All times listed are Eastern.

12:00 PM - 12:25 PM
12:25 PM - 2:00 PM

This session will provide an overview of recent tax developments impacting financial institutions.  KPMG banking tax partners Mark Price, Liz L’Hommedieu and Matt Mosby will be joined by John Kinsella, VP Tax Policy of the American Bankers Association, to review the tax impacts of 2020’s wild ride. Topics to be discussed include analysis and review of recent and proposed tax legislation, including tax considerations with the CARES Act; a summary of recent IRS pronouncements, including guidance on the Employment Retention Credit and Paycheck Protection Program; recent accounting and regulatory guidance related to the TCJA; and, income tax issues related to a down cycle economy including forbearance and loan modifications.


  • Liz L’Hommedieu, Principal, Financial Institutions and Products, Washington National Tax - KPMG
  • Matthew Mosby, Partner, Financial Institutions and Products, Washington National Tax - KPMG
  • Mark Price, Principal, Financial Institutions and Products, Washington National Tax - KPMG
  • John Kinsella, Vice President, Tax Policy - American Bankers Association


2:00 PM - 2:10 PM
2:10 PM - 3:10 PM

This session will cover:

  • Holistic overview of the value of data transformation and analytics tools within the tax function
  • Not all tools are created equally – Discussion of the various tools and platforms available and key differences
  • Tax department use case overview
    • Legal entity trial balance automation
    • State apportionment data cleansing
  • Live demo of Alteryx and DOMO including a walk-through of a tax department proof of concept


  • Christopher Spratt, Senior Manager, Tax Digital Consulting - Grant Thornton
  • Anthony Stola, Manager, Tax Digital Consulting - Grant Thornton
  • Luis Sanches Huipio, Senior Associate, Tax Digital Consulting - Grant Thornton
3:10 PM - 3:45 PM
12:00 PM - 12:30 PM
12:30 PM - 4:30 PM

Over the past 25 years, the Community Bank Tax Workshop has become the banking industry’s premier annual advanced tax conference focused specifically on tax planning and compliance by community banks.

While the focus this year has been more directly on the current COVID-19 pandemic, there have been important events that affect the tax liabilities of community banks.  Front and center are the tax provisions in the federal CARES Act, and the tax treatment of economic provisions in the CARES Act that have tax effects which are not addressed by the Act itself.

There are also other tax developments, including additional IRS guidance under the Tax Cuts and Jobs Act, and the continuing evolution of the community bank business model such as S corporation revocations.  We will have plenty of new material to fill the session and then some!

The COVID-19 pandemic is having a significant impact on financial markets driven by workforce restrictions, unemployment, production disruptions, travel restrictions, reduced consumer spending and sentiment, amongst other factors. These impacts, and the resulting economic instabilities, are negatively impacting many companies’ financial performance. The financial impacts of COVID-19, as well as a bank’s responses, may impact the institution’s income tax accounting. Join your KPMG instructors for a refresher on routine tax accounting items that may not be so routine when contending with a down- cycle economy.

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 tutorial. In this session, we will discuss the common schedule M adjustments specific to banking, the bad debt conformity election, and emerging issues that are likely to be discussed in detail at the main conference.

This session will: 

  • Provides relevant technical background enabling attendees to better understand the major topics to be discussed during the main conference
  • Serves as an excellent refresher for those professionals who need to brush up on their knowledge of bank-specific tax matters
  • Provides an opportunity to ask questions in a more casual environment than may be found during the main conference
12:30 PM - 1:00 PM
12:55 PM - 2:00 PM

The 2020 election will go down in history as an election like no other.  Held during a pandemic and with both the White House and Senate at stake, the outcome of the election promises to bring lasting tax policy consequences.  The Tax Cuts & Jobs Act did not achieve a political consensus around tax reform and the global tax policy landscape continues to shift, so the tax policy debate will continue.  In this session, we will provide a recap of the 2020 election and what the results portend for tax policy in 2021 and beyond.


  • Ray Beeman: Principal, Co-Leader Washington Council - Ernst & Young LLP
  • Ryan Abraham, Principal, Washington Council - Ernst & Young LLP
2:00 PM - 3:00 PM

KPMG’s Mike Dolan, Liz L’Hommedieu, and Sharon Katz Pearlman will join LB&I Commissioner Doug O’Donnell and LB&I’s Director of Financial Institutions and Products, Pete Puzakulics, in a panel discussion of the current LB&I focus and initiatives with special emphasis on the potential impacts on financial institutions.


  • Mike Dolan, Director, IRS Policies and Dispute Resolution, Washington National Tax - KPMG
  • Liz L’Hommedieu, Principal, Washington National Tax - KPMG
  • Sharon Katz Pearlman, Principal, Tax Dispute Resolution & Controversy - KPMG
  • Douglas W. O'Donnell, Commissioner, Large Business & International Division - Internal Revenue Service
  • Pete Puzakulics, Director, Financial Institutions & Products - Internal Revenue Service
3:00 PM - 4:00 PM

This session will discuss recent tax developments to the financial services industry and the international arena.


  • Denise J Schwieger, Principal - PwC
  • Ellen Rotenberg, Principal - Pwc
12:30 PM - 1:00 PM
1:00 PM - 2:00 PM

This session will consider how the U.S. economy is adjusting to the pandemic environment, winners and losers among economic sectors, impact on capital markets, and outlook.

