IN-PERSON PASSHOLDERS:
You may use your Pass to register for the live webcast at no charge.
ONLINE
Monday, December 14, 2020 - Tuesday, December 15, 2020
8:30 AM - 4:50 PM
LIVE ONLINE ONLY – NO IN-PERSON ATTENDANCE
In-Person Passholders – You may use your Pass to register for the live webcast at no charge.
Institute Highlights
The Tax Institute has brought together national authorities and Minnesota experts to share their insights into the latest developments and hot topics in tax law. Choose from 12 timely breakout sessions to design the curriculum that best fits your practice needs and goals. This year features:
A Long Tradition of Excellence – 80 Years and Running!
Co-sponsored by the MSBA Tax Law Section and Minnesota CLE
8:00 – 8:30 a.m.
JOIN ONLINE
8:30 – 8:35 a.m.
WELCOME & INTRODUCTION
MSBA Tax Law Section Chair
8:35 – 9:20 a.m.
MN Department of Revenue Update
2020 has been a unique year – even when it comes to taxes. Hear assistant commissioners discuss the latest happenings at the Minnesota Department of Revenue. They will give an update on the department’s ongoing work in response to COVID-19, the pandemic’s impact on the state’s economy, federal tax law changes, the upcoming tax filing season, and what they’re doing to improve racial equity in the administration of the state’s tax laws.
Sarah Bronson, Robert Doty & Justin Nieman
9:20 – 10:20 a.m.
Important Developments in Individual Taxation
This session will focus on important developments over the last year in individual taxation, including key legislative changes, cases, rulings and other recent developments of interest to practitioners and taxpayers alike.
Thomas McCarr
10:20 – 10:35 a.m.
BREAK
10:35 – 11:50 a.m.
Tax Systems and Social Justice: #BlackTaxpayersMatter
1.25 elimination of bias credits applied for
The world witnessed the brutal suffocation of George Floyd on a concrete sidewalk in Minneapolis in the summer of 2020. While this was but one more example of centuries of relentless violence against a Black community member, people across the globe raised their voices and insisted that something must be done to stop the routine ruin of Black lives. What can we as tax professionals do? First, we must recognize that tax injustice leads directly to income and wealth inequality, pervasive poverty, and compromised health, welfare and safety for communities of color. The immorally high and persistent rates of poverty for Black children and their families and the higher death rate of Black individuals as compared to their white counterparts from COVID-19 are real-world problems that can be remedied. Real remedies will require all hands on-deck because these issues are long-standing systemic harms caused by federal, state, and local institutions over the last 400 years. Professor Lipman will discuss the history of discrimination in US tax systems and propose anti-racist action items.
Professor Francine J. Lipman
11:50 a.m. – 1:20 p.m.
LUNCH BREAK
12:00 – 12:45 p.m.
LUNCH PRESENTATION
Women in Tax
Hear from a panel of accomplished senior women tax professionals discuss their respective journeys and experiences in the worlds of the judiciary, corporate, private practice and consulting.
Kristi Carlson, Judge Wendy Tien & Wendy C. Unglaub
Gina B. DeConcini (moderator)
12:50 – 1:00 p.m.
Presentation of the Jack Carlson Memorial Distinguished Service Award to Masha M. Yevzelman
1:20 – 2:20 p.m.
BREAKOUT SESSION A
101
International Tax 101: US Outbound and Inbound Structuring – Basic International Tax Considerations
This session will focus on basic international tax considerations for US clients considering operations outside the US (i.e., outbound investment) and non-US clients considering operations in the US (i.e., inbound investment). The topics include structuring considerations, entity selection, transfer pricing, joint venture considerations, treaty considerations with a focus on when activities that create a taxable presence (i.e., nexus or permanent establishment) in a country, debt versus equity financing, profit repatriation and US reporting requirements. The materials will be a guide for the practitioner to conduct a discussion with a client on the more important considerations and related tax impact on structuring US outbound and inbound investment.
