Agenda – MTF

Maine Tax Forum

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Keynote Speaker: Susan Rogers, Partner – Potomac Law Group

Susan Rogers is a Partner in the firm’s Taxation group.  She has three decades of experience in the tax policy and advocacy field, including extensive experience coordinating global tax policy issues for a leading Fortune 100 company and several years as Majority Tax Counsel to the U.S. House Ways & Means Committee.  She is an expert in the field of tax risk management with broad experience in Washington, D.C., as well as the international tax community, with respect to the tax legislative process and the development of international tax rules.

Topic: Washington Tax Legislation Update and US Tax Policy Development in 2020 and Beyond

Susan will cover federal tax legislation developments in 2019 including retirement legislation, the expired and expiring tax provisions (“extenders”), technical corrections, IRS reform legislation, legislative changes to the Tax Cuts & Jobs Act (TCJA), and miscellaneous tax issues included in end-of-session negotiations.

She will also cover the prospects for tax legislation in 2020 and beyond with consideration of the impact of the 2020 Presidential and Congressional elections, the legislative agendas of House Ways & Means Committee Chairman Richard Neal (D-MA) and Senate Finance Committee Chairman Chuck Grassley (R-IA), and the future of key expiring provisions of the TCJA in 2026.

The session will also include an update on US Treasury involvement in the OECD project on the taxation of digital services and development of a global minimum tax, and the roles and interaction in federal tax policy development of the Congressional tax-writing committees, the non-partisan Joint Committee on Taxation, and the US Treasury.

 

MTF-Maurice-testimonial

Day One–Wednesday, November 6

  • 7:45 AM - 8:00 AM

    Opening Remarks

    Rick Nadeau
    SCORE Maine
  • 8:00 AM - 8:50 AM

    State Tax Nexus Updates & Current Hot Topics

    This session will provide an overview of recent state and local tax nexus developments impacting sales/use, income/franchise, and gross receipts taxes. The discussion will cover not only post-Wayfair economic nexus matters, but also various other relevant topics that will be useful in ensuring that attendees have an understanding of what state and local taxing authorities are focusing on at the present time. We will also discuss strategies to assist in the mitigation of any prior period exposure items identified as part of a nexus review, whether for a client or for your own business.

    Leanne Scott
    Baker Newman Noyes
    Jamie Szal
    Brann Law
  • 8:55 AM - 9:45 AM

    IRS Collection Challenges: Field Collection Today and Tomorrow

    We will discuss recent changes in the area of field collection, such as Third Party Contacts related to the Taxpayer First Act, as well as updates to the positions of Director of Collection, North Atlantic Area Director, New England Territory manager and more. We will also touch briefly on field presence, complex casework, collection’s role in passport cases and employment tax issues.

    Joline Hendershot - Collections
    IRS, Maine
    Richard Duarte
    IRS, Acting Territory Manager - New England
  • 9:55 AM - 10:45 AM

    Washington Tax Legislation Update and US Tax Policy Development in 2020 & Beyond (Keynote).

    Susan Rogers
    Potomac Law Group, PLLC
  • 10:50 AM - 11:40 AM

    Breakout Session 1
    A: Employment Definition for Unemployment Tax Purposes
    B: An Introduction to Opportunity Zones

    Session A: During this session, we’ll discuss worker classification i.e. employee versus independent contractor, Maine employment and IRS employment standards, and the repercussions of worker misclassifications.

    Session B: We will discuss the newly-created opportunity zone program, including a discussion of the technical requirements as well as the commercial and business issues associated with participating in the program

    Session A: Laura Boyett
    Maine DOL
    Session A: Nancy Macirowski
    Maine DOL
    Session B: Matt Pore
    Albin Randall & Bennett
    Session B: Kris Eimicke
    Pierce Atwood
  • 12:45 PM - 1:35 PM

    Breakout Session 2
    A: Tax Issues in Selling Marijuana Products

    B: Selected Issues in Taxation of Natural Resources

     

    Session A: The presentation will provide a brief overview of the federal and state income tax treatment of marijuana sales and the impact of IRC section 280E. We will discuss choice of entity considerations, as well as sales tax issues related to commercial agriculture operations and retail sales. We will also provide an update on the legal landscape as we approach Maine’s first recreational sales.

    Session B: This session will begin with an overview of Subchapter I, including deductions available and treatment of sales and exchanges. We’ll then focus in on selected issues primarily related to forest taxation from a federal and Maine perspective. The session will conclude with hot topics, including the impact of the Tax Cuts and Jobs Act on taxation of natural resources.

    Session A: Ted Kelleher
    Drummond Woodsum
    Session A: Peter Dufour
    Dufour Tax Group
    Session A: Karla Brannen
    Albin Randall & Bennett
    Session B: Justin Morren
    Berry Dunn
  • 1:40 PM - 2:30 PM

    Corporate Tax Case Updates

    Each year, the Courts, the IRS, and Treasury issue thousands of cases, rulings, announcements, and other notifications arise regarding taxes and tax issues affecting corporations. We will discuss several cases, rulings, announcements and other notifications that are pertinent to the attendees at the Maine Tax Forum. The presentation will cover matters affecting C corporations and S corporations and the impact of the cases, rulings, announcements, and other notifications on the corporate operations.

