2023 D.C. Bar Tax Legislative and Regulatory Conference

The Firm recently sponsored the 2023 D.C. Bar Tax Legislative and Regulatory Conference. Scott Levine, a partner in the Washington Office, chaired the event, which attracted over 700 attendees. This two-day event brought together senior government officials from the U.S. Department of the Treasury, the Internal Revenue Service, Capitol Hill, and the Organisation for Economic Co-operation and Development, as well as other top tax practitioners from law and accounting firms, and academics from the Washington, D.C. area and beyond, for in-depth discussions on a wide range of subject matter in the areas of individual, corporate, partnership, international, and energy taxation, as well as the latest issues in tax controversy and tax administration.

Jones Day partners participated at the conference on the following panels:

• Scott Levine moderated a panel entitled "Cross-Border M&A Update." He also interviewed Rep. Kevin R. Hern (R-OK), Majority Member of the House Ways and Means Committee, on the "Future of U.S. International Tax Policy" and moderated a roundtable discussion entitled "The Intersection of Tax and Mainstream Journalism."
• Lori Hellkamp participated on a panel entitled "Taxation of Cryptocurrency and Related Reporting Issues."
• Kelly Rubin participated on a panel entitled "Manufacturing Tax Credits and Incentives Under the IRA."

Three key developments, among several other topics, were highlighted by private practitioners and government officials at the conference:

• The new global minimum tax regime referred to as "Pillar Two," and its pending enactment by nearly all of the world's large economies by next year, will be challenging to navigate and require significant restructuring by multinationals in a relatively short period of time.
• Guidance under the newly enacted U.S. corporate alternative minimum tax is proving challenging for the government to draft and will be result in a significant compliance burden for in scope taxpayers.
• M&A and private equity deals will need to take into account both of the above-referenced minimum tax regimes to ensure the economic risks and benefits of a particular party's circumstances are adequately accounted for when negotiating a transaction's terms and conditions. 

To watch one or more the conference's panels, please click https://www.dcbar.org/news-events/signature-events/tax-legislative-and-regulatory-update-conference.