The Chicago Tax Club
59th Annual Fall Seminar
October 22 and 23, 2012
REGISTRATION
Day 1: 7:15 AM to 8:45 AM
OPENING SESSION
Day 1: 8:45 AM to 10:15 AM
CPE hours: 1.5
Welcome and Housekeeping Anwar Atalla - Fall Seminar, Co-Chair
Opening Remarks - Carl Szajkovics, President - The Chicago Tax Club
Keynote Address
Topic
2012 General Election
Description
Our meeting will take place only two weeks before the 2012 General Election, and we can think of
no one more qualified to give us his predictions than Paul M. Green, Director of the Institute for
Politics and Arthur Rubloff Professor of Policy Studies at Roosevelt University, and the "Paul" of
WGN's "Paul and the Politicions". Paul studies current and past elections from every angle,
breaking down the electorate by geographical region, income level, ethnic background, age
group and any other way there is to isolate a voting bloc. He will bring us his insights into the
upcoming Presidential race, and his predictions on how the new House, Senate and the Illinois
General Assembly will look in January.
Speaker
Paul M. Green, Director of the Institute for Politics and Arthur Rubloff Professor of Policy
Studies at Roosevelt University
Moderator
Jim Olinski
CONCURRENT SESSIONS I: Federal Tax
Day 1: 10:30 AM to 11:45 AM
CPE hours: 1.5
Topic
Tax Accounting Methods Update: Focus on the "Repair Regulations"
Description
This session will provide coverage on the significant changes in the new tangible property
regulations also known as the "Repair" regulations. Discussion will cover not just the "repairs"
aspect of the proposed and temporary regulations but also the new disposition rules, the de
minimis rule, and the materials and supplies rules. The transition rules and lessons learned on
projects to date will also be discussed. A former U.S. Treasury Department official who served as
a key architect of the new regulations before joining KPMG will be co-presenting and providing
insight. Other recent relevant tax accounting method changes will be discussed.
Speakers
Violet Goodheart Partner, KPMG LLP
Eric Lucas, Principal, KPMG LLP
Moderator
Lenny Samczyk, Senior Tax Analyst, United Airlines
CONCURRENT SESSIONS I: International Tax
Day 1: 10:30 AM to 11:45 AM
CPE hours: 1.5
Topic
International Tax Update - Part 1
Description
There have been many significant developments in the U.S. taxation of international operations
and transactions this year. Jim Fuller will provide his valuable insights and practical applications of
the most important developments.
Speaker
Jim Fuller, Partner, Fenwick & West LLP
Moderator
Wes Cornwell, Principal, Ernst & Young LLP
CONCURRENT SESSIONS I: State Income, Franchise, Sales, Use & Property
Day 1: 10:30 AM to 11:45 AM
CPE hours: 1.5
Topic
The Good, The Bad and The Ugly, State and Local Tax 2012
Description
This presentation will cover the recent happenings in state and local tax. We will highlight the
Good things that happened for Taxpayers both judicially and legislatively. We will inform you on
the BAD issues that you should try to avoid. Finally, we will dissect the UGLY traps for taxpayers
and try to find a silver lining where possible We will also explore how taxpayers are fighting back
and dealing with aggressive state revenue collectors. We will look at the latest (and maybe not so
greatest) issues in nexus, business and nonbusiness income and apportionment issues. We will
discuss current litigation on a national basis with updates in the area of nexus, unitary filings,
treatment of partnerships and LLCs, business purpose and economic substance, business
income, apportionment issues and base and exemption issues for sales tax. We will also look at
some more obscure areas in SALT like Qui Tax cases and Unclaimed Property. And of course, we
will address any other topics that you wish to discuss.
Speakers
Marilyn Wethekam and Jordan Goodman, Horwood, Marcus and Berk Chartered
Moderator
Ken Lejkowski, Sears Holdings Corp.
CONCURRENT SESSIONS I: Tax Administration
Day 1: 10:30 AM to 11:45 AM
CPE hours: 1.5 Hours
Topic
Dont leave money on the table: How State Tax Credits & Incentives can help you.