James D. Loizeaux
102
Sales Tax – Monitoring and Complying with Marketplace Facilitation Laws, Risk Mitigation and the Role of Automation
Sales tax nexus continued to evolve as states attempted to expand the bounds of the physical presence requirements laid out in National Bellas Hess and Quill. However, that evolution accelerated when the Supreme Court overturned longstanding precedent and acknowledged an economic presence standard in Wayfair. As sales tax nexus has evolved, the impact has been perplexing when coordinating the new nexus standards with the expansion of marketplace provider laws across the nation. This session will discuss ongoing sales tax nexus and marketplace issues, and will spend time discussing strategies to identify and eliminate historical liability risk as well as approaches to monitoring sales tax nexus on a prospective basis.
Kyle M. Brehm & Alexander Korzhen
103
Best Practices for US and MN Tax Court Remote Procedures
This session will feature Judges and practitioners from the US and MN Tax Courts who will discuss the remote procedures the court has implemented due to the COVID-19 pandemic. Hear best practices, tips, and advice to succeed in this new arena.
Judge Jane Bowman, Judge Mark V. Holmes & Lisa Jones
Lynn S. Linné (moderator)
2:20 – 2:35 p.m.
BREAK
2:35 – 3:35 p.m.
BREAKOUT SESSION B
201
Property Tax 101: Property Tax Appeals in the Time of COVID
With commercial vacancy rates rising as a result of COVID-19, many property owners are evaluating whether it makes sense to appeal the taxes on their commercial, industrial, or multi-family buildings. This session will provide participants with the knowledge they need to evaluate whether it makes sense to file a Minnesota property tax appeal, including how property is valued for purposes of property tax appeals and critical procedural requirements.
Lynn S. Linné
202
Estate Planning and Year-End Tax Opportunities
Potential income and transfer tax changes that could be effective as early as January 2021 create urgency in planning by the end of 2020. Presenters Robert Dietz and Andrea Kushner of Bernstein Private Wealth Management will review strategies worth considering and implementing by year-end. The presenters will also discuss planning ideas for the beginning of 2021 and beyond.
Robert W. Dietz & Andrea L. Kushner
203
Ethical Considerations During COVID and Remote Practice
1.0 ethics credit applied for
COVID-19 had upended the legal profession by forcing practitioners and judges to find virtual means to conduct business. As more and more attorneys find themselves turning to Zoom and other virtual platforms it is important to keep in mind the ethical issues and obligations presented by this new medium. This session will discuss ethical issues such as confidentiality, diligence, and conflict of interest.
Boz Bostrom
3:35 – 3:50 p.m.
BREAK
3:50 – 4:50 p.m.
BREAKOUT SESSION C
301
Bankruptcy 101: Bankruptcy Basics for Tax Practitioners and Recent Case Updates
Bankruptcy law often crosses over many practices. The intersection of tax and bankruptcy law is common. This CLE will cover basics of bankruptcy, contemporary issues, and bankruptcy essentials for tax attorneys. We will cover some of the most basics process of a bankruptcy case. The presentation will also cover the treatment of tax claims in bankruptcy action.
Mawerdi Hamid
302
Partnerships – Now More Than Ever, The Need for Capital Accounts!
This session will focus on back to basics of capital account maintenance, fundamentals of partnership operations and what to do when capital accounts aren’t maintained properly or allocation errors are discovered. With the new 2020 K-1 reporting requirements, all partnerships will need to have properly maintained partner capital accounts.
Anthony J. Pyka & Amy J. Roberts
303
Federal and State Residency Issues: COVID and Beyond…
Federal and State tax “residency” issues have taken on new challenges, for both the federal and state governments and for the public. “Stay at home” orders from countries, states or municipalities, and requirements to “work remotely” have created uncertainties regarding residency tests (especially those that consider day counts) and other tax reporting obligations. This session will look at these various issues, including published guidance, with potentially some highly unexpected results – including issues or uncertainties that may stretch beyond 2020.