Key Takeaways

  • The onrush of the COVID-19 pandemic knocked the U.S. economy off its feet
  • It's going to take time before the economy is fully employed again
  • Dynamic flexibility will support adjustments in the U.S. economy to get us through this
  • COVID-19 is permanently impacting the economy

Speaker: Robert Strand, Vice President and Senior Economist - American Bankers Association

2:00 PM - 3:00 PM

The State and Local Tax session will be covering the latest developments in state and local taxation of financial


  • Howard Polonetsky, Managing Director, State and Local Tax Services - Grant Thornton
  • Josh Grossman, Principal, State and Local Tax Services - Grant Thornton
3:00 PM - 4:00 PM

The Compensation and Fringe Benefits Update session will cover compensation and fringe benefit topics relating to the 2020 COVID-19 Pandemic. This includes brief discussions on impacts to payroll taxes, employer provided benefits and other relevant compensation topics.

Speaker: Albert Arazi, Senior Manager, Human Capital Services - Grant Thornton

12:30 PM - 1:00 PM
12:55 PM - 2:00 PM

Speaker: Charles P. Rettig, Commissioner - Internal Revenue Service

2:00 PM - 3:00 PM

This session will provide an overview of federal income tax issues and recent developments of significant interest to small and mid-sized banks. Topics to be discussed include an overview of the CARES Act provisions and other COVID-19-related developments of particular interest to community banks, an overview of the BOLI reportable policy sale regulations and their potential impact on common bank acquisition structures and other technical developments. All topics will be presented from a community banking perspective by practitioners who serve this market extensively.

This session will: 

  • Provide a comprehensive, up-to-date summary of federal tax issues of interest to community banks
  • Address cutting-edge federal tax developments from a community banking perspective
  • Summarize the recently-issued BOLI reportable policy sale regulations and how they may impact common community bank acquisition structures


  • David Thornton, Partner - Crowe
  • Colleen Delger, CPA, Vice President & Tax Manager - Banner Bank
  • Kevin Powers, Tax Partner - Crowe 
3:00 PM - 4:00 PM

2020 has been an unprecedented year of unique challenges regarding cash flow, taxation, and employment.  Over the past year, we have been inundated with help from Washington in the form of loans, credits, deferrals, and retroactive tax law changes.  Join us for a discussion covering the impact on S-Corp banks and their shareholders, including M&A activity, the impact of the election, and the CARES Act.

Three Key Takeaways:

  • What does the ever-changing political environment mean to your S-Corp Bank?
  • Identify the provisions within the CARES Act that apply to financial institutions including the relief measures and options for consideration.
  • What does the M&A landscape look like in 2020 and beyond?


  • Susan Kelley, CPA, Director - BKD
  • Gwyn Easton, CPA, Director - BKD
12:30 PM - 1:00 PM
12:55 PM - 2:00 PM

Most banks invest in monetizable tax credits for various reasons including regulatory requirements, managing effective tax rates, receiving a better return for cash on hand, and ESG considerations.  Over the years these efforts have grown, and it is not uncommon to see banks investing hundreds of millions if not more than a billion dollars a year into tax credits.  On this panel we will walkthrough:

  • What credits are you already entitled to that you should be claiming?
  • What credits/incentives are available for you to negotiate?
  • How should you be thinking about state tax credits?
  • What are some of the key differences between LIHTC, solar, wind, and the other credits that are commonly monetized?
  • How should you evaluate an investment to determine if it is right for you?


  • Michael Bernier: Partner, Financial Services, Indirect Tax, Ernst & Young LLP
  • Gopika Parikh: Managing Director, Financial Services, Indirect Tax, Ernst & Young LLP
2:00 PM - 3:00 PM

This session will discuss the taxpayer and government positions on current issues being raised by the IRS for examination. The session will feature a lively discussion of IRS positions affecting current examination issues as well as strategic initiatives and structural changes within the IRS that will impact taxpayers.


  • Kevin Brown, Principal, Co-Leader, Tax Controversy and Regulatory Services - PwC
  • Paul DeNard, Managing Director, Tax - Pwc
3:00 PM - 4:00 PM

As consolidation and M&A activity continue at a rapid pace, bankers are looking ahead to build a competitive edge and a strong business. In this session, panelists will discuss M&A topics including net operating loss utilization and limitations, consolidated tax issues and recent transaction trends. Hear observations, items commonly missed, and strategies to overcome challenges that your bank can act on now.


  • Ronald Kolodkin, Partner  - RSM US LLP
  • Nick Gruidl, Partner, Washington National Tax - RSM US LLP
12:30 PM - 1:00 PM
12:55 PM - 2:00 PM

This session will cover income tax accounting considerations arising from continuing developments including COVID-19, Financial Accounting Standards Board staff projects, regulatory focus areas, and tax accounting challenges. 


  • Jesse Lane: Partner, Financial Services, Tax, Ernst & Young LLP
  • Charles Gengler: Partner, Financial Services, Tax, Ernst & Young LLP
2:00 PM - 3:00 PM

This session will provide an update on recent and upcoming developments in financial reporting, including new and proposed accounting standards, as well as current hot topics facing the financial institution industry.

Three Key Takeaways:

  • Be aware of recent and upcoming key accounting standard changes for financial institutions.
  • Understand how the standards may impact financial institutions.
  • Be aware of what financial institutions should be doing to address these standards.


  • Nicholas Keener, CPA, Director - BKD
  • Michael L. Fortman, CPA, Director - BKD
3:00 PM - 4:00 PM

Including High Tax Exception under Section 951A, Dividend Received Deduction under Section 245A and Foreign Derived Intangible Income under Section 250


  • John L. Tam, Partner, International Tax Services - RSM US LLP
  • Ronald Kolodkin, Partner - RSM US LLP