2023 New England Institute on Taxation

SCHEDULE FOR
FIRST DAY:                        MONDAY, January 15 & TUESDAY, January 16

12:30 – 1:00 p.m. Registration & Networking – Monday

1:00 – 2:40   PANEL 1:  Tax Law – INDIVIDUAL & CORPORATE YEAR END TAX UPDATE

 This panel will discuss 2023 individual & business tax changes and planning. Discussion includes tax rates, year-end strategies, expense deductibility for compensation (including reasonable compensation changes), net operating losses, bonus depreciation, interest expense, R&D etc. Also discussion on IRC section 1202 exclusion and other similar topics.

Jae A. Erdekian, CPA – Partner, BDO USA, PC

2:40 – 4:30   PANEL 2:  Tax Law Update – MASSACHUSETTS DOMICILE, THE CONSTITUTIONALITY AND COMPUTATION OF THE MASSACHUSETTS MILLIONAIRE’S TAX AND OTHER FEATS OF MAGIC

The Panel will discuss the following developments:

• A brief history of domicile
• Review the legal terms used in domicile
• Definition of domicile
• Domicile is a facts and circumstance test
• Distinguish between residency and domicile
• Identify the indicia of domicile
• Explain the rule for changing domicile
• Distinguish the concepts of national, citizen and domiciliary  from each other
• Indicate that M.G.L. Chapter 62, section 1(f) contains the MA statutory definition of statutory domicile based on a physical presence in MA greater than183 days with a permanent place of abode
• Contrast common law domicile to statutory domicile/residency
• Constitutionality and computation of the Massachusetts Millionaire’s Tax; etc.

George P. Barresi, EA – Kenneth Freed & Company
Philip R. Dardeno, CPA, MST – Kenneth Freed & Company

7:45 – 8:15 a.m.   Registration & Networking – Tuesday

8:15 – 10:10   PANEL 3:  Tax Law Update – INTERNATIONAL TAXATION

This session will include:

• Income and estate tax matters related to the transfer of US assets owned by a foreign estate, including US real estate, brokerage accounts and pensions.
• What is a transfer certificate, who needs one and how do you get one?
• Special considerations and planning opportunities for an US estate or trust with foreign beneficiaries or assets – including personal representative/trustee responsibilities for withholding and reporting
• Tax matters and planning related to the ownership of US real estate, including blocker corporations
• Corporate Transparency Act – for both domestic and foreign entities

Kenneth J. Vacovec, Esq. – Panel Moderator – Vacovec, Mayotte & Singer, LLP
Tonya James, Esq. – Partner, Vacovec, Mayotte & Singer, LLP
Ada K. Colomb, Esq. – Associate, Vacovec, Mayotte & Singer, LLP

10:10 – 12:00   PANEL 4:  Tax Law Update – MA DOR Tax Update

This panel will discuss recent income tax law changes and forms modifications.  Also, recent developments at the Masschusetts DOR to assist tax professionals as they prepare for filing season; etc.

Brian Lynch – Employee Training, DOR
Mirielle Eastman – Taxpayer Advocate, DOR

SCHEDULE FOR
SECOND DAY:                   WEDNESDAY, January 17 & THURSDAY, January 18

12:30 – 1:00 p.m. Registration & Networking – Wednesday

1:00 – 2:40   PANEL 5:  Tax Law – EXAMINATION / IRS UPDATE

Topics include:

• Overview of E-services
• How to apply for an ID.me account
• 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 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; etc.

Jill Maniacci  – Panel Moderator – Senior Stakeholder Liaison, IRS
Bahir Toles – Exam Group Manager, IRS
Robert Reilly – SBSE Collections, IRS

2:40 – 4:30   PANEL 6: Tax Law – FEDERAL & STATE EXAMINATION / COLLECTIONS AND APPEALS

To understand the challenges that have arisen to Appeals Independence as highlighted by the Taxpayer Advocate. Gain an understanding of AJAC and how it can affect your client’s matter during an Appeal. Further, develop an understanding of the Administrative Record rule and how it can have critical importance to your client’s appeal to the United States Tax Court; etc.

Timothy Burke, Esq. – Burke & Associates

7:45 – 8:15 a.m.   Registration & Networking – Thursday

8:15 – 10:10   PANEL 7:  Tax Law – THE 7 CYBERSECURITY SHIELDS: UNRAVELING THE MYSTERY OF PROTECTING YOUR BRAND & KEEPING CUSTOMERS

Joins us for a discussion on how in a digitally connected world, safeguarding your brand and ensuring the trust of your customers is paramount. This talk, “The 7 Cybersecurity Shields,” provides a comprehensive overview of essential strategies and practices that organizations can employ to protect their brand reputation and maintain customer loyalty in the face of evolving cyber threats; etc.

Michelle Drolet – Founder & CEO, Towerwall

10:10 – 12:00   PANEL 8:  Tax Law – ETHICS

Discussion of the changes to the Statements on Standards for Tax Services (“SSTS”) which are effective as of January 1, 2024. Discussion of the three new standards covering data protection, reliance on tools and the representation of tax clients before taxing authorities. Discussion of CIRCULAR 230 and issues which may arise to the Employee Retention Credit; etc.

Timothy Burke, Esq. – Burke & Associates

Workforce Training Express Fund Course #C-6883  Apply for a maximum 100% reimbursement: Express Program – Workforce Training Fund

Registration Form:  2023 NEI Registration Form