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Legislation, foreign tax reporting topped conference

Geoffrey S. Mullen
Published Date:
Feb 11, 2016

Legislation, foreign tax reporting topped conference

By GEOFFREY S. MULLEN  |  Chair, Northeast Chapter Taxation Committee

 The NYSSCPA Northeast Annual Tax Conference was held on Dec. 2, at the Hilton Garden Inn in Troy. The conference was well attended by members in the Northeast Region, who were eager to prepare themselves for the upcoming filing season.

Three of the four presenters provided tax updates for three different arenas. The first two presenters were from Hodgson Russ. Ariele Doolittle, Esq., provided a New York state tax update, while Jennifer M. Boll, Esq., provided an update on federal taxation. Seasoned presenter John H. Lavelle, of Lavelle & Finn LLP once again provided the conference with an extensive update on estate and trust tax.

New legislation was the most important topic. Although it will not take effect until the 2017 filing season, changes to partnership and corporate return due dates is important to know now in order to start planning accordingly. Changes to the New York law includes net operating losses being computed separately, with no reference to federal net operating loss. Sourcing of New York income continues to be a hot topic in many recent cases.

Foreign tax reporting was also a major topic of the conference. Christopher J. Byrne, Esq., of Christopher J. Byrne PLLC, presented this portion of the conference.

 Byrne provided a very informative outline of how to deal with clients who are foreign investors, and the many situations that can arise from that. 

 We look forward to another great conference at the end of 2016!

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