FBA SECTION ON TAXATION
Tax Practice & Procedure Monthly Roundtable
Monday, March 24, 2014
1:00 – 2:00 pm Eastern
Dial-In Number: (866) 690-2070
Pin Number: 3008455329

 
AGENDA

  • Marijuana and the Tax Law: Issues Faced by Tax Practitioners in Representation of Clients
    Annette Nellen (San Jose State University)

    There are open questions about whether a tax practitioner (particularly a licensed CPA or attorney) can assist a marijuana retailer with tax issues, including tax compliance and planning, given that it is an illegal business, at least under federal law. Is there any ethical violation?  Our discussion will provide a brief overview of the current state of play for marijuana retailers and discuss the ethical considerations tax practitioners face in representing such clients.
  • D.C. Circuit Decision in Loving v. United States
    Stuart Bassin 

    The D.C. Circuit affirmed a trial court decision enjoining enforcement of the IRS regulations requiring tax return preparers to register, pass a qualifying exam, complete continuing education, and pay a fee.  Three preparers challenged the validity of the regulations, contending that the Service lacked statutory authority for the regulations.  The critical legal issue was whether the regulations were supported by   statutory language authorizing the IRS to “regulate the practice of representatives of persons before the Department of Treasury.” The DC Circuit concluded that the regulations were invalid because return preparers are not “representatives” agents of taxpayers and they do not appear “before the Department of Treasury.”  Our discussion will address the implications of the decision for return preparers and for other tax professionals currently subject to IRS regulation under Circular 230. 
  • Fine-Tuning the Tax Whistleblower Statute:  Why Qui Tam is Not a Solution
    Matthew (Sung Woo) Hu (2014 JD candidate, University of Minnesota Law School)

    Currently, tax whistleblowers have no remedy when the IRS decides to forgo acting on their tips. Some in the tax community have argued for adopting a modified version of the “False-Claims-Act” qui tam provisions in the Code in order to allow private individuals to sue a delinquent taxpayer on behalf of the U.S. government.  Our discussion will focus on the concerns this approach may raise, and present several suggestions on practical ways to improve the current whistleblower statute.

Next Call:   Monday, April 28, 2014 at 1:00 p.m.

Volunteers interested in leading a discussion or making a presentation at this or any future meeting are encouraged to contact S.Starling Marshall (S.Starling.Marshall@usdoj.gov); Christine Lane (christine.lane@hoganlovells.com); or Stu Bassin (sbassin@bakerlaw.com).

Ground Rules:  

  1. Statements made by government employees are made in their personal capacity and may not be relied upon as an authorized statement of any government agency.
  2. No recording devices allowed.
  3. FBA Tax Section membership is not required to participate, but you are encouraged to visit http://www.fedbar.org/Membership.aspx for information on becoming a member.