Introduction to International Taxation (presented by NYU School of Professional Studies) [Day 2]

Summer Ayers LePree, Esq
Michael J. Miller, Esq.
Jeffrey Rubinger, Esq.
David G. Shapiro
Kieran Taylor
Lucas Giardelli
William B. Sherman, Esq.
John D. Bates
Jason Robertson
Jeffrey S. Levin
Martin T. Hamilton
Joseph Calianno
Thomas M. Giordano
Alan I. Appel
Summer Ayers LePree, Esq | Baker Mckenzie LLP
Michael J. Miller, Esq. | Agostino & Associates
Jeffrey Rubinger, Esq. | Bajer McKenzie LLP
David G. Shapiro | Saul Ewing ARNSTEIN & LEHR LLP
Kieran Taylor | KPMG
Lucas Giardelli | Mayer Brown
William B. Sherman, Esq. | Holland & Knight
John D. Bates | Deloitte
Jason Robertson | Deloitte
Jeffrey S. Levin | Squire Patton Boggs
Martin T. Hamilton | Proskauer
Joseph Calianno | Andersen
Thomas M. Giordano | Karlin & Peebles, LLP
Alan I. Appel | New York Law School
Live Video-Broadcast: July 11 - 13, 2022
Introduction to International Taxation (presented by NYU School of Professional Studies) [Day 2]
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Program Summary

The Introduction to International Taxation Conference provides a broad-based foundation in the federal income taxation of cross-border (both “inbound” and “outbound”) transactions and circumstances.

Co- Chairs: William B. Sherman, Esq., Partner, Holland & Knight, Fort Lauderdale, FL, and Michael J. Miller, Esq., Partner, Roberts & Holland, New York, NY

Key topics to be discussed:

  • Us Taxation of Foreign Persons
  • Tax Treaty Primer — An Overview of Tax Treaties And Tax Treaty Planning Techniques
  • Transfer Pricing Basics
  • Controlled Foreign Corporations
  • Passive Foreign Investment Companies
  • Basics Of International Tax Compliance And Related Ethical Considerations
  • Direct And Indirect Foreign Tax Credit And Foreign Tax Credit Limitation
  • Outbound Transfers: Section 367 And Inversions
  • Planning For Foreign Individual Investing In Or Moving To The Us
  • Case Studies For Outbound And Inbound Investment

Date / Time: July 11 - 13, 2022

  • 8:45 am – 4:30 pm Eastern
  • 7:45 am – 3:30 pm Central
  • 6:45 am – 2:30 pm Mountain
  • 5:45 am – 1:30 pm Pacific

 

Closed-captioning available

Speakers

Summer-Ayers-LePree,-Esq_Baker-Mckenzie-LLP_myLawCLESummer Ayers LePree, Esq | Baker Mckenzie LLP

Summer LePree is a partner in Baker McKenzie’s Tax Practice Group. Summer is a go-to lawyer for clients who need sophisticated, creative, international tax counsel. Summer is a frequent speaker and author on a variety of cross-border income tax issues, is actively involved in the ABA Tax Section, where she currently serves as the Council Director for the International Committees, and teaches as an adjunct professor for the graduate tax programs at the University of Florida and the University of Miami Law Schools.

Practice Focus

Summer’s practice is focused on advising US and foreign-based public and private companies in connection with their inbound and outbound US international tax planning. She constantly monitors developments in US and global tax laws, and thoughtfully advises clients on the relevant implications to their businesses. Summer regularly assists clients with Subpart F, GILTI, and FDII planning, FIRPTA issues, treaty planning and analysis, and overall structuring for tax optimization.

 

Michael J. Miller, Esq._Agostino & Associates_myLawCLEMichael J. Miller, Esq. | Agostino & Associates

Michael J. Miller, a partner in Roberts & Holland LLP’s New York office, works with U.S. and foreign based multinationals, as well as individuals, on a wide ange of tax issues pertaining to their cross-border activities.

Michael is co-author of the BNA Portfolios entitled U.S. Income Tax Treaties – The Limitation on Benefits Article and U.S. Taxation of International Shipping and Air Transport Activities. He is an editor of the International column for the Journal of Taxation and a member of the Advisory Boards of the International Tax Journal and Tax Management – U.S. International. Michael is a former Chair of the American Bar Association Committee on the U.S. Taxation of Foreigners and Tax Treaties and of the New York City Bar Committee on Taxation of Business Entities. He speaks and writes frequently on international tax matters.

