Events - Event View

Welcome and Housekeeping – Jennifer Regalado, Elizabeth Figueroa, and Linda Deaton, Fall Seminar Co-Chairs

Opening Remarks – John Easterday, President - The Chicago Tax Club

KEYNOTE ADDRESS:
The Challenges and Opportunities Facing the State of Illinois and its Local Governments

Although the State of Illinois finally has a budget after over two years of impasse, it continues to be recognized as having the worst credit rating of any of the 50 states. Illinois’ largest city, school district and park district are all non-investment grade or junk bond status. Is there any hope or a reasonable path out of fiscal dysfunction for our State and local governments? Laurence Msall, President of the non-partisan Civic Federation, will share his thoughts on the challenges Illinois and its local governments currently face, as well as opportunities for promoting fiscal sustainability and moving our governments forward.

Presenter:
Laurence Msall, President – The Civic Federation

Moderator:
Jim Horvath, Past President, Chicago Tax Club

Accounting for Income Taxes Update

Please come and join us as out presenters discuss recent developments and common trends that will impact income tax accounting areas relevant to the 2018 year-end financial statements.

Speakers:
Matt McGrath, Tax Partner, Deloitte
John Marcheschi, Managing Director, Deloitte

Moderator:
Pete Antonopoulos, Senior Manager, True Partners Consulting

International Tax Update—Part 1 (of a 2-Part Session)

There have been many significant developments in international tax this year, including the Tax Cuts and Jobs Act (TCJA). This presentation will touch on the primary provisions of the TCJA and discuss other important developments impacting US taxation of international operations. Jim Fuller and Adam Halpern will provide their technical interpretations and practical insights related to the most important developments.


Speakers:
Jim Fuller, Partner, Fenwick & West, LLP
Adam Halpern, Partner, Fenwick & West, LLP

Moderator:
Ryan Lange, Director—Transfer Pricing, Duff & Phelps LLC

Domestic Transfer Pricing

Audits of state transfer pricing is on the rise and this session will address the framework and requirements of state transfer pricing as well as addressing transfer pricing in common organizational structures.

Speakers:
Colleen Warner, Partner, International Tax Practice Central Region Leader, Ernst & Young LLP
Bryan Dixon, Principal, State Tax Structuring Practice, Central Region Leader, Ernst & Young LLP

Moderator:
Diana Achim, Manager, Global Tax, McDonald’s Corporation

A Global View of Unclaimed Property for Illinois Businesses
(A Panel Discussion moderated by Joseph Carr, Partner – BDO National UP Practice Leader)

In this session, distinguished Panelists from the corporate business community, public accounting and legal groups will discuss in an interactive setting amongst themselves and the audience escheat issues facing Illinois businesses and insight on best practices to comply and mitigate risks. In a world of continuous accounting and tax climate change, unclaimed property is no stranger. While most Illinois businesses have been focused on federal tax reform and its SALT implications along with Wayfair paradigm shift, unclaimed property has had its changes as well particularly in Illinois (law change effective 1/1/18) and Delaware (law change enacted 2/3/17), enforcement of which is expected in 2019 and beyond. The Uniform Law Commission adopted new RUUPA (model escheat acts) in 2016 that is expected to grab attention of more states for adoption in the coming years as well. Whether it’s the new statutory framework in IL and DE, or the ULC provisions to be adopted by others, there remains sharp debate as to the purpose of unclaimed property laws; many holders say it is nothing short of corporate extortion or a money grab by states to plug budget deficits while states argue they audit and collect these funds with the intent to return them to the rightful owner. Who’s right, who’s wrong, - join our interactive session to discuss these issues with the panelists and you decide!

Speakers:
Shawn kane – Crowe
Matt Mock – Morgan Lewis
Lenore Vidal – Sirius Computer Solutions
Laurie Blazej – ABC Supply

Moderator:
Joe Carr, Partner, BDO

Introducing and Understanding the “Latest” LinkedIn Platform

This session will focus on: (1) understanding the basic to advanced features of LinkedIn; (2) learning how to build an individual profile to highlight your Tax, Financial, Operational, Technical leadership and Industry expertise; (3) utilizing LinkedIn to promote your company’s corporate brand; (4) how to share tax thought leadership expertise locally to globally; (5) benchmarking with other tax executives within or outside of your industry; and (6) leveraging LinkedIn to expand your professional network to locating vendors and business partners for all business tax needs.

