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 13th Annual North Carolina, South Carolina, Georgia Tax Section Workshops

Fri.–Sun., May 23–25, 2014
Kiawah Island Golf Resort
East Beach Conference Center
Kiawah Island, SC


 
 
SC MCLE Credit: This program qualifies for 8.5 MCLE credit hours including up to 1.0 LEPR credit hour. This program also qualifies for 8.5 hours of Taxation Specialization credit and 6.5 hours of Estate Planning Probate Specialization credit

Planners
• G.P. Diminich, Smith Moore Leatherwood LLP, Charleston, SC
• Vivian D. Hoard, Taylor English Duma LLP, Atlanta, GA
• Robert H. (Rob) Wall, Spilman Thomas & Battle PLLC, Winston-Salem
 
Speakers
• David D. Aughtry, Chamberlain Hrdlicka, Atlanta, GA
• Lynn F. Chandler, Smith Moore Leatherwood LLP, Charlotte
• Eric R. Cheek, CPA, Shareholder, Elliott Davis PLLC, Charlotte
• Nancy Drummond, CPA, Senior Manager, Elliott Davis LLC, Greenville, SC
• David F. Golden, Troutman Sanders LLP, Altanta, GA
• Vivian D. Hoard, Taylor English Duma LLP, Atlanta, GA
• Richard C. Litwin, The Litwin Law Firm PC, Atlanta, GA
• Richard A. (Rich) Pelak, Culp Elliott & Carpenter PLLC, Charlotte
• Justin A. Thornton, Law Offices of Justin Thornton, Washington, DC
• Andrew W. Topka, The Blue Oak Group LLC, Charleston, SC
 Blake Wiley, Noble Royalties Inc., Addison, TX 


Agenda
Friday, May 23
8:00–8:25 a.m.           Registration and Continental Breakfast
8:25–8:30                    Welcome and Introductions
8:30–9:30                    Conservation Easements: IRS Points of Attack Hoard
                                      Dozens of tax court opinions have been issued since Kiva Dune Conservation, LLC was decided five                                                     years ago proving the IRS continues its attacks on this popular tax planning strategy. This                                                                         presentation will highlight the IRS audit strategy in a conservation easement case and                                                                                outline steps every practitioner can take to protect their clients before the audit begins.
9:30–11:00                 Tax Controversy ProcedureAughtry
                                      A review of the interplay between an audit, appeals, tax court, discovery and trial. This session focuses                                                 upon the mechanics, the strategy and the drama.
11:00–11:15               Break
11:15–12:00 p.m.      NC Tax Section Council Meeting
2:00                              Golf
6:30–7:30                    Networking Reception
                                      Sponsored by Brown Brothers Harriman Trust Company N.A. and Kiawah Island Golf Resort
 
Day One CLE Credit: 2.5 Hours
Saturday, May 24
8:00–8:30 a.m.            Continental Breakfast
8:30–9:30                     Criminal Tax ReviewThornton
                                       An update on recent developments in criminal tax law and procedure.
9:30–9:40                     Break
 
9:40–10:40                  “Medicare” Surtaxes: Over the Threshold and Down the Rabbit HoleChandler
                                        Once the taxpayer's modified adjusted gross income crosses the threshold, planning to avoid the                                                             3.8% Medicare surtax on "net investment income" may feel a bit like going down the                                                                                   proverbial "rabbit hole" where you find yourself going backwards when you want to go                                                                               forward, falling down when you try to go up, and falling up when you want to go                                                                                           down. However, there are techniques than can be employed to avoid                                                                                                             crossing the threshold and several types of income that are exempt                                                                                                                 from the tax once the threshold is breached. This presentation will                                                                                                                   focus on the types of income subject to the tax and those                                                                                                                                     planning techniques that can help reduce the impact of the tax.
10:40–10:45                Transition Break
10:45–11:45                *Changes to Circular 230 and Reliance on Tax OpinionsGolden
11:45–12:00 p.m.        NC Tax Section Annual Meeting • Michael J. Wenig, Tuggle Duggins PA, Greensboro, 2013–2014                                                         Section Chair, Presiding
 