Michael received his B.A. cum laude from Columbia College and his J.D. from New York University Law School. He clerked on the U.S. Tax Court for the Honorable James S. Halpern from 1991-1993

 

Jeffrey Rubinger, Esq._Bajer McKenzie LLP_myLawCLEJeffrey Rubinger, Esq. | Bajer McKenzie LLP

Jeffrey Rubinger is a partner in Baker McKenzie’s Tax Practice Group. A skilled legal practitioner with more than 20 years of international tax experience, he also served for many years as a certified public accountant at a major accounting firm, giving him a unique and thorough understanding of the business issues his clients face every day. Jeff has been recognized as one of America’s leading tax lawyers by Chambers USA.

Practice Focus

Jeff is known worldwide as the lawyer to seek out when companies require a creative, sophisticated solution to a complex international tax situation. From US companies expanding overseas to foreign businesses investing in the United States, clients turn to Jeff for his extensive knowledge of the tax laws in a wide variety of jurisdictions, including countries in South America, Europe, Asia, and the Middle East. Jeff is distinctive in Florida for his significant experience with outbound matters.

 

David G. Shapiro_Saul Ewing ARNSTEIN & LEHR LLP_myLawCLEDavid G. Shapiro | Saul Ewing ARNSTEIN & LEHR LLP

David Shapiro advises clients on international and domestic business tax planning, including domestic and cross border expansion, joint ventures, mergers, acquisitions, and financing transactions.

David’s practice includes entity formation and structure planning, securities offerings and hybrid financings, joint ventures, and strategic acquisitions and dispositions. Where appropriate, David works with counsel in other jurisdictions to develop efficient cross-border transactional and operational structures. He also assists clients in preparing for and defending against audits and other litigated matters.

Prior to joining Saul Ewing Arnstein & Lehr, David founded and was Managing Member of Shapiro Tax Law LLC, and prior to that was a tax partner of Dechert LLP.

 

Kieran Taylor_KPMG_myLawCLEKieran Taylor | KPMG

Transfer Managing Director specializing in global pricing redesigns, US / OECD documentation delivery, tax rate reduction planning, inter-company financing analysis, US to US fair market value payments and start-up structure design. Llb (Hons) / Corporate and Taxation Law from Edinburgh University.

 

Lucas Giardelli_Mayer Brown_myLawCLELucas Giardelli | Mayer Brown

Lucas Giardelli is a Tax Transactions & Consulting partner in Mayer Brown’s New York office. His practice is focused on international tax planning for US and non-US multinational companies (including cross-border restructurings and financings, IP planning, post-acquisition integration) and corporate tax matters, advising clients on the tax aspects of acquisitions, divestitures, financing arrangements and other transactions. He also has experience advising high-net worth individuals on international tax matters. Prior to joining Mayer Brown, Lucas practiced tax law at a leading law firm in Argentina.

 

William-B.-Sherman,-Esq_Holland-&-Knight_myLawCLEWilliam B. Sherman, Esq. | Holland & Knight

Practices: Taxation | International and Cross Border Transactions | Hospitality, Resort and Timeshare | Mergers and Acquisitions | Corporate Services | Offshore Tax Compliance | Insurance Transactions and Regulatory | Insurance Disputes – Insurers | Insurance Disputes – Policyholders | Latin America Practice | Israel Practice | Securitization.

Client Sectors: Transportation & Infrastructure

William B. Sherman serves as chair of the firm’s Tax Team and concentrates his practice in the area of domestic and international taxation. He provides sophisticated tax planning for mergers and acquisitions, restructurings, joint ventures and investments for clients in diverse industries, such as hospitality, petrochemicals, aluminum, tobacco, real estate, transportation, telecommunications, retailing, investment management, pharmaceuticals and numerous others. In addition, Mr. Sherman has experience in a broad range of transactions involving United States investment overseas, foreign investment in the U.S., as well as international, federal, state and local taxation issues involving structuring investment management funds, corporate reorganizations, partnerships, equipment leasing, Subchapter S, executive compensation, stock options, and trusts and estates.

Mr. Sherman is a well known lecturer and chairs the New York University’s Summer Institute in Taxation’s Introductory and Advanced International Tax Seminars and its Institute on Federal Taxation International Tax Program. Mr. Sherman is also an adjunct professor of Tax Law at the University of Miami, Graduate Tax Program. He is admitted to practice in New York and Florida and has served on numerous panels with The Florida Bar and the American Bar Association, where he is a past chair of the American Bar Association’s Tax Section Committee on U.S. Activities of Foreigners and Tax Treaties.

