November 4, 2019
8:30 AM - 4:30 PM | 25th Community Bank Tax Workshop
The Community Bank Tax Workshop is the banking industry’s annual advanced tax conference focused specifically on tax planning and compliance by community banks, both C corporations and S corporations. The workshop is designed for the financial executives of community banks and bank holding companies, and their outside accountants and counsel.
8:30 AM - 4:30 PM | Bank Tax Tutorial
As most of the presentations at the conference will focus on specific technical issues, you will want to take advantage of our preparatory Bank Tax Tutorial. The Bank Tax Tutorial is designed for comptrollers, tax professionals and their outside advisors, and prepares you to follow the conference presentations with a greater understanding of the complexity of these issues. If you have not had a refresher course in some time, if you want a succinct and inclusive review, or if you just want to fill in gaps in your background, plan now to attend this special seven-hour tutorial. In this session, we will discuss the common schedule M adjustments specific to banking, the bad debt conformity election, and developments in the tax issues associated with loan foreclosures and holding foreclosed property.
1:00 PM - 4:30 PM | ASC 740, Accounting for Income Taxes Workshop
Whether you are new to tax accounting or are in need of a refresher, this half-day, interactive workshop covers the fundamentals of the tax provision computation in accordance with ASC 740. Participants will work together under the guidance of KPMG instructors to complete a comprehensive case study requiring the preparation of a tax provision for a representative community/regional domestic bank. Throughout the completion of the case study, the workshop will also highlight select recent developments and common areas of challenge with respect to ASC 740.
At the end of the training, professionals will be able to:
- Complete the steps required to prepare a tax provision pursuant to ASC 740;
- Compute total tax expense or benefit and deferred tax assets or liabilities;
- Identify common book-tax differences for banks;
- Recognize significant factors requiring a valuation allowance with respect to deferred tax assets;
- Prepare an effective tax rate reconciliation;
- Understand significant state tax considerations in tax provisions; and
- Properly present income taxes in the financial statements.