This session will provide an overview of federal income tax issues and recent developments of significant interest to community banks. Topics to be discussed include tax planning in a rising interest rate environment, an overview of evolving IRS audit exposure areas (including the Employee Retention Credit and micro captive insurance structures), planning for the new 1% federal excise tax on stock repurchases and a summary of miscellaneous federal income tax developments. All topics will be presented from a community banking perspective by practitioners who serve this market extensively.