Experience

Tax Structuring: advised on the tax structuring of the domestication of a foreign company engaged in U.S. government contracting work and its transition to domestic ownership; this tax structure enabled the company to retain its status in its home country.

Tax Structuring: advised on the tax structuring of a $200 million-plus investment in four venture real estate developments projects on an island in the Caribbean, resulting in a minimization of local and U.S. tax liability.

State Taxation: advised a foreign-based company on U.S. state tax issues, from tax rulings and tax registrations to minimization of overall tax consequences involving multiple states, in the context of the company’s restructuring and expansion of business in U.S. markets.

 

John D. Bates_Deloitte_myLawCLEJohn D. Bates | Deloitte

John advises clients across many industries on inbound and outbound international tax matters, focusing on cross-border planning and transactions. He previously was a partner and the leader of the international tax practice at a large law firm.

John is an adjunct professor at Georgetown University Law Center, teaching international tax, and is or has been an officer of the American Bar Association, the International Fiscal Association, and the International Tax and Finance Forum. He frequently speaks on international tax matters.

John earned a BA in mathematics and economics from University of Virginia, a JD from University of Virginia School of Law, and an LLM in taxation from Georgetown University Law Center.

 

Jason Robertson_Deloitte_myLawCLEJason Robertson | Deloitte

Jason specializes in advising US and foreign-based multinationals on a broad range of international tax matters. He is also a member of the Deloitte Tax Cryptocurrency Working Group. Prior to joining Deloitte, he was the director of international tax at a Fortune 500 manufacturer, where he focused on planning, implementing, reporting, and defending various cross-border transactions. Jason also spent time as a senior manager in the tax planning group of a Fortune 500 biotechnology company, where he supported the company’s Puerto Rican manufacturing and worldwide treasury operation.

Jason is a frequent speaker at tax events, including those sponsored by Deloitte, Bloomberg BNA, and Manufacturers Alliance for Productivity and Innovation. He is a past member of the AICPA Technical Resource Panel on International Tax. He is also a regular contributor to Deloitte Tax publications.

Jason holds a BA from University of Michigan and a Master of Business Taxation and JD from University of Southern California.

 

Jeffrey S. Levin_Squire Patton Boggs_myLawCLEJeffrey S. Levin | Squire Patton Boggs

Jeffrey Levin’s practice includes federal, state and local taxation; estate planning, trusts and estates administration; charitable giving; and succession planning for closely held businesses.

His practice concentrates on income, estate and gift tax planning for US and non-US clients and the use of domestic and foreign trusts. His US tax practice also includes guidance on various individual, entity and fiduciary state and local income and sales and use tax compliance considerations.

 

Martin T. Hamilton_Proskauer_myLawCLEMartin T. Hamilton | Proskauer

Martin T. Hamilton is a partner in the Tax Department. He primarily handles U.S. corporate, partnership and international tax matters.

Martin’s practice focuses on mergers and acquisitions, cross-border investments and structured financing arrangements, as well as tax-efficient corporate financing techniques and the tax treatment of complex financial products. He has experience with public and private cross-border mergers, acquisitions, offerings and financings, and has advised both U.S. and international clients, including private equity funds, commercial and investment banks, insurance companies and multinational industrials, on the U.S. tax impact of these global transactions.

In addition, Martin has worked on transactions in the financial services, technology, insurance, real estate, health care, energy, natural resources and industrial sectors, and these transactions have involved inbound and outbound investment throughout Europe and North America, as well as major markets in East and South Asia, South America and Australia.

 

myLawCLE-Logo-2Joseph Calianno | Andersen

Joe Calianno is a Managing Director in the US National Tax practice in the Washington D.C. office. He advises clients on all areas of international tax, including provisions related to the Tax Cuts and Jobs Act and cross-border restructuring.

Prior to joining Andersen, Joe spent several years as a partner at BDO and Grant Thornton, where he served as the International Technical Tax Practice Leader in both firm’s national tax offices.

Joe also previously served as Special Counsel to the Deputy Associate Chief Counsel (International) in the office of Chief Counsel, Internal Revenue Service. As Special Counsel, he was a technical advisor to the Associate and Deputy Associate Chief Counsel International and was involved in reviewing international tax regulations, revenue rulings, Notices, TAMs, PLRs, and providing technical advice to the IRS field offices. He also practiced with PWC’s National Tax office and Miles & Stockbridge, a large law firm.

Joe has been a guest lecturer at New York University Law School in the Graduate Tax Program (International Business Transactions class) and an adjunct faculty member at Georgetown Law School in the Graduate Tax Program.