Description
If you are changing your companies companys state footprint, making capital investments, hiring
employees, or acquiring, merging, disposing, or relocating companies, there are a number of state
and local tax credit & incentive opportunities to provide additional value to your organization. We
will discuss the issues facing the ever-changing credits and incentives environment, current
trends, and how to stay abreast of the developments in this unique area.
Speaker
Alice Nolen, Esq, - Experis Finance LLC, National Practice Leader - Tax Credits &
Incentives
Moderator
Scott Milnes, CPA - Tax Manager, Serta
LUNCHEON
Day 1: 12:00 PM to 1:45 PM
CPE hours: .5
Topic
The Music Business Yesterday, Today and Tomorrow Revisted
Description
Due to the innumerous request that Jim Peterik be brought back after his 2007 appearance at the
Chicago Tax Club, Jim Peterik returns to pick up where he left off. JIM PETERIK. Berwyn,
Illinois, singer / song writer / guitarist / keyboardist was the lead singer and writer of The Ides of
Marchs hit Vehicle and L.A. Goodbye, and co-wrote and co-produced the Grammy-winning
double-platinum number one pop hit Eye of the Tiger, which is the theme song from the
Sylvester Stallone movie Rocky 3, and Burning Heart from Rocky 4, performed by Peteriks band
Survivor. Peterik is also known for writing songs with .38 Special (Hold On Loosely, Rockin Into
the Night, etc.). He wrote and performed two songs on the Beach Boys 2012 release That's
Why God Made The Radio.
Jim will be giving his entertaining update about the music business as well as perform some
songs "unplugged".
Speaker
Jim Peterik
Moderator
Lenny Samczyk, Sr. Tax Analyst, United Airlines
CONCURRENT SESSIONS II: Federal Tax
Day 1: 2:00PM to 3:15 PM
CPE hours: 1.5
Topic
Passing Through the Code in M&A Transactions Using Subchapter K in Transactions In
the Domestic and International Contexts
Description
The panel discussion will feature experts in this area who will address various traps for the
unwary and opportunities for the well-advised that arise when partnerships are used in both
domestic and cross-border transactions.
On the domestic side, topics will include:
Using leveraged partnerships and avoiding the pitfalls created by the Canal decision
Freeze transactions and similar transactions designed to defer taxation
In the international context, topics coverage will include:
the allocation of foreign tax credits
the use of partnerships in repatriation planning
partnership aspects of the dual consolidated loss rules
use of leveraged partnerships with non-U.S. assets
application of treaties to partners and hybrid entities
international joint ventures.
Speakers
Richard Lipton, Partner, Baker McKenzie
Patricia McDonald, Partner, Baker McKenzie
John D McDonald, Partner Baker McKenzie
Moderator
John Zurales, Director of Taxes, United Stationers
CONCURRENT SESSIONS II International Tax
Day 1: 2:00PM to 3:15 PM
CPE hours: 1.5
Topic
International Tax Update - Part 2
Description
There have been many significant developments in the U.S. taxation of international operations
and transactions this year. Jim Fuller will provide his valuable insights and practical applications of
the most important developments..
Speaker
Jim Fuller, Partner, Fenwick & West LLP
Moderator
Wes Cornwell, Principal, Ernst & Young LLP
CONCURRENT SESSIONS II: State Income and Franchise
Day 1: 2:00PM to 3:15 PM
CPE hours: 1.5
Topic
The 2012 State Tax Agenda
Description
As the era of aggressive enforcement, cash starved state and local jurisdictions and gotcha
penalty regimes continues, effective management of multistate taxes is becoming even more
critical. This panel of state tax professionals will share their insights and winning strategies about
how their organizations successfully navigate the challenge.
Speakers
Archana Warner, Director, State and Local Taxes, Exelon Corporation
Denise Obrochta, Director, State and Local Taxes, Navistar
Mina Moradi Fumagalli, Sr. Manager of Tax, Redbox Automated Retail, LLC
Mike McMahon, State Tax Director, Groupon
Moderator
Jonathan M. Cesaretti, Senior Manager, Crowe Horwath LLP
CONCURRENT SESSIONS II: Sales, Use and Property Tax
Day 1: 2:00PM to 3:15 PM
CPE hours: 1.5
Topic
Sales Tax Issues for US Organizations Doing Business in Canada
Description
For US organizations doing or contemplating doing business in Canada, understanding Canadian
sales taxes is often a critical success factor. This session will provide an overview of sales tax in
Canada at both the federal and provincial levels. It will review key issues for US organizations
related to the registration, collection and recovery of tax. In addition, the session will highlight
significant upcoming changes for 2013 that organizations need to be aware of to effectively
manage their Canadian sales taxes going forward.
