Saturday, October 21

8:30AM – 11:30AM

Corporate Tax

Chair:  Karen Gilbreath Sowell, Ernst & Young LLP, Washington, DC

8:30am            Opening Remarks by the Chair.

8:35am            Spin-Offs:  Active Trade or Business Developments and Administrative Guidance. This panel will discuss new provisions added by TIPRA regarding the active trade or business requirement for section 355, as well as recent administrative guidance. Moderator:  Kathleen L. Ferrell, Davis Polk and Wardwell, New York, NY.  Panelists:  Stephen P. Fattman, Special Counsel to the Associate Chief Counsel (Corporate), IRS, Washington, DC; Will Dixon, Citigroup Global Markets Inc, New York, NY.

9:35am            Zero Basis - Alive or Dead? This panel will address the recent revocation of Rev. Rul. 74-503 and whether an issuing corporation does/should have a zero basis in its stock or debt.  Moderator:  Jerred G. Blanchard Jr, Ernst & Young LLP, Houston, TX.  Panelists:  William D. Alexander, Associate Chief Counsel  

10:35am          Hot Topic Debate: Coltec.  This debate will explore the recent decision in Coltec Industries, Inc. v. US.  Panelists: Herschel M. Bloom, King & Spalding LLP, Atlanta, GA; Robert H. Wellen, Ivins Phillips and Barker, Washington, DC.

11:05am          Hot Topic Debate: Pre-Reorganization Distributions/Redemptions.  This debate will explore the issues related to distributions and redemptions that occur prior to a potential tax-free asset reorganization.  Panelists:  Jasper L. Cummings Jr, Alston & Bird LLP, Raleigh, NC; Professor Mark L. Yecies, Columbia Law School, New York, NY.