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Business Tax

ABA Tax Section Hosts Key Meeting May 12-14

Thomson Reuters Tax & Accounting  

Thomson Reuters Tax & Accounting  

The American Bar Association’s Section of Taxation will host its annual May meeting in Washington, D.C., this week, and Checkpoint will be providing news and insights from what many U.S. tax practitioners consider the premier gathering for their profession.

Billed as the Hybrid 2022 May Tax Meeting, this year’s event will take place in-person from May 12 to 14 at the Marriott Marquis hotel in Washington, with most sessions streamed live online. Officials from the IRS, Treasury Department, and Justice Department Tax Division are scheduled to take part in various sessions, along with counterparts from foreign tax authorities.

For many of the meeting sessions, participation can be credited toward continuing legal education, but attendees should be sure to check first with a particular session’s organizers, who are listed in the meeting agenda on the event’s website.

The three-day meeting opens at 1 p.m. EDT on Thursday, May 12, with a panel discussion titled Tax Bridge to Practice, covering the basis of tax controversy procedure and practice, a “practical introduction” to transactional tax and planning, and a primer on employee benefits and executive compensation. The closing session, on Saturday, May 14, will be a roundtable discussion among legal scholars on possible changes to the U.S. tax code affecting tax data transparency.

Scheduled highlights of the ABA meeting include a discussion on the role of federal tax policy, particularly how it could be a part of efforts to slow inflation, whether tax legislation over the past two years has contributed to the rise in prices, and the possible impact of further fiscal stimulus or tax increases. Senior staff members of the House of Representatives Ways and Means Committee and the Senate Finance Committee are slated to take part.

Friday, May 13, is a full day of meeting sessions, starting with a panel discussion on current developments and hot topics in tax administrative practice, with a focus on recent legislative efforts affecting tax law and the IRS, Treasury and IRS guidance, court decisions, and ongoing litigation. Subsequent panels will address how the IRS’s Examination and Appeals divisions have fared during the COVID-19 pandemic.

Other sessions will survey developments in taxation of S corporations’ income; the status of software for reporting and tracking cryptocurrency transactions, and how those tasks are affected by international reporting obligations; and current developments within the U.S. Tax Court and the Court of Federal Claims, with sitting judges from each court scheduled as discussion participants.

On Saturday, May 14, attendees will hear from officials in civil and criminal tax enforcement at the Justice and Treasury departments, along with private practitioners who will talk about legal developments and defense strategies in response to tax investigations. A related discussion will focus on the impact of emerging technologies on criminal tax enforcement.

Be on the lookout for Checkpoint’s coverage of the ABA Section of Taxation’s May meeting.

 

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