Speaker
Christina Zurowski, Veridical Tax Consulting
Moderator
Donna Hriljac, CCC Information Services Inc.
CONCURRENT SESSIONS II: Tax Administration
Day 1: 2:00PM to 3:15 PM
CPE hours: 1.5 Hours
Topic
Ethics Issues for State Tax Professionals (Part 1)
Description
This interactive session involves an in-depth discussion of the ethical standards and code of
conduct applicable to corporate tax professionals. It includes case studies and analyses of such
items as return positions, corrections of prior filings made in error, disclosure issues, and other
pertinent items which have an effect on the overall practice and performance of the state and local
tax professional. (Approval for CLE "Professional Responsibility" credit has been applied for.)
Speakers
Theodore R. (Ted) Bots, Partner, Baker & McKenzie, LLP
Jordan M. Goodman, Partner, Howood, Marcus & Berk
Marilyn A. Wethekam, Partner, Horwood, Marcus & Berk
Moderator
Ed Lennox
COFFEE BREAK: 3:15 PM to 3:45 PM
CONCURRENT SESSIONS III: Joint Federal / International Tax
Day 1: 3:45 PM to 5:00 PM
CPE hours: 1.5
Topic
Passing Through the Code in M&A Transactions Using Subchapter K in Transactions in
the Domestic and International Contexts (Part II)
Description
The panel discussion will feature experts in this area who will address various traps for the
unwary and opportunities for the well-advised that arise when partnerships are used in both
domestic and cross-border transactions.
On the domestic side, topics will include:
Using leveraged partnerships and avoiding the pitfalls created by the Canal decision
Freeze transactions and similar transactions designed to defer taxation
In the international context, topics coverage will include:
Speakers
the allocation of foreign tax credits
the use of partnerships in repatriation planning
partnership aspects of the dual consolidated loss rules
use of leveraged partnerships with non-U.S. assets
application of treaties to partners and hybrid entities
international joint ventures.
Richard Lipton, Partner, Baker McKenzie
Patricia McDonald, Partner, Baker McKenzie
John D McDonald, Partner Baker McKenzie
Moderator
John Zurales, Director of Taxes, United Stationers
CONCURRENT SESSIONS III: State Income and Franchise
Day 1: 3:45 PM to 5:00 PM
CPE hours: 1.5
Topic
Economic Nexus Has the Pendulum Swung in the Taxpayers Favor??
Description
An update on Economic Nexus and the impact of recent court cases including the ConAgra
Brands decision in West Virginia.
Speaker
David Kupiec, Kupiec & Martin, LLC
Natalie Martin, Kupiec & Martin, LLC
Moderator
Darren Lebiecki, Kraft Foods Group
CONCURRENT SESSIONS III: Sales, Use and Property Tax
Day 1: 3:45 PM to 5:00 PM
CPE hours: 1.5
Topic
Real & Personal Property Tax: Insights and Opportunities
Description
Real and personal property tax continue to impose a significant financial burden on companies in
various industries. This session will begin with an exploration of key strategies for achieving
reductions in real property taxation. This will include a review of the assessment, appraisal and
appeal processes for real property. In addition, purchase price allocation opportunities, economic
obsolescence based on plant capacity, identification of ghost assets, special tax treatment for
certain assets, and life studies will be presented in order to illustrate examples of winning
strategies and procedures in the realm of personal property taxation. After this session, you will be
able to recognize the value of reviewing your property tax filings and assessment notices as well
as the importance of facility-location tours in controlling your companys property taxes.
