Sessions

7:30 AM to 8:30 AM

Check in

Continental breakfast is served 

8:30 AM to 10:00 AM

Professor Edward A. Morse

An overview of significant developments in federal income taxation that is likely to interest practitioners with a broad range of professional practices. The program primarily emphasizes case law developments; also includes references to significant administrative rulings and regulations as well as legislation.

10:00 AM to 10:15 AM

Refreshment Break

10:15 AM to 12:15 PM

Professor Thomas J. Purcell III, Edward S. Karl

Special emphasis on recent changes to Circular 230, administrative guidance on tax preparers and representatives, developments and enforcement action in the Office of Professional Responsibility, judicial decisions, AICPA Statements on Standards for Tax Services, and the AICPA Code of Professional Conduct.

12:15 PM to 1:15 PM

Luncheon

Included with registration 

1:15 PM to 2:15 PM

John Goldsbury

An overview of how trust capital gain is taxed; recent increases in tax rates of capital gains; and considering whether the capital gain is taxed to the trust or beneficiary. Also, a summary of DNI regulations and how to view them. Examples are to be given.

2:15 PM to 3:30 PM

Terence F. Cuff

Ways in which drafters can foul up partnership and LLC agreements and create tax problems, business problems, and economic problems for their clients. Taking into consideration Section 1031 like-kind exchanges, there will be exploration of creative techniques and the tax pitfalls, including discussions on swap and drop issues; special allocation issues; exchange and partnership divisions; exchanges and partnership mergers; exchanges and scheduler allocations; and exchanges and target allocations. More than 500 pages of written materials accompany this presentation.

3:30 PM to 3:45 PM

Refreshment Break

3:45 PM to 4:45 PM

Timothy L. Moll

A longtime mainstay of the Institute : A comprehensive review of current federal devel- opments in estate and gift taxation with an emphasis on planning implications. 

4:45 PM

Recess

8:00 AM to 10:00 AM

Natalie B. Choate

Your clients are bombarded with dreams and schemes designed to reduce the taxes on their retirement plans. Which of these work and which do not? Learn how to evaluate the latest ideas (and separate the fool-proof from the foolhardy), plus dozens of tried-and-true planning techniques you can use right away in your practice.

10:00 AM to 10:15 AM

Refreshment Break

10:15 AM to 11:15 AM

Natalie B. Choate

Learn how a trust can qualify for the life expectancy payout method under the IRS’s “minimum distribution trust rules,” how to determine trust “income” and “principal” when the trust holds an IRA, and other pitfalls of naming a trust as beneficiary of a retirement plan or IRA. 

11:15 AM to 12:00 PM

John S. Slowiaczek

Focuses on case law and recent developments in premarital/ post marital agreements and their impact on estate and succession planning. Practical advice for tax and business advisors presented by a highly acclaimed divorce attorney.

12:00 PM to 1:00 PM

Luncheon

Included with registration

Governor Pete Ricketts, invited guest speaker

1:00 PM to 1:45 PM

Roberta L. Christensen

A brief history of sales tax nexus law, starting with the United States Supreme Court’s last decision on the issue in Quill Corp. v. Heitcamp (1992) and ending with Justice Kennedy’s concurring opinion in Direct Marketing Ass’n v. Brohl (2015). 

1:45 PM to 2:30 PM

Nicholas K. Niemann

A look, first, at recent Nebraska state tax developments, then an overview of recent state tax developments in Iowa. State tax incentive developments for Nebraska and Iowa will also be highlighted.

2:30 PM to 2:45 PM

Refreshment Break

2:45 PM to 4:00 PM

Professor Bryan Slone, Professor William H. Lyons

An overview of the key tax and practical considerations when considering a partnership or LLC structure. Includes discussions of the complexity of the partnership allocation rules, including the increasing popularity of targeted allocation approaches. A review of other factors providing advantages and disadvantages to partnership and LLC structures will be provided.

4:00 PM to 5:00 PM

Professor Roger A. McEowen

A discussion of current legislation and cases. Special topics include depreciation, deferred contracts, in-kind wage payments, etc. A must for anyone who prepares farm and ranch returns or who advises landowners on income taxes.

5:00 PM

Adjournment