Kenneth S. Levinson & Masha M. Yevzelman
8:00 – 8:25 a.m.
JOIN ONLINE
8:25 – 8:30 a.m.
WELCOME & INTRODUCTION
8:30 – 9:45 a.m.
Minnesota Tax Law Update
This session will discuss recent Minnesota Supreme Court and Minnesota Tax Court income tax and sales tax decisions (as well as an overview of some important cases that currently are pending in the courts). The presenters will also provide an update on recent Minnesota DOR Revenue Notices, procedural audit and appeals changes by the Department, and any relevant legislative developments.
Sean Iske, Christopher Martin, Kristine Nogosek & John O’Mahoney
9:45 – 10:00 a.m.
BREAK
10:00 – 11:15 a.m.
Federal Business Tax Update
A summary of the past year’s statutory, regulatory, and judicial business tax developments.
Daniel A. Greenhagen
11:15 – 11:30 a.m.
BREAK
11:30 a.m. – 12:30 p.m.
Tax Policy and Tax Administration After the 2020 Election
Debates and disagreements over tax policy loom large in any federal election cycle, especially when the presidency is at stake. Tax administrators at Treasury and the IRS have experienced their own challenges in recent years. In the aftermath of the 2020 election, Professor Kristin E. Hickman of the University of Minnesota Law School will discuss possible changes in federal tax policy and tax administration that we might anticipate in 2021.
Professor Kristin E. Hickman
12:30 – 12:45 p.m.
BREAK
12:45 – 1:45 p.m.
BREAKOUT SESSION D
401
Mapping Prejudice: Uncovering the Hidden Histories of Race and Privilege in Minneapolis
1.0 elimination of bias credit applied for
The Mapping Prejudice Project is building the first comprehensive map of racial covenants for a major American city. These covenants were used in the first half of the 20th century to prevent non-white people from owning or occupying property. While now illegal, covenants continue to impact the racial geography of Minneapolis and undergird many of the city’s contemporary racial disparities. Learn how racially restrictive property deeds and redlining by federal housing administrators, loan officers and banks negatively impacted the administration of justice in Minneapolis.
Kevin Ehrman-Solberg
402
Credits and Incentives Update
This session will update tax law practitioners on federal and state credits and incentives available to businesses in Minnesota and the Midwest. Updates include Work Opportunity Tax Credit, COVID-19 credits, and Research & Development credits. This session will also discuss incentives updates in the United States, emerging business and legal trends, and potential risks while businesses are impacted by COVID-19.
Michael Pangborn & Jeff Rossate
403
Wayfair Impacts on Corporate Income Tax Nexus
States have been asserting economic nexus in the context of corporate income tax for decades. So at first blush, Wayfair might not appear to have much impact in that area. But in fact, it does. We’ll cover what some of those impacts are and some of the state law changes that are developing as a result.
Shirley K. Sicilian
LIVE WEBCAST
This online seminar will include plenary sessions, plus your choice of breakout sessions.
Monday & Tuesday, December 14 & 15, 2020
Attend online
REPLAYS
There are no replays.
$345 MSBA members / $345 paralegals / $395 standard rate
Other discounts that may apply:
Scholarships available!
Need-based scholarships are available for in-person and online seminars. For further information or to obtain a scholarship application, contact us at 800-759-8840 or customerservice@minncle.org.
Minnesota CLE is applying to the Minnesota State Board of CLE for 11.25 CLE credits, including 1.25 elimination of bias credits for the Day 1 plenary session at 10:35 a.m., 1.0 ethics credit for session #203, and 1.0 elimination of bias credit for session #401. The maximum number of total credits attendees may claim for this program is 11.25 credits.
Course materials will be provided electronically through the Minnesota CLE website one to two days prior to the Institute. To view the materials, attendees must log in to their Minnesota CLE website account and go to My Account > Seminar Registrations.
