Business Entities Committee

Next Meeting: May 20, 2010
Location: Rock Financial, Novi
Time: 3:50–4:50 p.m.

Speakers:
James H. Combs, Honigman Miller Schwartz and Cohn LLP, Detroit
Alexander G. Domenicucci, Honigman Miller Schwartz and Cohn LLP, Detroit

Minimizing Taxes in Workout, Restructuring, and Debt Modification Transactions

• The effect of debt workouts, debt modifications, and bankruptcy proceedings on debtors and creditors
• Amount and timing of cancellation of debt (COD) income
• Differences between cancellation of recourse and nonrecourse debt
• Strategies to mitigate (or eliminate) the effects of COD income
• Deferral of COD income under the 2009 stimulus legislation
• Deductions for worthlessness and abandonment of partnership interests

For more information contact:

Alexander Domenicucci—Business Entities Committee Chair
Honigman Miller Schwartz and Cohn LLP
2290 First National Building
660 Woodward Avenue
Detroit, MI 48226-3506
(313) 465-7672 (Phone)
(313) 465-7673 (Fax)
adomenicucci@honigman.com

Employee Benefits Committee

Next Meeting: May 20, 2010
Time: 3:50–4:50 p.m.
Location: Rock Financial, Novi

Speaker: David R. Fuller, Morgan, Lewis & Bockius LLP, Washington, D.C.

IRS Tsunami—"National Research Project" Targets Independent Contractor/Employee Benefit Issues

• What is the National Research Project?
• Who is being targeted and what are the targeted issues?
• Should you begin converting independent contractors to employees?
• What specifically is the IRS asking?
• What do conservative taxpayers have to fear?
• How to take advantage of statutory, administrative and judicial relief provisions on the independent contractor, fringe benefit and payroll audit positions.
• How comprehensive and draconian are these audits?

For more information contact:

Thomas L. Shaevsky—Employee Benefits Committee Chair
Butzel Long, a Professional Corporation
Stoneridge West
41000 Woodward Avenue
Bloomfield Hills, MI 48304
(248) 258-7858 (Phone)
(248) 258-1439 (Fax)
shaevsky@butzel.com

Estates and Trusts Committee

Next Meeting: May 20, 2010
Time: 2:40–3:40 p.m.
Location: Rock Financial, Novi

Speaker: Leigh-Alexandra Basha, Holland & Knight LLP, McLean, VA

Case Studies on International Estate Planning (Joint Meeting with International Tax Committee)

• Non U.S. citizen with assets in the US and multiple foreign jurisdictions
• Nonresident alien with foreign trust and US beneficiaries
• U.S. citizen with foreign assets and both US and foreign beneficiaries
• U.S. person with foreign assets in civil law jurisdiction passing to heirs with pour over will and revocable living trust

For more information contact:

George V. Cassar, Jr.—Estates and Trusts Committee Chair
Maddin Hauser Wartell Roth & Heller
28400 Northwestern Hwy.
3rd Floor Essex Centre
Southfield, MI 48034
(248) 827-1894 (Phone)
(248) 359-6144 (Fax)
gvc@maddinhauser.com

International Tax Committee

Next Meeting: May 20, 2010
Time: 2:40–3:40 p.m.
Location: Rock Financial, Novi

Speaker: Leigh-Alexandra Basha, Holland & Knight LLP, McLean, VA

Case Studies on International Estate Planning (Joint Meeting with Estates and Trusts Committee)

• Non U.S. citizen with assets in the US and multiple foreign jurisdictions
• Nonresident alien with foreign trust and US beneficiaries
• U.S. citizen with foreign assets and both US and foreign beneficiaries
• U.S. person with foreign assets in civil law jurisdiction passing to heirs with pour over will and revocable living trust

For more information contact:

Michael W. Domanski—International Tax Committee Chair
Honigman Miller Schwartz & Cohn LLP
660 Woodward Avenue
2290 First National Bldg.
Detroit, MI 48226
(313) 465-7352 (Phone)
(313) 465-7353 (Fax)
mdomanski@honigman.com

Practice and Procedures Committee

Next Meeting: May 20, 2010
Time: 2:40–3:40 p.m.
Location: Rock Financial, Novi

Speakers:
Peter J. Kulick, Dickinson Wright PLLC, Lansing
Michael W. Domanski, Honigman Miller Schwartz and Cohn LLP, Detroit

The Ins and Outs of Foreign Bank Account Filings

• What is counted as a foreign bank account?
• New regulations coming in 2010: implications for the investment community
• Individuals, and business with offshore activity
• Disclosure of accounts
• Reporting interest and income
• Penalties and negotiating with the IRS

For more information, contact:

Peter Kulick—Practice and Procedures Committee Chair
Dickinson Wright PLLC
215 S. Washington Square, Ste. 200
Lansing, MI 48933-1816
(517) 487-4729 (Phone)
(517) 487-4700 (Fax)
pkulick@dickinsonwright.com

State and Local Tax Committee

Next Meeting: May 20, 2010
Time: 2:40–3:40 p.m.
Location: Rock Financial, Novi

Speakers:
Leah Robinson, McDermott Will & Emery, New York, NY
Scott L. Brandman, Baker & McKenzie LLP, New York, NY

Top Five (or So) State and Local Tax Trends

• unitary issues
• significant litigation
• apportionment trends
• nexus
• e-commerce issues
• tax reform

For more information, contact:

Marla S. Carew—SALT Committee Chair
Varnum, Riddering, Schmidt & Howlett, LLP
39500 High Pointe Blvd., Suite 350
Novi, MI 48375
(248) 567-7428 (Phone)
(248) 567-7440 (Fax)
mscarew@varnumlaw.com