Speaker:
Larry Kaufman, Experis Finance

Moderator:
Samantha K. Breslow, Horwood Marcus & Berk Chartered

Finding Chicago’s Best with Elliott Bambrough

Every Sunday night, Elliott Bambrough and co-hosts Marley Kayden and Lauren Scott take us on a fun journey as they sample all kinds of good things to eat and drink in our beloved Chicago and suburbs. Let’s face it – we learn about all sorts of treats we’d never find on our own. Join Elliott as he tells us about the places he’s been and the things he’s seen (and eaten) around town.

Speaker:
Elliott Bambrough

Moderator:
Jim Peterson – Tax Director, Vi

Long-Term Compensation Alternatives

This presentation will focus on different types of long-term compensation arrangements that are available to companies, including stock options, stock appreciation rights, restricted stock, etc. The tax treatment of each award will be discussed as well as award characteristics that can lead to one type of award being more appropriate than another for a particular company. There will also be a discussion of how some of these arrangements can be used for tax planning under the new IRC Section 162(m) rules applicable to public companies.

Speaker:
Tim Daum, Managing Director, Crowe LLP

Moderator:
Chan-Yu Wang, Senior Manager, Crowe LLP

International Tax Update—Part 2 (of a 2-Part Session)

There have been many significant developments in international tax this year, including the Tax Cuts and Jobs Act (TCJA). This presentation will touch on the primary provisions of the TCJA and discuss other important developments impacting US taxation of international operations. Jim Fuller and Adam Halpern will provide their technical interpretations and practical insights related to the most important developments.

Speakers:
Jim Fuller, Partner, Fenwick & West, LLP
Adam Halpern, Partner, Fenwick & West, LLP

Moderator:
Ryan Lange, Director—Transfer Pricing, Duff & Phelps LLC

State Tax Implications of International Tax Planning

State income tax laws addressing international tax issues can have unintended and negative impacts on international tax planning, and that should therefore be considered in conjunction with international tax planning. In this session, the federal income tax treatment of non-US companies and the treatment of their income for federal and state income tax purposes will be addressed, as well as typical international tax planning structures and state income tax considerations thereof.

Speakers:
Alexis Morrison-Howe, Senior Manager, Washington National Tax Practice, Deloitte Tax LLP
Jason Kang, Senior Manager, Multistate Tax Services, Deloitte Tax LLP

Moderator:
Darren Lebiecki, Director – State & Local Tax, The Kraft Heinz Company

VAT in a Global World – What do I Have to Know?

Does your company make sales internationally? Have you assumed that because you don’t have a foreign entity or foreign offices that you don’t need to worry about complying with VAT? Just as the responsibility for collecting sales and use tax has expanded, US businesses making sales abroad may have a VAT responsibility. This session will talk about the practicalities of doing business abroad including issues with registration, filing and remittances. Whether you sell B2B or B2C, there are always VAT issues to consider. If you sell electronic services, the rules have been changing over the last few years. Now more countries are focusing on sellers of tangible goods and lowering their distance sales thresholds which will force collection by more sellers. Join this moderated discussion to hear how to determine when you have a collection responsibility, how to structure transactions to minimize the collection responsibility, how to document the tax due and charged including what is required to be included on the invoice. We’ll also talk about compliance pitfalls like whether you need a local fiscal representative, how to manage currency issues and language issues.

Speakers:
Andrew Street, VAT Consultant, Amazon
Florian Hanslik, Director, Prime Tax
Diane Yetter, President & Founder, YETTER and Sales Tax Institute

Moderator:
Jim Tauber, managing Director, Andersen Tax

Ethics Update (Session 1 of 2)

This session will cover current developments on a variety of ethics topics including recent case law on privilege and related matters. We will also cover the ethical issues in today's increasingly connected landscape.

