Sessions

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Registration Desk Opens
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Continental Breakfast
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Greetings and Presentation of Scholarships
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The Jack North Important Developments Presentation
Important Developments in Federal Income Tax
Presenter(s): Prof. Edward A. Morse

This popular annual presentation will include updates from the past year:

  • Introduction and Overview of Gross Income Topics
  • Cases involving Deductions and Credits
  • Cases involving Tax Administration
  • Cases Involving Litigation and Tax Procedure
  • Cases Involving Corporate Taxation,Including S Corporations and Partnerships
  • Cases Involving Employment Taxation and International Highlights; Legislative Items
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Refreshment Break
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Washington Update
Presenter(s): Alex Brosseau

This presentation provides an overview of the current political state of play, election results, etc. It outlines what that state of play could mean for tax legislating in the lame duck session of 2024, after the 199th Congress is seated in 2025, and beyond. Included is a discussion of tax platforms of leading elected officials, expired and expiring elements of the Tax Cuts and Jobs Act, and how those topics could merge in 2025, based on the November 2024 election results. The presentation concludes with a discussion of a long-term budget and economic outlook, budget reconciliation (if applicable), and how those issues will impact negotiations over the future of tax policy.

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Current Federal Developments in Estate and Gift Taxation
Presenter(s): Timothy L. Moll

This annual update will review legislative developments in:

  • Gross Estate Calculations and Reporting
  • Gross Estate Deductions
  • Gifts and Valuation
  • Retirement Plans and Miscellaneous Developments
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Luncheon – included with registration
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Farm Income Tax Update
Presenter(s): Prof. Roger A. McEowen

This session provides an update on the most recent developments in agricultural taxation—from caselaw to IRS administrative happenings. Also covered will be farm policy issues, energy credits, residual fertilizer supply, depreciation planning tips, the proper use of deferral contracts and installment sales as part of a transition plan.

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Refreshment Break
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State Tax and Economic Development Update
Presenter(s): Nicholas K. Niemann

Mr. Niemann’s presentation is a long-running staple of the Institute and will include:

  • A review of significant new State Tax, Incentives and Economic Development Innovations, focusing on Nebraska, Iowa, and the U.S.
  • Updated strategies on the role of each professional in resolving state tax audits, refund claims, and appeals
  • What’s ahead for Nebraska state tax, incentives and economic development
  • The latest on business project innovations and how corporate attorneys and CPAs are helping grow their Nebraska, Iowa, and national clients
Recess
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Continental Breakfast
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The Deryl F. Hamann Keynote Presentation
The Life Changing Magic of Grantor Trusts
Presenter(s): Prof. Samuel A. Donaldson

The first of two keynote presentations focuses on:

  • The History of grantor trust rules
  • When to use a grantor trust
  • Third-party grantor trusts
  • Choosing the right powers for grantor trusts
  • Drafting issues with grantor trusts
  • Installment sales with grantor trusts
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Refreshment Break
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The Deryl F. Hamann Keynote Presentation
Income Tax Aspects of FLPs
Presenter(s): Prof. Samuel A. Donaldson

These topics are outlined in the second segment of the keynote presentations:

  • Tax issues on formation of the FLP
  • Tax aspects of the FLP during operation
  • Tax aspects of liquidating the FLP
  • Disguised sale rules and relation to the FLP
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Don’t Let the Sun Go Down on Me—Planning Ahead with Optionality Ahead of TCJA Scheduled Sunset
Presenter(s): Kim Kamin

With the TCJA bonus transfer tax exemptions scheduled to sunset at the end of 2025, estate planners may be running out of time to help clients engage in planning to utilize the current levels. This presentation will address certain planning strategies for using exemptions and additional considerations for planning that structurally promotes optionality with drafting that seeks to maximize flexibility.

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Luncheon – included with registration
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Foresight Should be 20/20: Handling IRS Audits and Appeals with Later Tax Litigation in Minds
Presenter(s): Hale E. Sheppard

This presentation, designed for attorneys and accountants who do not specialize in tax controversy, provides an overview of a typical battle with the IRS, highlighting critical and obscure issues. It addresses strategic reasons for cooperating during audits, considerations before extending assessment-periods, special rules for third-party contacts, legal effects of various resolution methods, benefits of presenting “qualified offers,” avoiding inadvertent waivers of privileges, pros and cons of making tax “deposits,” how to shift the evidentiary burden to the IRS, which of three venues is best for bringing tax cases, why to file “protective” refund claims amid disputes, seeking reimbursement of legal fees from the IRS, and much more.

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Refreshment Break
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Paul C. Jessen Ethics Presentation
Trust Me, I’m a Lawyer/CPA
Presenter(s): John E. Moore III

Trust lies at the heart of all professional relationships. In an era in which artificial intelligence challenges the role of the professional, building trust with our clients takes on an even larger role. Social science research confirms that living a life with behaviors that build trust enhance our professional success and satisfaction. The presentation will explore a series of topics and answer a series of questions. What, exactly, is trust, and why is trust of ever-increasing importance in modern professional practice in general and legal practice in particular? What personal and professional behaviors are fundamental to trust? In practical terms, how do we build trust with clients? And, perhaps more importantly, how can professionals integrate trust-based skills and approaches to practice more professionally and with greater personal satisfaction?

Adjournment