Registration and Continental Breakfast with Sponsors and Exhibitors
Welcome and Legislative Update
Kate Shanks, Vice President of Policy Development, Kentucky Chamber of Commerce
Regional Update: TN, IN, OH & WV
Angie Monahan, JD, Senior Manager, Crowe LLP
Lucas Hankins, CPA, Senior Manager, Crowe LLP
We will review income and sales tax updates in the regional states. We will also give an update as to new state legislation around conformity to TCJA.
Kentucky’s Sales Tax Manufacturing Exemption for Modern Manufacturers
Dan Bork, Commissioner, Kentucky Department of Revenue
Richard Dobson, Executive Director, Office of Sales and Excise Tax, Kentucky Department of Revenue
Mark A. Loyd, Partner, Bingham Greenebaum Doll, LLP
Manufacturing methods have evolved markedly since the sales tax was enacted. Kentucky sales tax law provides for exemptions for new and expanded industry (manufacturing machinery), materials, supplies and industrial tools as well as other exemptions that apply to manufacturers. How do Kentucky’s sales tax exemptions apply to modern manufacturing methods? In this presentation, we’ll compare and contrast the perspective of the Department of Revenue with that of tax practitioners, highlighting the similarities and differences.
Tax Incentives – What Does Kentucky Have to Offer, and How Do I Get and Use Them?
Daniel Mudd, Member, Frost Brown Todd
Katie Smith, Commissioner, Financial Services Department, Kentucky Department of Revenue
Like many states, one-way Kentucky encourages economic development through the use of tax incentives. Tax incentives can include anything from income tax credits to sales and use tax refunds to wage assessments to property tax abatements, just to name a few. And while some incentives are available only to new or expanding businesses, those of us who are already here can benefit from tax credits and incentives, too. This session will provide information about the various tax incentive programs in Kentucky, how to obtain them, and once you do so, how to actually use them to benefit your business.
Lunch with Sponsors and Exhibitors
You Got an IRS Audit Letter – Now What?
Chaz Lavelle, Partner, Bingham Greenebaum Doll, LLP
This session will cover the various options during an IRS audit or litigation. Topics covered include important steps during the tax year and filing of the return, the IRS letter announcing the audit, the kinds of IRS audit, who represents the taxpayer, where the audit occurs, how long it should take, responding to the IRS requests for documents and an interview, resolution of agreed issues, the role of the statute of limitations, and the options if the IRS and taxpayer cannot agree at the audit level. The presentation will also cover the role and process involved with appealing one’s audit to the IRS Appeals Office, as well as the various court options to litigate a case. The presentation will also address "the cost of being wrong": the additional tax, penalty and interest.
Tax Reform and the Uncertainty Ahead for Business
Amy Sandlin, CPA, Tax Manager, Blue & Co., LLC
Miranda Aavatsmark, CPA, Tax Manager, Blue & Co., LLC
The first year after tax reform was dedicated to understanding its complexities and how it was going to impact individual companies. The one truism was that tax reform affected everyone a little bit differently. Now it’s time to plan for the future. Just like the initial tax reform effects, planning will be a little different for everyone, so we’re going to cover some of the big issues to be thinking about to lower your tax bill. We’re also going to discuss the uncertainty of future tax law and how best to account for this when planning.
Inaugural Kentucky Tax Conference Adjourns
Optional Post-Conference Ethics Workshop
Ethics and Professionalism for State Tax Professionals – For Your Eyes Only: Understanding Privileges/Protections in State Tax Practice
Chris Coffman, Member, Frost Brown Todd LLC
Topics covered include:
- Practical insights into relevant privileges and protections in state tax practice and tax controversy setting.
- Attorney-client privilege and dual-purpose communications that contain both legal and general business advice.
- Work product doctrine and the “anticipation of litigation” standard and application to internal tax workpapers.
- Derivative privilege under a Kovel arrangement and limited federal tax practitioner-client and state accountant-client statutory privileges.
- Waiver of privilege and protections.
- Best practices for preserving and asserting privileges and protections.
- Potential attacks to claims of privilege and protection.