2012 Meeting of the Virginia Tax Study Group

Members of the University of Virginia School of Law tax faculty sponsor an annual tax symposium, the Virginia Tax Study Group, which is an opportunity for distinguished faculty and practitioners to come together to discuss and debate the latest tax issues.The most recent meeting of the Virginia Tax Study Group took place at the University of Virginia School of Law on Friday, March 30, 2012.

2012 Meeting Information
The next meeting of the Virginia Tax Study Group will take place at the University of Virginia School of Law on Friday, March 30, 2012, starting at 9:30 am and ending about 5:00 pm.  It will be followed by cocktails and dinner at the law school.

For those who wish hotel accommodations, we have reserved ten rooms in The Inn at Darden, which is across the street from the law school, for the nights of Thursday, March 29, and Friday, March 30.  If you would like accommodations for one or more of those nights, please call the Darden Gatehouse at 434-243-5000, identify yourself as a member or guest of the Virginia Tax Study Group, and give your credit card number.  The price of the rooms is $130 per night plus tax.

As you will see from the tentative schedule set forth below, the opening session for the program will be our usual “DC Panel” led by Mort Caplin, Rod DeArment, Cecily Rock, and possibly others, who will advise on 2012 tax law developments.  The remaining sessions will all involve discussions of important tax policy and tax administration issues.  We have a highly distinguished group of experts who will present and comment on these issues.

As we have in past years, we will make available written materials dealing with each of these topics.  We will send you an email with the Website location containing the papers and password information for access, and will send a PDF of the materials upon request.  As usual, we have reserved a significant amount of time for audience involvement and hope that all of you will actively participate in the program throughout the day.

2012 Tentative Meeting Schedule
9:30 – 10:45:   DC Panel with Mort Caplin of Caplin & Drysdale, Rod DeArment of Covington & Burling, Cecily Rock of the Joint Committee on Taxation, and possibly other participants, will discuss what will happen in the tax world in 2012.

10:45 – 11:00:  break

11:00 – 12:15:  There has recently been discussion about investment by U.S. taxpayers in foreign tax havens and proposals to make changes to U.S. taxation of international transactions.  Discussion in this meeting will focus on corporate investment in foreign tax havens and the relevance of this activity to U.S. international tax policy.  Daniel  N. Shaviro, Wayne Perry Professor of Taxation at New York University Law School will give the lead-in presentation; David S. Miller, Esq., Cadwalader, Wickersham & Taft, LLP, in New York, Michael E. Plowgian, Attorney-Advisor, Office of the International Tax Counsel, U.S. Treasury Department and David Lenter, Joint Tax Committee staff will comment; and Associate Professor Itai Grinberg, Georgetown Law Center, will moderate the discussion.

12:30 – 1:45:  lunch.  Michael J. Graetz, Isidor and Seville Sulzbacher Professor of Law, Columbia Alumni Professor of Tax Law, Columbia Law School, will address the group during the lunch.

2:00 – 3:30: Participants in retirement plans have long benefitted from favorable treatment under the U.S. income tax.  Last year, the President’s Budget Commission suggested that contributions to 401(k) plans, now the most common type of retirement plan, be subject to a 20/20 cap.  This proposal, or similar proposals to limit the tax benefits for retirement plans, may be under serious consideration in the near future.  The discussion in this meeting will consider tax policy implications for future retirement security.  Norman P. Stein, Professor of Law at Earle Mack School of Law, Drexel University, Philadelphia, PA, will give the lead-in presentation; Teresa Ghilarducci, Bernard L. and Irene Schwartz Professor in Economic Policy Analysis and Director, Schwartz Center for Economic Policy Analysis (SCEPA) at the New School for Social Research, New York, Mark J. Ugoretz, President and CEO of the ERISA Industry Committee (ERIC), Washington, D.C., and Leora Friedberg, Associate Professor, Department of Economics, University of Virginia will comment; and George Bostick, Benefits Tax Counsel, U.S. Treasury Department will moderate.

3:30 – 3:45:  break

3:45 – 5:00:  In January, 2011, the Supreme Court decided Mayo Foundation for Medical Education and Research v. United States, 131 S.Ct. 704 (2011).  This decision has provoked a lot of discussion about the rulemaking activity of the Internal Revenue Service.  The discussion in this meeting will consider the implications of this decision for IRS administration.  Steve R. Johnson, University Professor, College of Law, Florida State University, Tallahassee, FL will give the lead-in presentation; Gilbert S. Rothenberg, Chief, Appellate Section, U.S. Department of Justice, Tax Division, Patrick J. Smith, Esq., Ivins, Phillips & Barker, Washington, D.C., and Karen C. Burke, Warren Distinguished Professor of Law, University of San Diego, School of Law, will comment: and James L. Malone, Jr., who is an adjunct professor at Virginia, will moderate.

5:15 – 8:00:  Cocktails and dinner at the law school.