Joe is a frequent speaker on international and corporate tax issues. He has spoken for organizations such as the ABA, AICPA, Atlas, BNA, DC Bar, Dallas Bar, Federal Bar, GW/IRS, Houston International Tax Forum, IFA, NYU Advanced International Tax Institute, Practising Law Institute, TEI, St. Louis International Tax Group, USD School of Law/Procopio International Tax Institute, Wall Street and World Trade Council tax conferences.

He has also published articles for national journals and organizations such as CCH Incorporated, International Tax Review, RIA’s Journal of International Taxation, Revue d’Intelligence Artificielle (RIA) Journal, Practising Law Institute, Tax Notes International, Tax Management International Journal, Tax Management Memorandum and The Tax Adviser.

Joe is both a Certified Public Accountant and attorney.

 

Thomas-M.-Giordano_Karlin-&-Peebles,-LLP_myLawCLEThomas M. Giordano| Karlin & Peebles, LLP

Thomas Giordano-Lascari is a partner with the firm. Thomas’s practice focuses primarily on advising high-net-worth individuals and closely held businesses in connection with international income tax and estate planning issues. A significant portion of Thomas’s practice involves advising global families with respect to structuring and reorganizing multinational businesses to minimize worldwide taxes. Thomas also regularly advises clients regarding pre-immigration planning, foreign investment in the United States, U.S. residency planning and management, and expatriation planning.

Thomas regularly advises foreign fiduciaries regarding foreign trusts with U.S. beneficiaries and grantors, including advice regarding compliance obligations and tax consequences. Thomas also advises U.S. beneficiaries and grantors of foreign trusts of their compliance obligations and the tax consequences of their relationship with the trust.

 

Alan-I.-Appel_New-York-Law-School_myLawCLEAlan I. Appel | New York Law School

Alan Appel is a professor of law and the director of the International Tax Program at New York Law School. He teaches courses in international tax planning and corporate taxation in addition to the tax transactions clinic. Professor Appel first started teaching at New York Law School in 2009 as an adjunct professor. As a senior tax consultant at Bryan Cave, he specializes in international and domestic tax planning involving taxation of mergers and acquisitions, partnerships, joint ventures, limited liability companies and tax controversy matters.

Professor Appel began his career as a trial attorney in the Office of Chief Counsel, Internal Revenue Service in Washington, D.C., and New York City. On behalf of the American Bar Association Tax Section, he had primary responsibility for drafting and submitting comments to the U.S. Treasury Department and IRS concerning the scope of the guidance provided by the proposed regulations under Section 1446 of the Internal Revenue Code and also was asked by the Office of the Chief Counsel to train its attorneys on this issue. He also published two articles on the Section 1446 regulations in the Journal of International Taxation, a third article in the Tax Management Memorandum and a fourth article in the Tax Management International Journal.

Professor Appel has appeared on both radio and television discussing various income tax issues. He was also recently featured in “Taxpayers Strained by New FATCA Requirements” in AccountingToday.com, a leading provider of online business news for the tax and accounting community, concerning the Foreign Account Tax Compliance Act.

Professor Appel received his J.D. from New York Law School in 1976 and his LL.M. from New York University in 1980. He received his B.B.A. from Baruch College in 1973.

Agenda

DAY 1: MONDAY, JULY 11, 2022

Us Taxation of Foreign Persons – Summer Ayers LePree, Esq., Michael J. Miller, Esq., and Jeffrey Rubinger, Esq. | 8:45am – 10:15am

This session covers the rules governing source of income; US trade or business; effectively connected income; FDAP income; withholding taxes; FIRPTA; branch profits tax; branch level interest tax; earnings-stripping; anti-conduit financing; and the base erosion anti-abuse tax (BEAT).

Break | 10:15am – 10:30am

Us Taxation of Foreign Persons – Summer Ayers LePree, Esq., Michael J. Miller, Esq., and Jeffrey Rubinger, Esq. | 10:30am – 12:00pm

This session covers the rules governing source of income; US trade or business; effectively connected income; FDAP income; withholding taxes; FIRPTA; branch profits tax; branch level interest tax; earnings-stripping; anti-conduit financing; and the base erosion anti-abuse tax (BEAT).

Lunch Break | 12:00pm – 1:15pm

Tax Treaty Primer — An Overview of Tax Treaties And Tax Treaty Planning Techniques – David Shapiro, Esq. | 1:15pm – 2:45pm

Tax treaties modify the statutory tax rules affecting cross-border taxation. This session explores the typical provisions of such treaties, who is eligible to benefit under a treaty, and how a treaty modifies the tax rules that would otherwise apply.

