Tax Con Agenda

Concurrent Session #1

1-TaxFederal Tax Update: Inflation Reduction Act and Revisit of the Tax Cuts and Jobs Act

• Overview of the Inflation Reduction Act.
• Changes to IRC Section 163(j): Interest Expense Limitation.
• Review of IRC Section 174: Mandatory Capitalization of Research and Experimental Expenses.

1-TaxTax Professional Resources

• Learn how to best interact with the Department of Revenue.
• Understand how to use the myPATH portal for self-service and find the most efficient ways to manage your clients’ tax accounts.

Concurrent Session #2

1-TaxFederal Tax Updates

• Current business entity tax issues.
• Current individual tax issues.
• Current tax legislation occurring during the period.
• Other issues affecting the profession, including IRS procedure, current cases, payroll, and other federal tax issues.

1-OtherAdministrative Appeals: Appeal Process in Pennsylvania

• Review Pennsylvania’s administrative appeals process.
• Review types of appeals.
• Review timing and due dates for timely appeals.
• Review current issues commonly appealed.

Concurrent Session #3

1-A&AThe R&D Credit: Updates and Impact of Section 174

• Discuss Section 41 expenses definition and qualifications, including recent case law updates.
• Discuss Section 174 definition and qualifications.
• Review the major changes from the TCJA for tax year 2022 and beyond.
• Analyze how the changes impact businesses.
• Provide recommendations and help set expectations.

1-TaxPhiladelphia Tax Update

• What you need to know about customer service.
• Latest updates to the Philadelphia Tax Center.
• Overview of latest enforcement news.
• Legislative, regulatory, and policy developments.
• Personnel changes at Revenue.

1-Tax2023 International Tax Update

This session will provide an update on recent international tax developments including:

• Overview and update on BEPS Pillar 2.
• IRS Notice 2023-55 foreign tax credit guidance.
• Moore v. United States.

Concurrent Session #4

1-TaxRecent Development in Tax Accounting

• Impacts of Pillar 2.
• Corporate AMT.
• Proposed disclosure changes.

1-Tax C&I Updates for Mid-Atlantic States

• Be able to recognize current state and local credits and incentives trends.
• Identify state and local credits and incentives opportunities.
• Better understand credits and incentives programs recently enacted in the mid-Atlantic states.

1-TaxInternational Tax Compliance Issues/Guidance

Concurrent Session #5

1-TaxSales and Use Tax Panel

1-TaxOverview of U.S. Withholding Taxes and Required Forms and Filings

• Withholding on non-U.S. persons' U.S. non-effectively-connected income.
• Chapter 3 withholding requirements, applicability, forms, withholding certificates and reduced withholding rates pursuant to U.S. treaties, compliance (Forms 1042, 1042-S, 1042-T), EFTPS, and deposit requirements.
• Withholding on non-U.S. persons' U.S. effectively-connected income.
• Withholding against ECI (generally), Section 1446(a) withholding, FIRPTA.
• Chapter 4 (FATCA) withholding.
• Applicability, overlap, and interaction with Chapter 3 withholding, withholdable payments (financial payments).

Concurrent Session #6

1-A&AIntegrating State and Succession Planning into a Transaction

• Tax planning prior to a transaction.
• Planning incorporates both estate tax and income tax planning.
• Key inquiries focus on timing of the plan implementation and the valuation of the subject company.
• Need to be wary of the planning being done prospectively but viewed in hindsight.

1-TaxNavigating the Complex Unclaimed Property Environment

All companies have unclaimed property reporting obligations and, like other indirect taxes, unclaimed property can be a significant source of revenue for states. Managing unclaimed property compliance risks and conforming to states’ requirements are as important now as ever as states ramp up audit efforts in the face of economic uncertainties. We will discuss:

• Unclaimed property basics and compliance considerations.
• Unclaimed property risks and misconceptions.
• Voluntary Disclosure Agreement programs in states such as California and Delaware.

1-TaxInternational-Tax-Focused Legislative Update