Day Two CLE Credit: 3.0 hours, including 1.0 Ethics/Professionalism
Sunday, May 25
8:00–8:30 a.m.           Continental Breakfast
8:30–9:30                    Breakout Sessions
                                     The Changing Tax Landscape in North Carolina; Would You Relocate Your Business to North                                                            Carolina? A Comparative Approach Cheek
                                    • Significant tax law changes in North Carolina
                                    • Summary of comparison points in neighboring states
                                    • Analysis of attributes that make each state attractive from a tax standpoint
                                                ○ Tax rate differences
                                                ○ Tax structure efficiencies
                                                ○ Differences in tax credits available
                                                                        or
                                    South Carolina Property Tax – A CPA’s PerspectiveDrummond
                                    ACPA’s role with clients and attorneys when working with
                                    incentives, appeals and administrative issues; along with a brief comparison of NC/SC/GA property tax                                                 differences.
                                                                        or
                                    State Tax Litigation in Georgia – A Primer on the Tax Tribunal Act of 2012Litwin
                                    Effective January 1, 2013, taxpayers seeking to dispute a Georgia state tax liability can file a petition                                                        with the Georgia Tax Tribunal. The Georgia Tax Tribunal offers taxpayers an independent,                                                                        specialized agency separate from the Georgia Department of Revenue and authorized to                                                                          resolve disputes. The Tax Tribunal Act of 2012 provides the statutory framework for the                                                                              Tribunal’s operations. This session will address key provisions of the Tax                                                                                                      Tribunal Act of  2012, including background on the need for the Tax                                                                                                                 Tribunal, types of cases that can be filed with the Tax Tribunal, the                                                                                                                  Small Claims Division, the Rules of the Georgia Tax Tribunal and                                                                                                                    other procedural aspects of the Tax Tribunal.
9:30–9:45                   Break
9:45–10:45                 FBAR and PFIC CompliancePelak
                                     A detailed presentation on the Foreign Bank Account Report (FBAR) and
                                     FINCEN 114, as well as Passive Foreign Investment Company (PFIC) rules.
10:45–11:00              Break
 
11:00–12:00 p.m.    Tax-advantaged Income through Oil and Gas Royalty Ownership
                                    Topka and Wiley
                                    • Oil and Gas Royalties qualify for 1031 Like Kind Exchanges
                                    • Royalty owners can choose between cost depletion or percentage depletion
                                    each year
                                    • Royalties are the only investment that allow for depletion in excess of cost
                                    basis
 
Day Three CLE Credit: 3.0 hours
SC MCLE Credit: This program qualifies for 8.5 MCLE credit hours including up to 1.0 hour of
LEPR.
 
*Indicates portion providing Ethics/Professionalism credit
 
 
 
Tuition:
Overview/Why Attend? (± 100 words)
Please join tax attorneys from North Carolina, South Carolina, and Georgia to share knowledge, network, and learn about the latest audit and compliance initiatives of the Internal Revenue Service. In addition to federal tax law, each state will have their breakout session covering a topic of importance to their tax section membership. Finally, each state will have enough members present to hold a meaningful annual meeting of each State’s Tax Bar Section. So gather with other tax section members of your state and enjoy the opportunities that this seminar and Kiawah Island Gold Resort have to offer.
 
• Learn the latest IRS challenges to conservation easements.
• Get a better understanding of FBAR and PFIC Compliance.
• Hear the changes to Circular 230.
 
Key Benefits (cover) (3–5 bulleted items; 75–100 words total)
 
Program Highlights (mailer panel) (2–3 bulleted items; 20–30 words total)
• A presentation on the 3.8% “Medicare” surtax
• NC, SC and GA tax discussion
• Tax controversy procedure and criminal tax updates and review
• Tax-advantaged income through oil and gas royalty ownership

Hotel
Contact hotel directly for reservation & guest services • Rates based on availability •
occasionally room blocks fill before cutoff date • To guarantee your room at this special rate,
contact the hotel today and mention you are with the NC Bar Association
 
Kiawah Island Golf Resort
One Sanctuary Beach Drive • Kiawah Island, SC
 
Rates:                        $229 One Bedroom Scenic View Villa
                                    $248 Two Bedroom Scenic View Villa
                                    $291 Three Bedroom Scenic View Villa
                                    $396 Two Bedroom Ocean View Villa
 
Reservations:             (800) 654-2924 or 843-768-2121
                                   
Cutoff Date:                 May 1, 2014
 
Group Code:               11127
 
Sponsors (at time of printing)
 
Platinum
Brown Brothers Harriman Trust Company N.A. – Networking Reception
Kiawah Island Golf Resort – Networking Reception