    Nelson Toner
    Bernstein Shur
  • 2:40 PM - 3:30 PM

    Forming and Liquidating Partnerships

    Most partnerships (including LLCs) are formed and dissolved without surprising tax consequences. In this presentation, we will highlight rules that apply to formation and liquidation transactions that could, if disregarded, present unpleasant surprises.

    Christopher McLoon
    Nutter, McClennen & Fish, LLP
    Mike Santo
    Wipfli
  • 3:35 PM - 4:25 PM

    Partnerships Operations Sections 704(b) and 704(c)

    The core of Subchapter K resides in Section 704(b). We’ll cover the high points of those rules, especially as they relate to substantial economic effect. Then there’s Section 704(c). We’ll survey that provision’s provisions and mechanics. In each case, we’ll highlight negotiable points for clients to consider.

    Christopher McLoon
    Nutter, McClennen & Fish, LLP
    Jim Cardosi
    Wipfli

Day Two–Thursday, November 7

  • 7:45 AM - 8:00 AM

    Opening Remarks

    Rick Nadeau
    SCORE Maine
  • 8:00 AM - 8:50 AM

    TCJA After One Year – Individuals

    After the first year of implementing the changes made by the Tax Cuts and Jobs Act, we will review some of the new issues impacting individual and trust taxpayers. Revisions to IRS tax forms and instructions will also be covered.

    Dan Doiron
    Albin, Randall & Bennett
  • 8:55 AM - 9:45 AM

    Tax Reform Basics for the Qualified Business Income Deduction (Section 199A)

    The presentation will provide an IRS overview of the 199A provisions (including eligibility requirements, definitions and computation of the deduction), as well as a forms update and the provisions under Rev. Proc. 2019-138.

    Odette Turenne
    IRS
  • 9:55 AM - 10:45 AM

    TCJA Implementation After One Year – Businesses/199A

    Our discussion will focus on some of the more complex Section 199A areas as well as the other significant tax reform changes impacting business tax filings including Section 163j, partnership audit rules, and loss limitations.

    John Hadwen
    Baker Newman Noyes
    Josh Lapierre
    Baker Newman Noyes
  • 10:50 AM - 11:40 AM

    TCJA Implementation After One Year – Businesses/199A

    Our discussion will focus on some of the more complex Section 199A areas as well as the other significant tax reform changes impacting business tax filings including Section 163j, partnership audit rules, and loss limitations.

    John Hadwen
    Baker Newman Noyes
    Josh Lapierre
    Baker Newman Noyes
  • 12:45 PM - 1:35 PM

    Choice of Entity – A Practical Approach

    Chris Stevenson
    Drummond Woodsum
    Dan Gayer
    Baker Newman Noyes
  • 1:40 PM - 2:30 PM

    Tax Security 2.0 – A “Taxes-Security-Together” Checklist

    Maggie Romaniello
    IRS
  • 2:40 PM - 3:30 PM

    Maine Revenue Services 2019 Income/Estate Tax Update

    Daniel D'Alessandro
    Maine Revenue Services
    Jason Inman
    Maine Revenue Services
    Heather Popadak
    Maine Revenue Services
  • 3:35 PM - 4:35 PM

    Professional Conduct Scenarios

    We will explore practical issues arising under the tenets of Circular 230. They will highlight common situations that tax practitioners face and focus on the application of the Circular 230 rules.

    Justin Coffin
    UBS
    Timothy Woodhouse
    Aries Wealth Management

Online registration is encouraged.

Register now

If you plan to pay by check, please download the Registration Form and mail back with your check.

Maine Tax Workshops Advisory Team

We greatly appreciate the assistance of the Maine Tax Workshops Advisory Team in planning this agenda.  Their experience with the chosen topics was a great resource for the SCORE planning team.

William Bishop, EA – The Swanson Group
Justin Coffin, Financial Advisor – UBS Rockland Financial Group
Daniel Doiron, CPA,CVA, Principal – Albin Randall & Bennett
Jeff Hiatt, Director of New Business Development, MS Consultants
Annette Lease – Machias Savings Bank
Stuart Lyons, CPA, MST, MBA – Baker Newman Noyes
Heather Popadak, Director of Income & Estate Tax Division – Maine Revenue Services
Michael Santo, CPA, MBA, MST – WIPFLi Macpage
Shawn Savage, Senior Stakeholder Liaison, IRS
Christopher Stevenson, Esq. – Drummond Woodsum
Nelson Toner, Esq., Shareholder – Bernstein Shur Sawyer & Nelson
Jim Wade, Attorney, The Law Office of James D. Wade
Timothy Woodhouse, CPA, Attorney – Aries Wealth Management

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