Making the 108(i) Election Pros & Cons Explained
Overview:
Section 108(i) of the American Recovery and Reinvestment Act of 2009 permits C corporations and taxpayers engaged in business or trade to defer COD (Cancellation of Debt) income recognition for a period of 4-5 years. While making the 108(i) election has its advantages, one must carefully weigh the pros and cons before moving forward. In this Knowledge Group Section 108(i) LIVE webcast, a panel of distinguished professionals experts will help you understand the most critical issues which will include: - Overview of the fundamentals - Advantages and disadvantages of making the election - Partnerships - Timing issues - Up-to-the-minute regulatory updates - Live interactive Q&A session This live webcast will provide tax and related professionals with a comprehensive overview of making the 108(i) election along with its pros and cons. Attending this course will give you the tools you need to understand how to make this election at your firm. Advanced registration is recommended as space is limited.
Agenda:
SEGMENT 1: Jonathan Zelnick, Principal in the Financial Institutions and Products Group, KPMG LLP ** Speaker Talking Points to be added soon.. ** SEGMENT 2: David B. Cubeta, Member, Miller & Chevalier I. Timing whip-saws from debt modifications. A. When a modification is a deemed exchange. B. Exchange consequences. 1. Non-publicly-traded debt 2. Publicly-traded debt. C. Section 108(i) election
Who Should Attend:
- CPAs, Corporate Tax Professionals & Finance Executives, Enrolled Agents - Tax & Finance Attorneys, Corporate Counsel (Tax)
Jonathan is a principal in the Financial Institutions and Products group of KPMG’s Washington National Tax practice. Jonathan advises clients …
Dave Cubeta represents large multinational corporate clients in resolving potential Internal Revenue Service (IRS) controversies in audit, negotiating settlements of …
Dave Levy represents clients on a wide range of tax matters, including partnership transactions, mergers and acquisitions, the formation of …
Brian Knudson is a partner in the Partnership and Joint Venture Group of the National Tax Department of Ernst & …
Course Level:
Intermediate
Advance Preparation:
Print and review course materials
Method of Presentation:
On-demand Webcast (CLE)
Prerequisite:
NONE
Course Code:
93893
Total Credits:
2.0 CLE
Login Instructions:
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SPEAKERS' FIRMS:
About KPMG LLP
About Miller & Chevalier
About Skadden, Arps, Slate, Meagher & Flom LLP
Website: https://www.skadden.com/
About Ernst & Young, LLP
Website: https://www.ey.com/global/content.nsf/International/Home