15th Annual Tax Controversy Forum
New York University (NYU) School of Professional Studies
New York, NY 10036
Holland & Knight's Tax Practice is sponsoring and attending the 15th Annual Tax Controversy Forum hosted by the NYU School of Professional Studies. This conference brings together representatives from the government and private practice to compare perspectives on a variety of topics involving tax audits, appeals and litigation. Speakers will cover a wide range of topics across the tax compliance and enforcement spectrum, from policy updates to procedural seminars, substantive programs, international issues, ethical problems, current enforcement initiatives, sensitive audits and tax penalties. Tax attorneys Mary McNulty, Chad Vanderhoef and Amish Shah will each participate in a panel during the forum.
Effectively Navigating the LB&I Examination Process: Tips and Strategies for Responding to Information Document Requests
Mary McNulty, Panelist | June 8, 3:20 - 4:10 p.m.
The Large Business and International (LB&I) Division has specific rules and procedures for how agents should use Information Document Requests (IDRs) to collect information from taxpayers. Understanding these rules and procedures is essential to developing a strategy for successfully handling an examination. This panel of practitioners will provide an overview of LB&I IDR procedures as well as practical advice on how to approach an examination and effectively communicate with the IRS.
Representing Clients with Foreign Bank Accounts: Cleaning Up Problems and Litigating Proposed Assessments
Chad Vanderhoef, Panelist | June 9, 3:50 - 4:50 p.m.
U.S. persons have been required to disclose their interests in foreign financial accounts on Reports of Foreign Bank and Financial Accounts (FBARs) since the enactment of the Bank Secrecy Act in 1970. Prior to 2009, the government rarely pursued FBAR violations, but that all changed with the announcement of the IRS offshore voluntary disclosure programs. Since 2009, the IRS has assessed massive FBAR penalties against numerous U.S. persons, leading to the inevitable increase in litigation challenging these assessments. This panel will address the current state of FBAR enforcement, the impact of the U.S. Supreme Court's decision in Bittner, the current issues pursued in litigation around the country and what the future holds.
IRA Clean Energy Credits and Anticipated Enforcement
Amish Shah, Panelist | June 9, 3:50 - 4:50 p.m.
The U.S. Environmental Protection Agency (EPA) describes the Inflation Reduction Act of 2022 (IRA) as "the most significant climate legislation in U.S. history, offering funding, programs and incentives to accelerate the transition to a clean energy economy" and predicts that the act will drive the deployment of new clean electricity resources. Under the IRA, certain businesses and tax-exempt entities may deduct a percentage of the cost of renewable energy systems from federal tax and, in some cases, directly monetize or transfer tax credits to unrelated parties. With these tax benefits will come increased enforcement to ensure that taxpayers are not abusing the system. This panel will address the various clean energy credits under the IRA, the eligibility and filing requirements, current and forthcoming Treasury and IRS guidance and what we can expect in future audits and investigations.