Speakers:

Kristen Hazel, Partner, McDermott Will & Emery LLP
Mary Kay Martire, Partner, McDermott Will & Emery LLP

Moderator
Sharon Weiszmann, CTC Committee Chair and Past President

Tax Planning Opportunities: Accounting Method Changes

The session is directed toward young tax professionals with a focus on accounting method changes and certain tax planning opportunities. During the session, our presenters will discuss common accounting method changes that defer revenue and accelerate expenses to drive cash tax savings.

Speakers:
Alek Pulido, Manager, Grant Thornton LLP, Chicago, IL
Debbie Shi, Manager, Grant Thornton LLP, Washington National Tax Office

Moderator:
Bill Holford, Redbox Automated Retail, LLC

IP Structuring in a post TCJA and BEPS world

Actual and proposed legislative changes in both the US (under TCJA) and Europe (to implement the recommendations from the BEPS project) significantly alter the landscape for companies considering IP structuring projects. This presentation will outline those changes and discuss the practical issues that companies, both with existing structures and, those looking at new structures need to consider.

Speakers:
Nathaniel Carden, Partner, International Tax and Tax Controversey, Skadden, Arps, Slate, Meagher & Flom LLP
Paul Fahy, Partner, Tax, A&L Goodbody


Moderator
Jill Kosonen, Director, Transfer Pricing, Epsilon Economics

SALT M&A – A Strategic Approach to Due Diligence

This session will address the components of mergers and acquisitions that drive state tax issues and how to best address those issues. Moreover, additional considerations in a post-federal tax reform and Wayfair world continue to unfold.

Speakers:
Jeff Cook, Managing Director, Grant Thornton LLP
Emily Cook, Associate, Akerman LLP

Moderator:
Rick Strohmaier, Partner, Grant Thornton, LLP

Property tax Issues and opportunities for locations under or pursuing property tax abatements

This panel discussion will focus on situations when taxpayers are unable to meet the requirements of negotiated property tax incentives and abatements. The session will offer attendees examples of these situations, ramifications if the requirements are not met, and potential remedies and/or solutions. Additionally, the panel will address strategies for new and expiring property tax abatements, including those that can maximize benefits and reduce property taxes during and once the abatements expire. This session will also identify best practices for managing property tax abatements, discuss the potential complications when your company purchases a facility that has existing property tax abatements, and explain the compliance requirements of the existing property tax abatement.

Speakers:
Joe Christofanelli, Senior Manager, E&Y
Steve Kaye, Senior Manager, BDO
Russ Cech, Senior Manager, E&Y

Moderator
Jim Tauber,Managing Director, Andersen Tax

Ethics Update (Session 2 of 2)

This session is a continuation of Ethics 1 and will cover current developments on a variety of ethics topics including recent case law on privilege and related matters. We will also cover the ethical issues in today's increasingly connected landscape.

Speakers:
Kristen Hazel, Partner, McDermott Will & Emery LLP
Mary Kay Martire, Partner, McDermott Will & Emery LLP

Moderator:
Sharon Weiszmann, CTC Committee Chair and Past President

2017 Committee Reports
Election of Officers and Directors for the Year 2018

R&D Credit

R&D is now more important than ever given the recent tax law changes. Please join us for an informative session on the impact that internally developed software, IRS audit experience, the safe harbor method, and the new tax law changes has on the R&D credit.

Speakers:
Moi Romero, SourceHOV Tax - Exela Technologies

Moderator:
Rob Jantz, Senior Tax Accountant, Cboe Global Markets

Recent Landmark International Tax Cases

While international tax is often the subject of litigation and court guidance, we appear to be in a period of heightened activity. Significant transfer pricing cases are wending their way through the courts and may signal changes to established principles. This session will explore recent international tax cases and their implications for multinationals, with a particular focus on how companies should react to a potentially shifting landscape.


Speakers:
Russell Young, Partner, Baker McKenzie LLP.
Robert S. Walton, Partner, Baker McKenzie LLP.

Moderator:
Fuad Saba, Partner—Specialty Tax Practice, FGMK, LLC.

State Income/Franchise Tax Developments

Join The Council on State Taxation speakers for an in-depth review of state tax legislative, judicial, and policy developments throughout the United States, with a focus on income/franchise tax and including state reactions to federal tax reform, continued movement to unitary reporting, and other trends to continue watching in 2019.

