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Texas Tax Lawyer a Tax Journal Texas Tax Lawyer A Tax Journal Spring 2016 • Vol. 43 • No. 3 www.texastaxsection.org TABLE OF CONTENTS FROM OUR LEADER: The Chairʹs Message Alyson Outenreath, Texas Tech University, School of Law SPECIAL ATTENTION AND RECOGNITIONS: Congratulations to the 2016 Outstanding Texas Tax Lawyer: Louise Hytken Congratulations to the Recipients of the Law Students Pursuing Tax Law Scholarship Get to Know the 2016‐2017 Leadership Academy Participants In Memoriam ARTICLES: Avoiding the Guardianship Alternative Wesley L. Bowers, Fizer, Beck, Webster, Bentley & Scroggins, P.C. Drafting CLTs – What You Can And Can’t Do Laurel Stephenson, Davis Stephenson, PLLC Traps for the Unwary in Assets Acquisitions by S Corporations Jeffry M. Blair, Hunton & Williams LLP Tax Considerations in Moving Technology to Texas Matt Hunsaker, Baker Botts LLP Gordon Martens, Baker Botts LLP 1 PRACTITIONER’S CORNER: The Nuts and Bolts of Tax Court Litigation: Post‐Trial Practice Jaime Vasquez, Chamberlain, Hrdlicka, White, Williams & Aughtry Stuart H. Clements, Chamberlain, Hrdlicka, White, Williams & Aughtry Ethical Issues Facing Tax Departments Today Ed Osterberg, Mayer Brown LLP Scott Stewart, Mayer Brown LLP COMMITTEE ON GOVERNMENT SUBMISSIONS: Comments Regarding Implementation of the New Partnership Audit Regime April 26, 2016 Partnership and Real Estate Committee Comments on March 28, 2016 Proposed Amendments to United States Tax Court Rules of Practice and Procedure April 27, 2016 Tax Controversy Committee Comments on Form 706‐GS(D‐1) May 17, 2016 Estate and Gift Tax Committee Comments on Franchise Tax, Proposed Rule 3.584 June 15, 2016 State and Local Tax Committee Comments on Consistent Basis Reporting June 17, 2016 Estate and Gift Tax Committee 2 SECTION INFORMATION: 2015 – 2016 Calendar Tax Section Council Roster Tax Section Committee Chair and Vice Chair Roster THANK YOU TO OUR SPONSORS! Interested in Becoming a Sponsor? Please Contact Tax Section Sponsorship Task Force Chair, Jim Roberts, at jvroberts@gpm‐law.com The name and cover design of the Texas Tax Lawyer are the property of the State Bar of Texas Tax Section 3 CHAIR’S MESSAGE Dear Fellow Tax Section Members: The fiscal year has come to an end and there is a lot of good news to report! 1. Brand New Updated 24/7 Free Online CLE Library First, we have launched a newly updated version of our 24/7 Free Online CLE Library! As in years past, it is FREE to all Tax Section members. The new CLE Library contains over 65 audio and video programs, along with powerpoints and outlines. An easy and cost effective (it’s free!) way to earn all of your CLE credit, accessible anytime, anywhere. The Tax Section’s 24/7 Free Online CLE Library was first launched in 2009 under the vision and leadership of former Tax Section Chair Dan Micciche. It was the first of its kind. This year, we made it a priority to make it even better for you! We hope you like and it and find it useful to your practice! Check it out on the Tax Section website: http://www.texastaxsection.org 2. Member Outreach Initiatives and Networking Opportunities In addition, this year we made it a priority to enhance our member communications to you by increasing the number of eblasts to you and including up-to-date information on our website. We also made it a priority to increase the number of networking opportunities. Tax law is difficult; we all need a network of support. We had five networking functions throughout the year. This includes, for the first time, a complimentary networking reception that was held at the State Bar Annual Meeting on June 16. We also have “mini-CLEs” in the works, where we will reach out to more remote locations (examples include El Paso, Lubbock, Amarillo, just to name a few) where we plan to offer a 1-2 hour CLE program with a networking event following. The goal is to reach out to members who practice outside the typical cities where “live CLEs” are offered. 3. Membership Drive In conjunction with the rollout of the newly updated 24/7 Free Online CLE Library (see #1 above), we embarked on a membership drive. The membership drive reached out to State Bar members who are not tax lawyers, but who still utilize tax law in their practice. Some examples include solo and small firm attorneys, business law and corporate counsel attorneys, estate planners, and real estate attorneys. Because the Tax Section’s 24/7 Free Online CLE Library contains many primer and “tax 101” courses, we thought these attorneys could receive a great benefit from a Tax Section membership. Know anyone who might benefit from a Tax Section membership? Help spread the word! Here is a link to join the Tax Section: http://www.texastaxsection.org 4. Live CLE Events We had some record attendance at our live CLE events this year, which included: (i) Texas Comptroller Annual Meeting and Legal Update; (ii) International Tax Symposium (hosted in two cities); (iii) Tax Law in a Day; (iv) Annual Property Tax Seminar (which had over 200 attendees and was standing room only!) In addition to these live events, as in years past, the Tax Section co-sponsored the TexasBarCLE Advanced Tax Law Course and Dallas CPA Society Convergence. This year we also expanded our Annual Texas Comptroller Meeting to include a morning session CLE program. 