Speaker
Ellen Berkshire Verros, Lafakis & Berkshire, PC , Attorney at Law
Donald Lippert, Jr. Grant Thornton LLP, Director
Barbara Ricken Grant Thornton LLP, Manager
Moderator
Vytenis Kirvelaitis Grant Thornton LLP, Director
CONCURRENT SESSIONS III: Tax Administration
Day 1: 3:45 PM to 5:00 PM
CPE hours: 1.5 Hours
Topic
Ethics Issues for State Tax Professionals (Part 2)
Description
Continuation of the presentation by Ted, Jordan and Marilyn with additional case studies and
thought provoking interactive analyses. Jordan has several interesting surprises to challenge even
the most ethical professional.
Speakers
Theodore R. (Ted) Bots, Partner, Baker & McKenzie, LLP
Jordan M. Goodman, Partner, Howood, Marcus & Berk
Marilyn A. Wethekam, Partner, Horwood, Marcus & Berk
Moderator
Ed Lennox
RECEPTION
Day 1: 5:00 PM to 7:00 PM
BREAKFAST
Day 2: 7:00 AM to 8:30 AM
ANNUAL CLUB BUSINESS MEETING
Day 2: 7:45 AM to 8:30 AM
2012 Committee Reports Election of Officers and Directors for the Year 2013.
CONCURRENT SESSIONS IV: Federal Tax
Day 2: 8:45 AM to 10:00 AM
CPE hours: 1.5
Topic
IRS Audit Roundtable
Description
A multi-member panel will discuss the current IRS trends and impacts. The session will focus on
audit problem resolution, proper execution on information document requests (IDRs), and critical
careful question and answer management at the onset to ensure that items raised do not evolve
into issues. The panel will also discuss the recent IRS reorganization and its potential effects on
the audit process.
Speakers
John Jankowski, Retired Partner, KPMG
Lisa Coyne, Assistant Vice President, Arthur Gallagher
Rebecca Kline, Director Federal Audit and Tax Compliance, Abbott Laboratories
Richard W Goelz, Managing Director, PricewaterhouseCoopers Washington National
Services IRS Team
Rosalind Talarico, Director, Tax, Discover Financial Services
Moderator
Frank Nowinski, Retired, Abbott Laboratories
CONCURRENT SESSIONS IV: International Tax
Day 2: 8:45 AM to 10:00 AM
CPE hours: 1.5
Topic
Aligning Tax and Transfer Pricing Policies with the Business Supply Chain
Description
Aligning tax and transfer pricing policies with the business supply chain can have many benefits
including improved business and operating performance, co-located functions and assets,
reduced effective tax rate, and risk management. The presentation will cover how this can be
achieved through Tax Effective Supply Chain Management (TESCM) including the Subpart F
implications and repatriation challenges that are commonly implicated in these operating models.
Speakers
Anna Voortman, Partner, Ernst & Young LLP
Rebecca Coke, Principal, Ernst & Young LLP
Moderator
TBD
CONCURRENT SESSIONS IV: State Income and Franchise
Day 2: 8:45 AM to 10:00 AM
CPE hours: 1.5
Topic
Gillette and the Compact Law that Could and Did
Description
In its taxpayer favorable ruling (albeit temporary), the California Court of Appeals relied on
interstate compact laws to find that California could not set aside its statutory enactment of the
equally-weighted three-factor Multistate Tax Compact apportionment formula without formally
withdrawing from the Compact. In this session, Mike Wynne and Marty Dakessian join us from
Reed Smith LLP to discuss the Gillette decision, even in light of the Courts subsequent motion
denying taxpayer, the impact to taxpayers in California and other states, the impact to special
industries, the future of the Multistate Tax Commission and attempts elsewhere with regard to tax
uniformity, and whether there are other non-tax laws taxpayers should consider as a basis for tax
planning.
Speaker
Mike Wynne and Marty Dakessian, Reed Smith LLP
Moderator
Denise Obrochta, Navistar
CONCURRENT SESSIONS IV: Sales Use and Property Tax
Day 2: 8:45 AM to 10:00 AM
CPE hours: 1.5 Hours
Topic
Sales & Use Tax Software Panel Discussion
Description
The efficiencies to be gained by choosing and properly implementing the right Tax software
solution can not be understated. This panel discussion will provide valuable insights and
knowledge from software vendors as well as industry representatives. Please plan to bring your
own experiences and questions to this interactive session.
