Agenda

12:00 PM - 12:30 PM
12:00 PM - 12:30 PM
12:30 PM - 2:00 PM
12:30 PM - 2:00 PM

Topics to be discussed include analysis and review of recent and proposed tax legislation, including tax reform proposals, a summary of recent IRS pronouncements and cases, recent accounting and regulatory guidance, and a review of current IRS examination issues

2:00 PM - 3:00 PM
2:00 PM - 3:00 PM
3:00 PM - 4:00 PM
3:00 PM - 4:00 PM
4:00 PM - 4:30 PM
4:00 PM - 4:30 PM
12:00 PM - 12:30 PM
12:00 PM - 12:30 PM
12:30 PM - 4:30 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!

12:30 PM - 4:30 PM

Whether you are new to tax accounting or are in need of a refresher, this workshop covers the fundamentals of the tax provision computation in accordance with ASC 740.

12:30 PM - 4:30 PM

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
4:00 PM - 4:30 PM
4:00 PM - 4:30 PM
12:30 PM - 1:00 PM
12:30 PM - 1:00 PM
1:00 PM - 2:00 PM
1:00 PM - 2:00 PM
2:00 PM - 3:00 PM
2:00 PM - 3:00 PM

Led by representatives from industry and public accounting, as well as current and former IRS executives, this session will discuss the taxpayer and government positions on current issues being raised by the IRS for examination. This 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 the taxpayer

3:00 PM - 4:00 PM
3:00 PM - 4:00 PM

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

4:00 PM - 4:30 PM
4:00 PM - 4:30 PM
12:30 PM - 1:00 PM
12:30 PM - 1:00 PM
1:00 PM - 2:00 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
2:00 PM - 3:00 PM
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 institutions.

3:00 PM - 4:00 PM
3:00 PM - 4:00 PM

The session will address a variety of compensation-related topics including, for example, approaches to providing equity compensation
and tax considerations, the impact of IRC section 409A on equity and deferred compensation and issues we have seen in practice, IRC section 280G and 162(m) considerations, tax reporting/ withholding matters, and fringe benefits.

4:00 PM - 4:30 PM
4:00 PM - 4:30 PM
12:30 PM - 1:00 PM
12:30 PM - 1:00 PM
1:00 PM - 2:00 PM
1:00 PM - 2:00 PM
2:00 PM - 3:00 PM
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
3:00 PM - 4:00 PM
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?
4:00 PM - 4:30 PM
4:00 PM - 4:30 PM
12:30 PM - 1:00 PM
12:30 PM - 1:00 PM
1:00 PM - 2:00 PM
1:00 PM - 2:00 PM
2:00 PM - 3:00 PM
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.

3:00 PM - 4:00 PM
3:00 PM - 4:00 PM

This session 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.

4:00 PM - 4:30 PM
4:00 PM - 4:30 PM
12:30 PM - 1:00 PM
12:30 PM - 1:00 PM
1:00 PM - 2:00 PM
1:00 PM - 2:00 PM

This session will update you on the latest developments in Accounting for Income Taxes, including discussions of the upcoming revenue recognition and leasing standards, and tax accounting for international operations. There will be valuable insights for community banks as well as large multinational financial institutions

2:00 PM - 3:00 PM
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.
3:00 PM - 4:00 PM
3:00 PM - 4:00 PM
4:00 PM - 4:30 PM
4:00 PM - 4:30 PM