5. Tax Section Annual Meeting We hope you attended the Tax Section Annual Meeting, which was held in conjunction with the State Bar Annual Meeting in Fort Worth on June 16-17. The Tax Section offered a full day of CLE (7.5 hours) on topics including: New Partnership Audit Rules, International Tax Update, IRS Enforcement Update, Issues Every Tax Lawyer Should Know (But May Have Lost Track Of), Property Tax 101, and much more. For the first time, the Tax Section also hosted a complimentary networking reception open to all Tax Section members. Special thanks to David Gair, Annual Meeting Chair, for organizing a fantastic CLE program. Attendance was great and we hope to see even more of you next year at the Annual Meeting in Dallas! 6. Louise Hytken Wins the 2016 Outstanding Texas Tax Lawyer Award The Tax Section Council voted to award the 2016 Outstanding Texas Tax Lawyer Award to Louise Hytken. This is the highest award that the Tax Section gives. This award recognizes Louise for her outstanding reputation, expertise, and professionalism in the practice of tax law; her significant contributions through her work at the Tax Division of the Department of Justice; her reputation for ethics; and her mentorship of other tax professionals. The award was presented at the Tax Section Annual Meeting, which was held in conjunction with the State Bar of Texas Annual Meeting on June 16-17 in Fort Worth, Texas. 7. Great Year for Government Submissions This year, through the leadership of the Tax Section Committee on Government Submissions (“COGS”) (spearheaded by Bob Probasco, Henry Talavera, Jeff Blair, and Jason Freeman), the Tax Section submitted a record 12 comment letters on significant tax topics. Leading the charge was the Tax Controversy Committee (led by Richard Hunn), which submitted six comment projects this year. Also significant is the recent comment project on the new partnership audit rules (spearheaded by the Partnership and Real Estate Tax Committee), which was singled out by an IRS speaker at the most recent ABA meeting as being particularly helpful. This year we also saw some Tax Section recommendations implemented in final regulations. The Texas Comptroller’s Office adopted recommendations from a comment project on timely filing and payment issues submitted by the State and Local Tax Committee. And the IRS adopted recommendations from a comment project submitted by the General Tax Issues Committee on raising the de minimis safe harbor for deducting, rather than capitalizing, the cost of tangible assets. Getting involved on a comment project is a great way to help shape tax policy. All Tax Section members are encouraged to get involved! Please contact Henry Talavera: [email protected] 8. Welcome to the 2016-2107 Leadership Academy Class This year we welcomed our third Leadership Academy Class! The class will attend four sessions (the first was in March, and the second was in conjunction with the Annual Meeting) and will graduate in early 2017. The Tax Section hosts its Leadership Academy program every other year to instill leadership skills and help guide the next generation of Texas tax lawyers in taking ownership of their careers. This year we also started working on a promotional video for Leadership Academy. Stay tuned! Please contact Christi Mondrik, Leadership Academy Program Director, if you’re interested in learning how to apply for the next Leadership Academy program: [email protected] 9. Congratulations to Our 2016 Student Scholarship Winners The Tax Section awarded four student scholarships this year to students demonstrating academic excellence and commitment to the study and practice of tax law in Texas. The purpose of the scholarship program is to facilitate and encourage students to enter the practice of tax law in Texas, and to become active members in the State Bar of Texas Tax Section. Selection criteria include: merit, academic performance, financial need, and demonstrated experience and interest in practicing in the field of tax law in Texas. We had a record number of applications this year! The 2016 Tax Section Law Student Scholarship recipients include: Jessica Kirk, SMU Dedman School of Law Sharmeen Ladhani, Vanderbilt Law School Yang “Allyson” Li, University of Houston Law Center Julio M. Mendoza-Quiroz, Texas Tech School of Law Please contact Rob Morris, Director of the Law Student Scholarship Program, if you would like to learn more: [email protected] 10.
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