Speakers
Jeff Cohen, Vice President of Compliance, Avalara
Tony Levatino, Director of US Indirect Tax, Quad/Graphics
Cheryl Mita, Corporate Tax Manager, Anixter
Dan ORourke, Indirect Tax Services Senior Manager, CCH
Ron Veerhaalen, CIO & Technology Risk Services Director, R&M Consulting
Lenore Vidal, Director of Tax, Forsythe Technologies
Moderator
Jim Tauber, Managing Director, WTAS LLC
CONCURRENT SESSIONS IV: Tax Administration
Day 2: 8:45 AM to 10:00 AM
CPE hours: 1.5 Hours
Topic
Job Hunting Tips and How to Market Yourself
Description
Jana, Geremy and David have agreed to join us again to discuss the current job market and
explain the key resources available in this current environment. Their combined experience of
over 70 years gives them a key perspective on how and where to network to make sure you
identify the companies and the positions that best fit your skills and experience. This session is a
must for everyone because you don't know when you will need to be job hunting again.
Speakers
Jana Carpenter, Managing Director, Experis
Geremy Cepin, Practice Director & Executive Search, Koltin Consulting Group
David Keeney, Founder, Keeney & Company
Moderator
Scott Milnes, CPA, Tax Manager, Serta
COFFEE BREAK
Day 2: 10:00 AM to 10:15 AM
CONCURRENT SESSIONS V: Federal / International Tax
Day 2: 10:15 AM to 11:30 AM
CPE hours: 1.5
Topic
Accounting for Income Taxes for International Operations
Description
This strategic and focused session will provide a primer on the complexities and considerations of
accounting for income taxes on foreign operations. Coverage will include a comprehensive range
of key topics ranging from US GAAP reporting issues and APB 23 to foreign tax credit
implications.
Speaker
Ken Kuykendall, Partner, US Tax Accounting Leader, PWC
Luke Cherveny, Director, PWC
Moderator
Erik Bilbrey, Tax Accounting Manager, United Airlines
CONCURRENT SESSIONS V: State Income and Franchise and Sales, Use and Property Tax
Day 2: 10:15 AM to 11:30 AM
CPE hours: 1.5
Topic
Department of Revenue Update Illinois and New York
Description
Representatives from Illinois and New York will discuss the state of their respective states,
including current hot topics and audit issues, as well as take questions from the audience.
Speakers
Steve Carnevale, New York State
Roger Koss, Illinois Department of Revenue
Moderators
Kevin Mullen, Cenveo
John Easterday, Alvarez & Marsal
CONCURRENT SESSIONS V: Tax Administration
Day 2: 10:15 AM to 11:30 AM
CPE hours: 1.5
Topic
Got Profile? Get Found! | What Your LinkedIn Profile Can Do For You
Description
Google, Yahoo and Bing rank LinkedIn Profiles at the top of page one search return always
thats how important they are. With over 175 million members, representing more than 200
countries worldwide, including executives from all Fortune 500, LinkedIn profiles can potentially
make or break your: job search, business networks and new client development thats how
powerful they are. In this session you will learn: How you can use LinkedIn to your advantage.
Jump start your efforts to build a polished profile and Why LinkedIn isnt just about a job search
anymore.
Speakers
JJ Rusch, Publisher & Marketing Visionary - Multi Edge Media LLC
Moderator
George Kyroudis, Director & Midwest Tax Practice Leader - Experis Finance
CONCURRENT SESSIONS VI: Federal Tax
Day 2: 11:45 AM to 1:00 PM
CPE hours: 1.5 Hours
Topic
Internal Controls Environment From a Tax Perspective
Description
In the current environment, internal controls risk are being evaluated by both external auditors and
the C-Suite within corporations. Given the intense scrutiny surrounding internal controls, our
presenters will identify best practices in building an effective internal control environment, discuss
common trends encountered, and provide in-depth insights and practical examples with respect to
the critical factors involved in assessing internal controls risk, identifying practical remediation
strategies, and describe various traps for the unwary.