Speakers:
Ferdinand Hogroian, Senior Tax and Legislative Counsel, Council on State Taxation
Fred Nicely, Senior Tax Counsel Council on State Taxation

Moderator:
Denise Obrochta, Director, Tax Counsel, US Tax Audits & Controversy, Walgreen Co.

Wayfair: Debriefed

The most significant sales tax case in decades was decided by the U.S. Supreme Court was decided on June 21, 2018. South Dakota v Wayfair eliminated the physical presence standard as a requirement for states to impose tax collection responsibilities on remote sellers. But is the South Dakota law which sets an economic threshold of $100,000 or 200 transactions an appropriate standard? Does the dicta discussion in the opinion provide assurances about what is required for the statutes to be constitutional? Join this interactive session to hear some of the background, how did South Dakota get to be the test state and what did the Supreme Court decision really say the states can do. We’ll also provide an update on how different states are reacting to the decision in response to the decision.

Speakers:
Andrew Olson, Tax Managing Director, KPMG LLP
Robert Peters, Managing Director, State Tax, Duff & Phelps, LLC
Diane Yetter, President & Founder, YETTER and Sales Tax Institute

Moderator:
David A. Hughes, Partner Horwood Marcus & Berk Chartered

Local Taxes: Who's on First, What's on Second, I Don't Know is on Third

We have seen local governments become increasingly more aggressive with respect to enforcement of a variety of local taxes. Local governments are not only interpreting pre-existing taxes to encompass significantly more transactions, but are also pursuing litigation more aggressively than previously. In many cases, the local jurisdictions are ill-equipped to address the controversy due to inadequate procedural rules governing the appeals process, and due to a lack of resources necessary to address sophisticated tax issues, which often have constitutional implications.

Speakers:
David W. Machemer, Horwood Marcus & Berk Chartered
Samantha K. Breslow, Horwood Marcus & Berk Chartered


Moderator:
Samantha K. Breslow, Horwood Marcus & Berk Chartered

Section 163(j)

The presenters will discuss topics related to the new interest expense limitation rules under section 163(j), including the interaction with other provisions of the TCJA and considerations when obtaining new debt financing.

Presenters:
Michael Dembek, Managing Director, True Partners Consulting LLC
Jason Carter, Senior Manager, True Partners Consulting LLC

Moderator:
Pete Antonopoulos, Senior Manager, True Partners Consulting LLC

Latest OECD Guidance and Best Practices for Intercompany Financing

This presentation will highlight key insights and best practices with respect to intercompany financing. It will also discuss the OECD's recent Discussion Draft on Financing Transactions and important regulatory developments that will impact audits of these transactions going forward.

Speaker:
Michelle Johnson, Managing Director, Transfer Pricing, Duff & Phelps LLC.

Moderator:
Ryan Lange, Director—Transfer Pricing, Duff & Phelps LLC.

A State Tax Technology Solution

The work world is changing, and tax functions need to consider whether they are employing the right resources and processes in order to satisfy all business needs. Tax department need to consider whether they are embracing change and adapting to the evolving world around it. This session will provide information about tools currently available for automation, data processing and data visualizations of state income/franchise tax compliance, audit, and planning to increase the efficiency and accuracy of your day to day tasks. Learn more about how to instill a culture of continuous learning tailored for the digital age. Moreover, we will focus on tools available to help with your state income tax procedures and allow for a culture of innovation and growth.

Speakers:
Elizabeth Agnes, PwC
Bob Perry, PwC
Ryan Thornburg, PwC

Moderator:
Mina Moradi Fumagalli, Senior Director of Tax, Redbox

Employment Tax Updates on information reporting requirements and audit risks

There has been a recent increase in information reporting tax audit and enforcement activity at the federal, state and local levels. This is due in part to improvements in technologies, successful initiatives that create interstate and cross-agency relationships and a national focus on improving tax reporting compliance. What was once an area of minimal focus for taxing authorities is now significantly relevant. Compliance is more complex than ever with changing state and federal requirements, Employers must maintain tax documentation, withhold and/or report payments made in conjunction with certain products or services to state and local jurisdictions separate and aside from their federal compliance. This session will provide an overview of important tax reporting requirements for foreign vendors, contractors payments, non-resident contractor payments as well as current state/federal audit risks.

