Wednesday, February 9 • 1:00 – 4:00 p.m. ET
Troutman Pepper attorneys will present on:
• "A Practical Look at Section 382" - Corporate taxpayers with attribute carryovers either from NOLs, credits or 163(j) disallowed interest are subject to the application of Section 382. Because taxpayers subject to Section 382 must substantiate that its corporate deductions and net operating losses are available to offset income, this presentation focuses on the requirements of analyzing the application of Section 382 by walking through a case study and real-life examples. Todd Reinstein will cover how to determine if there is a change in ownership, how to calculate the limitation and the application of the built-in gain rules. In addition, Todd will discuss what elements to keep in mind when performing due diligence on a target corporation with NOL carryforwards.
• "Ethical Issues for In-House Tax Professionals" - How working remotely and the advancement in technology has created new and unique ethical issues that in-house tax departments need to consider. We will discuss relevant AICPA, ABA, Circular 230 and TEI rules of conduct and apply them to a variety of hypothetical situations.
• "2022 Pennsylvania State and Local Tax Update" - Timely Pennsylvania state and local tax issues, including developments in sales and use tax, corporate net income tax, gross receipts tax and local business privilege taxes. Randy Varner will provide a unique perspective of what is happening in the Pennsylvania Department of Revenue and Pennsylvania’s tax appeals process.