IRS & Treasury Panel: Partnership Reporting (Inbound) [CC]

    IRS & Treasury Panel: Partnership Reporting (Inbound) [CC]

    IRS & Treasury Panel: Partnership Reporting (Inbound) [CC]

    Discussion of proposed redesigned partnership form for tax year 2021.
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    Closed Captioned. This is a non-CLE webinar.

    The American Bar Association (ABA), the American Institute of Certified Public Accountants (AICPA), and the Tax Executives Institute (TEI), along with the U.S. Treasury Department and the IRS, will be hosting two webinars to discuss the proposed redesigned partnership form for tax year 2021 (filing season 2022).   The proposed form is designed to provide greater clarity for partners on how to compute their U.S. income tax liability with respect to items of international tax relevance, including claiming deductions and credits.  The following link provides additional information: https://www.irs.gov/newsroom/treasury-and-irs-release-draft-partnership-form-to-provide-greater-clarity-on-international-tax-reporting.  Leaders from ABA, AICPA, TEI and the government will be facilitating a panel discussion which will include an overview of the new forms, what the government was trying to accomplish in designing the forms, and a question and answer period.    Written comments should be sent to the following email address: lbi.passthrough.international.form.changes@irs.gov with the subject line: "International Form Changes."

    The inbound (generally) components of the new forms:
    • Base Erosion Anti-Abuse Tax
    • Income effectively connected with a U.S. trade or business
    • Fixed, determinable, annual, periodical income
    • Gain or loss of foreign persons from sale or exchange of certain partnership interests
    • Treatment of dividend equivalent payments

    PANELISTS
    Lori Hellkamp, Jones Day, Washington, DC
    Robert Russell, Kostelanetz & Fink, LLP, Washington, DC (Moderator)
    Blake Udall, GoDaddy Inc., Scottsdale, AZ
    Shiukay Hung, Tishman Speyer, New York, NY
    John Hinding – Director, Cross Border Activities, IRS Large Business and International
    Margaret (Peg) O’Connor – Director, Treaties (Former Deputy Associate Chief Counsel – International), IRS Large Business and International
    Cindy Kim – Program Manager, Cross Border Activities, IRS Large Business and International
    Karen Cate – Senior Advisor –Office of Associate Chief Counsel International
    Peter Merkel – Branch Chief– Office of Associate Chief Counsel International
    Erika Nijenhuis – Senior Counsel, US Department of Treasury – Office of Tax Policy
    Kamela Nelan – Attorney-Advisor, US Department of Treasury – Office of Tax Policy

    Product Details

    Panelists

    BLAKE UDALL, Cindy S Kim, David Peter Merkel, Erika W. Nijenhuis, John Edward Hinding, Kamela Nelan, Karen Cate, Lori Hellkamp, Margaret O'Connor, Robert M Russell, Shiu-Kay Hung

    Sponsors

    Section of Taxation

    Product Code

    TX2008Z1OLC

    Duration

    60

    Publication Date

    8/18/2020 12:00:00 AM

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