**Please note the time change from the Preliminary Program. The Preliminary Program has the incorrect time for the Real Estate meeting from 9am - 12pm. The meeting will be held from 8:30AM - 11:30AM
Friday, October 20
8:30AM - 11:30AM
Real Estate
Chair: James M. Lowy, Ernst & Young LLP, San Francisco, CA
8:30 am Opening Remarks by the Chair.
8:35 am REITs -- Going Abroad and Other Timely Issues. The globalization of the real estate market has led REITs to invest increasingly overseas. When operating globally, a REIT must consider numerous issues for which there is limited guidance under the REIT rules, including the treatment of currency gains and subpart F income. These and other issues will be discussed. Moderator: Peter J. Genz, King & Spalding LLP, Atlanta, Georgia. Panelists: Joseph G. Howe, III, Arnold & Porter LLP, Washington DC; Charles B. Temkin, Deloitte Tax LLP, Washington DC.
9:20 am Section 199 and Other Hot Topics. This panel will discuss recent regulatory guidance under Section 199 and other developments in real estate taxation. Moderator: Michael Hirschfeld, Dechert LLP, New York, NY. Panelists: Paul F. Kugler, KPMG LLP, Washington, DC; William O''Shea, Acting Associate Chief Counsel, Passthroughs & Special Industries, Internal Revenue Service, Washington, DC.
10:00 am Exchanges of Oil and Gas Properties. This panel will discuss issues that arise in the exchange of oil and gas properties. Panelists: Richard M. Lipton, Baker & McKenzie, Chicago, IL; Kevin Thomason, Thompson & Knight LLP, Dallas, TX.
10:30 am Debt-Financed Distributions by Real Estate Partnerships. This panel will discuss techniques for the extraction of cash from real estate partnerships and the associated tax consequences. Panelists: Glenn E. Dance, Ernst & Young LLP, Washington DC; John D. Rayis, Skadden, Chicago, IL.