Speakers:
Fred Branditz, Manager, EY
Nikolaos Arhos, Esquire, EY
Saul Tilmann, Senior Manager, EY

Moderator:
Julie Gilroy, Director, EY

Wayfair: Practical Aspects

With South Dakota v. Wayfair removing physical presence as a requirement in order for states to impose sales or use tax on remote sellers, businesses will need to come into alignment with the new nexus landscape. The economic nexus thresholds coupled with the state’s enforcement of the decision require businesses to be prepared and evaluate what this means to them. Our discussion includes the many issues our clients are facing with coming into compliance with new state requirements, including ASC 450 considerations, remediation and system issues, compliance, and income tax considerations.

Speakers:
Robyn Staros, Senior Manager, Multistate Tax Services, Deloitte Tax LLP , Chicago IL
Angie Miller, Senior Manager, Tax Management Consulting. Deloitte Tax LLP, Chicago IL
Derek Kulland, Tax Senior, Multistate Tax Services, Deloitte Tax LLP , Chicago IL
Moderator:
Samantha K. Breslow, Horwood Marcus & Berk Chartered

M&A in Post Reform World

During the session our presenters will discuss the impacts Tax Reform has had on Mergers and Acquisitions with regard to due diligence, trends, and planning opportunities.

Speakers:
Meredith Locasto, Manager, Deloitte
Lindsay Wietfeld, Senior Manager, Deloitte
James Watson, Partner, Deloitte

Moderator:
Bill Holford, Redbox Automated Retail, LLC

GLTI/FDII an International Tax Director’s Perspective

The presentation will cover issues and opportunities related to complying with the new sections 951A and 250 of the Internal Revenue Code from the point of view of the internal tax department.

John Ragland International Tax Director Zebra Technologies

Moderator:
John Kelleher, Partner, Crowe LLP

Sale and Use Tax Software Functionality and Implementation Considerations

This session will provide an overview of the functionality of sales/use tax determination and tax reporting software and exemption certificate management tools to help automate and streamline the important aspects of your business. Additionally, we will provide an overview of techniques and considerations when implementing these tools.

Speaker(s):
Aaron Kleiner, Vertex Inc.
Willie Thurman, Vertex Inc.

Moderator:
Jim Tauber, Managing Director, Andersen Tax

Income Tax Nexus Defense

The Wayfair sales tax case is reminding state income/franchise tax practitioners of the need to monitor and document both physical and non-physical presence of taxpayer business activities across the states to not only conform to the appropriate nexus standard in each state, but also defend these nexus positions. This session will review existing state income/franchise tax nexus laws, trending income tax nexus developments both pre and post Wayfair, and any anticipated legislative proposals in 2019 that may change existing physical presence nexus standards.

Speakers:
Craig B. Fields, Partner, Morrison & Foerster, LLP (Co-Chair Tax Practice, Chair State Tax Practice)
Mitchell A. Newmark, Partner, Morrison & Foerster, LLP

Moderator:
Jennifer Zimmerman, Senior Manager, State Tax Audits and Appeals, Walgreen Co.

Intelligent Automation for the Tax Function

This session will showcase how Intelligent Automation can be used to improve the efficiency of the Tax function. A variety of tools and use cases will be presented to illustrate the application of the technology. The integration of tools, including Robotic Process Automation, will be highlighted during the session.

Speaker:
Kimberly Deeb, Ernst & Young

Moderator
Samantha K. Breslow, Horwood Marcus & Berk Chartered

Honors the 2018 Committee Chairpersons of the Chicago Tax Club

Getting back to Gettysburg

As a Illinoisan, what do you really know about President Lincoln's most famous speech? Get a refresher in history with a few details about the battle itself, how it created a national cemetery, how many copies of the address were requested (and whereabouts) plus a recitation of the address.

The program will be presented Honest Abe and Mary Lincoln themselves (in period costume).

Speakers:
Max & Donna Daniels

Moderator:
James Olinski, CTC Speakers Committee