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SCHEDULE FOR
FIRST DAY: MONDAY, November 7 & TUESDAY, November 8
12:30 – 1:00 p.m. Registration & Networking – Monday
1:00 – 2:40 PANEL 1: Tax Law Update – IRS UPDATE
Overview of E-services, how to apply for an ID.me account and how to maintain an e-file application; Changes to the fingerprint protocol; gain an understanding of the transition from EFTOPS to T2C and its effect on third party processors. Review of new tax law changes and related tax form changes such as employment taxes; reminder for the IRS safe harbor election S1.263(a)-1(f) allowing the write off of single items up to $2,500 without audited financials and $5,000 with audited financials; address how practitioner and client can contact the IRS; legislature updates; collections; etc.
Mary Beth Murphy – Director, North Atlantic Area, Field Collections, SB/SE
William E. Philbrick, CPA/ABV, MST, CVA, CFF, CGMA – VP, Greenberg, Rosenblatt, Kull & Bitsoli, PC
Mark J. Newman – Senior Technical Analyst, NAA, Field Collections, SB/SE
Panelist/s – To be announced
2:40 – 4:30 PANEL 2: Tax Law – STATE TAX UPDATE
DOR representatives will discuss recent tax developments to include additions to the Legal Library, federal/state differences of taxable/non-taxable income, resident/non-resident determinations, Mass. credits, pass-through entity excise tax guidance; etc.
Brian Lynch – Employee Training, DOR
Panelist/s – To be announced
7:45 – 8:15 a.m. Registration & Networking – Tuesday
8:15 – 10:10 PANEL 3: Tax Law– PROFESSIONAL RESPONSIBILITY – ETHICS
Understand your professional obligations and responsibilities under CIRCULAR 230, become aware of best procedures regarding personal tax compliance, record keeping and data security. Gain an understanding of procedural standards, due diligence, conflicts of interest, protection of confidential information; 3rd party authorization letter for release of client information; etc. Discussion on proposed changes to SSTS; etc.
Timothy Burke, Esq. – Burke & Associates
10:10 – 12:00 PANEL 4: Tax Law Update – INDIVIDUAL TAX UPDATE
This panel will provide updates on federal and Massachusetts changes for tax years 2022 and 2023, including:
- Updates on brackets, standard deductions, and credit
- Individual income tax changes in the Inflation Reduction Act
- Massachusetts individual tax changes, including an update on the Massachusetts Elective Pass-Through Entity Excise Tax
- Digital assets/virtual currency and their proper tax treatment
- What practitioners can expect with increased IRS enforcement funding
Matthew Brennan, CPA, MST – Panel Moderator – Partner, Marcum LLP
Matthew A. Morris, Esq. – Partner, Sherin and Lodgen LLP
SCHEDULE FOR
SECOND DAY: WEDNESDAY, November 9 & THURSDAY, November 10
12:30 – 1:00 p.m. Registration & Networking – Wednesday
1:00 – 2:40 PANEL 5: Tax Law Update – BUSINESS TAX UPDATE
Join us for updates in NOLs, Excess Business Loss limitations, Interest expense limitations, changes in allowable charitable deduction for corporations, Employee Retention Credit, and other changes.
James A. Erdekian, CPA – Tax Partner, BDO USA, LLP
2:40 – 4:30 PANEL 6: Tax Law – INTERNATIONAL TAX
Foreign Tax Credit reporting on form 1116 under the revised IRS requirements, reporting foreign taxes, income and deductions from the new schedules K-3 ( S Corporations and Partnerships) on form 1116; how Crypto Currency is viewed for income and informational reporting in the United States and internationally; international income tax policies on transfer pricing and OECD developments that effect United State tax payers; recent developments, penalty policies and reporting traps relating to United States information reporting requirements on Foreign Bank Account Reporting (FINCEN Form 114) and IRS forms 8938, 3520, 5471 and 5472; etc.
Kenneth J. Vacovec, Esq. – Panel Moderator – Vacovec, Mayotte & Singer, LLP
Tonya James, Esq. – Partner, Vacovec, Mayotte & Singer, LLP
Yao Tang, Esq. – Partner, Vacovec, Mayotte & Singer, LLP
7:45 – 8:15 a.m. Registration & Networking – Thursday
8:15 – 10:10 PANEL 7: Tax Law – ESTATE AND GIFT TAX
We will cover a variety of important and current issues in estate and gift tax planning that accountants need to be up to date on. Topics will include:
- Review of the applicable federal and Massachusetts estate gift tax rules;
- Estate tax planning for married couples, including the marital deduction and portability;
- Use of revocable trusts as part of estate tax planning, including marital/QTIP trusts, bypass/credit shelter trusts;
- Use of irrevocable life insurance trusts in estate tax planning;
- Special rules applicable to Massachusetts estate tax;
- Ownership of assets in multiple jurisdictions and impact on estate tax obligations;
- Gifting options to reduce estate taxes, including use of irrevocable trusts (grantor trusts, IDGTs, SLATs);
- Income tax/basis considerations in gift planning;
- Interplay of gifting and Massachusetts estate tax;
- Use of split interest gift trusts (GRATs, QPRTs, etc.);
- Implementation of family entities in gifting transactions;
- Issues of valuations and discounts in lifetime gifting; and
- Use of sales and other transactions with trusts for estate tax reduction;
Luke C. Bean, Esq. – Panel Moderator – Partner, Rico, Murphy, Diamond & Bean LLP
Emily Beekman, Esq. – Associate, Mirick O’Connell , LLP
10:10 – 12:00 PANEL 8: Tax Law – 7 DIMENSIONS OF CYBERSECURITY
Join us for a discussion on the following:
- Policy & Program
- Awareness & Training
- Vulnerability Management
- Vender Management Program
- Cyber Technology Stack
- Cybersecurity Insurance
- Regulatory & Compliance
Michelle Drolet – Founder & CEO, Towerwall
Panelist/s – To be announced
Workforce Training Express Fund Course #1140432 Apply for a maximum 100% reimbursement: Express Program – Workforce Training Fund
Registration Form: 2022 NEI Registration Form
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