Friday, January 19

2:00PM - 5:30PM

S Corporations

Chair:  Carol Kulish Harvey, Deloitte Tax LLP, Washington, DC

2:00pm                  Opening Remarks by the Chair.

2:05pm                  Important Developments.  Discussion of recent
     legislative, administrative, and judicial developments
     relating to S corporations and their shareholders. 
     Moderators:  Laura Howell-Smith, Deloitte Tax LLP,
     Washington, DC; Michael Gould, Grant Thornton
     LLP, Washington, DC.

2:35pm                  New Charitable Giving Incentives for S Corporations
     Under the Pension Protection Act of 2006.  This
     panel will discuss the temporary basis adjustment
     provision for charitable contributions of property by
     S corporations contained in the Pension Protection
     Act of 2006.  The panel will address the potential
     applicability of the provision as well as possible
     issues raised by the statutory language.  Moderator: 
     Thomas J. Nichols, Meissner Tierney Fisher &
     Nichols SC, Milwaukee, WI.   Panelist:  Jeanne E.
     Sullivan, KPMG LLP, Washington, DC.

2:55pm                  Update on Back-to-Back Loans and Debt Basis.  This
     panel will discuss structuring loans to obtain basis
     for S corporation shareholders, including back-to-
     back loans, with a particular emphasis on recent case
     law and rulings.  Moderator:  Stephen R. Looney,
     Dean Mead Egerton Bloodworth Capouano &
     Bozarth PA, Orlando, FL.  Panelist:  Ronald A. Levitt,
     Sirote & Permutt PC, Birmingham, AL.

3:30pm                  Stock and Stock-Based Compensation Paid by S
     Corporations.  This panel will examine the impact of
     issuing stock or stock-based compensation on an S 
     corporation''s election and allocations of profits and
     losses.  The panel also will discuss the application of
     section 409A to stock and stock-based compensation
     paid by an S corporation.  Moderator:  John
     Truskowski, Lord Bissell & Brook, Chicago, IL.

4:30pm                  Taxable Acquisitions of S Corporations.   This panel will
                             discuss issues that arise in structuring a taxable 
                             purchase of an S corporation, with a focus on both the 
                             buyer’s and the seller’s perspective.  Moderator:  
                             William D. Klein, Gray Plan Mooty Mooty & Bennett 
                             PA, Minneapolis, MN.  Panelist:  John S. Harper, 
                             Morrison & Foerster LLP, McLean, VA.