Speaker
John Bennecke, Managing Director, True Partners Consulting LLC
Jim Hedderman, Director, True Partners Consulting LLC
Jennifer Lau, Senior Manager, True Partners Consulting LLC
Moderator
Rosalind Talarico, Director, Tax, Discover Financial Services
CONCURRENT SESSIONS VI: International Tax
Day 2: 11:45 AM to 1:00 PM
CPE hours: 1.5
Topic
Harmonizing Transfer Pricing and Customs Valuation: Roadmap for the Future
Description
U.S. Customs new policy on transfer pricing and post-importation adjustments became effective
on July 30, 2012. The new policy allows import values for related party sales to be based on a
transfer pricing formula, and now permits transfer pricing adjustments to be recognized as part
of the transaction value formula which adjustments must now be reported to U.S. Customs.
However, specific rules and documentation requirements apply. This session will examine the new
rules in detail and offer suggestions for designing and implementing an in-house compliance
program to maximize the potential benefits of U.S. Customs new policy.
Speaker
Damon Pike, President, The Pike Law Firm, P.C.
Moderator
Christopher Desmond, Managing Director, Ceteris US, LLC
CONCURRENT SESSIONS VI State Income and Franchise
Day 2: 11:45 AM to 1:00 PM
CPE hours: 1.5
Topic
Lone Star Updates: What is going on with the Texas Margins tax?
Description
The session will discuss trends in Texas Franchise Tax (a.k.a. Texas Margins Tax) audits and
assessments, current cases pending regarding the TX Margins tax, and potential changes in
changes to the TMT by the Texas Legislature in 2013 and after.
Speakers
Karey Barton, Ryan
Moderator
Dorice Pepin, WTAS LLC
CONCURRENT SESSIONS VI: Sales, Use and Property Tax
Day 2: 11:45 AM to 1:00 PM
CPE hours: 1.5
Topic
SALT Legislative updates
Description
Join us for a review of the growing number of significant legislative developments affecting Sales
& Use Tax compliance and planning, including:
Federal Sales Tax initiative
Affiliate Nexus and Click Through Nexus laws
Streamlined Sales Tax Agreement
Speakers
Dominic Greco, Director/Sales & Use Tax, Deloitte Tax LLP
Robyn Staros, Senior Manager/Sales & Use Tax, Deloitte Tax LLP
Moderator
Roger Soloway, CTC Sales/Use/Property Tax Committee
CONCURRENT SESSIONS VI: Tax Administration
Day 2: 11:45 AM to 1:00 PM
CPE hours: 1.5 Hours
Topic
Next Generation Tax Technology: Driving Value for the CFO by Focusing On the Data
Description
While there is no That Was Easy button when it comes to the tax function, have you been
striving for it? Getting proper data in an efficient and effective way out of the organization is the
key challenge facing many tax departments. The positive long-term impact of adopting tax
technology to address this challenge should no longer be ignored. In this interactive session, the
discussion will center around how tax technology empowers tax leaders to develop their strategic
potential as advisors to finance and the business at large. Attend this session to better
understand how tax technology drives transparency and provides a platform for efficient and
effective tax data management, deeper analysis and decision-making. Leave this session
inspired to approach your finance department about tax technology advancements.
Speakers
Chris Carlstead, President Tax, Longview
Jessica Downes, Solution Consultant, Longview
Anna Maria Sever, Solution Consultant, Longview
Moderator
Jim Hedderman, Director, True Partners Consulting LLC
LUNCHEON
Day 2: 1:00 PM to 2:45 PM
CPE hours: .5
Honors the 2012 Committee Chairpersons of the Chicago Tax Club
Topic
Secrets of the Frequent Traveler Revealed
Description
Csilla Dali and other representatives from the Midwest American Society of Travel Agents will
discuss and share tips, strategies and tactics used by frequent travelers to taking out the hassle of
business and personal travel, dealing with unexpected problems and show you how to really
enjoy planning for that next trip. Needless to say, the Question and Answer segment of the
presentation will be interesting and informative.
Speaker
Csilla Dali, 1st Vice President - Midwest Chapter - American Society of Travel Agents
Moderator
Jim Matousek
WRAP UP SESSION
Day 2: 2:45 PM to 3:30 PM
