|1:30 p.m.||Breakout Sessions:|
|Breakout A: Current Developments in Corporate Taxation|
Morrison & Foerster LLP
|Mr. Strong will address a range of recent developments in corporate taxation, including the continued impact of the Tax Cuts and Jobs Act on corporate formations, intercompany planning, corporate M&A, private equity and venture capital transactions, and trends in corporate acquisition agreements. He will also review selected issues related to spin-off transactions under §355, as well as judicial decisions, administrative rulings, and corporate transactions of interest that have occurred during the past year.
||Breakout B: Hot Topics in the World of ASC 740||Matt Lazzeri and Mathew A. Fresh
Ernst & Young LLP
|This session will cover recent developments related to Accounting for Income Taxes under ASC 740, including the impacts of Tax Reform – specifically GILTI, §163(j), investments in foreign subsidiaries, and BEAT; recent FASB accounting pronouncements; and other complex areas that are commonly missed and lead to restatement.
||3:00 p.m.||Breakout Sessions:||Breakout A: Individual Tax Planning Workshop||Mark A. Vogel, Tax Education Services, LLC
Edward J. Roche, Jr., Graduate Tax Program
|In a reprise of their annual ITP presentation, Retired Professor Vogel and Professor Roche will focus this year on the latest developments affecting individuals, including Rev. Rul. 2019-11 and state income tax refunds; PMTA 2019-1 as it affects the deduction for interest and taxes under the home office/vacation home rules; PMTA 2019-2 as it affects the child tax credit; marital dissolutions and related issues for agreements executed on or after January 1, 2019; Kiddie Tax rules and using Form 8615 and Form 8814 after TCJA; the latest inflation adjustments, including the inflation adjustment for luxury automobiles and using the cents-per-mile valuation method for commuting and personal use of an automobile; qualified residence interest and using a HELOC to acquire rental property; current status of Qualified Improvement Property and bonus depreciation; an update on the status of SE tax and using a PEO to pay wages to employees and partners; the latest on dealing with travel and entertainment expenses after TCJA, including a discussion of the rules on the treatment of qualified transportation fringe benefits and parking provided to employees by an employer; and, if time permits, the payment of health insurance premiums by an S corporation where the payments are made on behalf of an employee who is related to a shareholder of the S corporation.
||Breakout B: International Tax Potpourri||Mark M. Hrenya, Hrenya Senatore LLP
John R. Wilson, Holland & Hart LLP and Graduate Tax Program
|Mr. Hrenya and Professor Wilson will address selected international developments of note, with an emphasis on the guidance (mostly proposed regulations) on the major international provisions of the Tax Cuts and Jobs Act, including the GILTI and FDII rules; the changes to the foreign tax credit, including the GILTI and foreign branch income baskets; the corporate dividends-received deduction; the limitations on hybrid financing transactions; the BEAT regime; and the legislative overrule of Grecian Magnesite Mining.||5:00 p.m.||Institute Adjourns
|9:00 a.m.||Current Developments|
|Professor Isaac L. Lodico
Graduate Tax Program, University of Denver
Professor Lodico will present the significant legislative, judicial, and administrative changes from the past year.
|10:30 a.m.||Section 199A: A Deep Dive Into the Final Regulations|
|Anthony J. Nitti
Mr. Nitti will examine the final §199A regulations governing the new 20% pass-through deduction. He will develop a step-by-step approach to the deduction, while examining in detail the treatment of rental activities as §199A trades or businesses; the definition of qualified business income; the computation of the deduction for taxpayers both above and below the income threshold; the definition of a specified service business; the aggregation rules; computation of W-2 wages and UBIA of property. He will also cover unanswered questions and planning strategies.
|12:30 p.m.||Lunch (on your own)|
|1:30 p.m.||Choice of Entity in the World of §199A and O-Zones|
Holland & Hart LLP
The deduction provided by §199A and the tax benefits from opportunity zones implicate a variety of issues that should be considered when choosing an entity type for U.S. federal income tax purposes. Mr. Cohen will discuss the specific rules in each of these areas and how those rules affect the choice-of-entity decision.
|3:35 p.m.||Breakout Sessions:
||Breakout A: Legal ‘High’lights: Taxing Cannabis in Colorado||Marc Claybon, Crowe
Melinda Fisher, IRS Counsel
Luke Ortner, IRS Counsel
Prof. Edward J. Roche, Jr., Moderator
This panel will discuss recent case law on Constitutional issues, the definition of “trafficking,” separate trade or business issues, and inventory accounting, as well as other accounting issues, choice of entity, penalties, collection issues, and the outlook for legislation reforming §280E and banking rules.
|Breakout B: Game Changer: Sales Tax Reform|
Eide Bailly LLP
What you think you know about sales tax may have radically changed with the recent Supreme Court decision in Wayfair. States are now permitted to collect sales tax from out-of-state sellers with no physical presence in their state including remote sellers, online retailers, phone order retailers, and inbound (foreign) companies. Many states have and continue to pass new economic nexus standards which expand their reach to taxing out-of-state sellers. Staying informed to navigate state sales tax reform and its impact on businesses is more important than ever.