Break | 2:45pm – 3:00pm

Transfer Pricing Basics – Kieran Taylor | 3:00pm – 4:30pm

Cross-border transactions between related persons are subject to the transfer pricing rules of Section 482. This session addresses the general rules of Section 482 and the specific applications of those rules to certain categories of transactions, including transfers of tangible and intangible property; and services and loans. The session also explores the economic analysis relevant to transfer pricing; correlative relief; and cost sharing agreements.

 

DAY 2: TUESDAY, JULY 12, 2022

Controlled Foreign Corporations – Lucas Giardelli, Esq., William B. Sherman, Esq. | 8:45am – 10:15am

Subpart F is the principal anti-deferral regime of the Internal Revenue Code providing for taxation of US shareholders of controlled foreign corporations (CFC). This session explores the definitions of a CFC and US shareholder; the types of subpart F income; exceptions and limitations on subpart F income; Section 956 inclusions; and distributions of previously taxed income. The session also addresses the addition of the “GILTI” rules to the Subpart F regime.

Break | 10:15am – 10:30am

Controlled Foreign Corporations – Lucas Giardelli, Esq., William B. Sherman, Esq. | 10:30am – 12:00pm

Subpart F is the principal anti-deferral regime of the Internal Revenue Code providing for taxation of US shareholders of controlled foreign corporations (CFC). This session explores the definitions of a CFC and US shareholder; the types of subpart F income; exceptions and limitations on subpart F income; Section 956 inclusions; and distributions of previously taxed income. The session also addresses the addition of the “GILTI” rules to the Subpart F regime.

Lunch Break | 12:00pm – 1:15pm

Passive Foreign Investment Companies – John D. Bates, Esq., Jason Robertson, Esq. | 1:15pm – 2:45pm

The US taxation of US persons who are shareholders of passive foreign investment companies (PFIC) is complex and often misunderstood. This session covers the definitional provisions of the PFIC rules and the alternative methods of taxation of US shareholders of a PFIC.

Break | 2:45pm – 3:00pm

Basics Of International Tax Compliance And Related Ethical Considerations – Jeffrey S. Levin | 3:00pm – 4:30pm

Reporting and disclosure are the fundamental tools used by governments to enforce their domestic tax laws. In recent years, the laws requiring reporting and disclosure have been dramatically expanded and the penalties for failure to comply with such laws have been substantially increased. This session details the numerous US reporting and disclosure obligations applicable to international investment and transactions and the penalties for failure to comply. The session also addresses ethical issues confronted by taxpayers with compliance problems and their tax advisors.

 

DAY 3: WEDNESDAY, JULY 13, 2022

Direct And Indirect Foreign Tax Credit And Foreign Tax Credit Limitation – Martin T. Hamilton | 8:45am – 10:15am

The US imposes worldwide taxation on US citizens, residents, and US business entities. This session explores how the provisions of Sections 901, 904, and 960 provide for, and limit the ability of such US taxpayers to claim, tax credits for foreign taxes that they pay directly and indirectly.

Break | 10:15am – 10:30am

Outbound Transfers: Section 367 And Inversions – Joseph M. Calianno | 10:30am – 12:00pm

The rules of Sections 367 and 7874 are intended to curb the ability of US taxpayers transfer to a foreign corporation US assets and stock in transactions that would otherwise qualify under US tax law as tax-free, and to prevent US business entities from inverting and becoming foreign owned. This session provides an overview of the mechanisms of both Sections 367 and 7874 and the consequences of failing to satisfy their requirements.

Lunch Break | 12:00pm – 1:15pm

Planning For Foreign Individual Investing In Or Moving To The Us – Thomas M. Giordano-Lascari, Esq., Michael J.A. Karlin, Esq. | 1:15pm – 2:45pm

Foreign individuals who invest in or move to the US are confronted with structuring and planning to minimize US income and estate and gift taxation, as well as integrating the US rules with their home country tax rules. This session addresses the application of the US rules and planning considerations for such foreign individuals.

Break | 2:45pm – 3:00pm

Case Studies For Outbound And Inbound Investment – Alan I. Appel, Esq., Michael J. Miller, Esq., and William B. Sherman, Esq. | 3:00pm – 4:30pm

This session incorporates the disparate rules covered in the preceding sessions into case studies dealing with both outbound and inbound investment scenarios and provides a review of the material covered during the entire program