The panel discussion will be led by Eric Lucas, former U.S. Treasury Department official and a key architect of the Repair Regulations.  Mr. Lucas, who recently joined KPMG's Washington National Tax practice, will be joined by leading capitalization experts from KPMG's Washington National Tax practice: Lynn Afeman, James Atkinson, and Carol Conjura.

During the webcast, panelists will discuss the new regulations in detail, including:

• Background, intended scope, and application of the new Repair Regulations
• New capitalization standards, including special safe harbors and de minimis rules
• Industry specific guidance
• Effective dates, transition rules, and potential change in accounting method procedures
• The practical impact of these changes and their potential effect  on pending IRS audits
• Next steps

KPMG LLP invites you to an audio webcast on recent competent authority and arbitration developments. Global Transfer Pricing Services professionals from KPMG International member firms in the United States, Canada, and Germany:

• Provide an overview of the competent authority process, including a summary of the competent authority statistics released by the IRS on December 27, 2010
• Review the general mandatory arbitration clauses in U.S. income tax treaties
• Detail the specifics of the Canada-U.S. tax treaty mandatory arbitration procedure as outlined in the Memorandum of Understanding and Guidelines issued by the IRS and Canada Revenue Agency competent authorities
• Discuss experiences with the Germany-U.S. and EU arbitration processes and what they may mean for the Canada-U.S. arbitration process

The Webcast also focuses on possible alternative operating models as well as the considerations that arise when companies modify and enhance their current Asian supply chain structures.

Read the summary of Webcast polling results.

Topics discussed include:

• Automatic Waiver of Foreign Information Reporting Penalties
• Types of voluntary disclosures, including those pursuant to the IRS’ voluntary disclosure initiatives
• Foreign information returns and applicable penalties
• Terms & Conditions
• Insights on program’s scope
• Compliance Assurance Process Expanded and now-permanent program
• Taxpayer experiences
• Benefits of the permanent program
• Schedule UTP Updates

• Recent developments with the implementation of the Dodd-Frank Act and Basel III
• FATCA & Notice 2011-53
• The recently finalized section 381(c) regulations

• Tax issues with strategic and financial bank acquisitions and investments
• Recently-released guidance on debt held by REITs
• Final and proposed regulations affecting the taxation of debt
• An update on legislative developments, including potential legislation in the new Congress affecting banks
• The latest developments with financial services regulatory reform

Join professionals from KPMG LLP’s Financial Services and Washington National Tax groups for this insightful discussion. The topics covered include updates on:

• The recently-released industry director’s directive on section 475
• An update on the Foreign Account Tax Compliance Act (FATCA), including Notice 2010-60
• The recently-issued final regulations on the reporting of foreign bank accounts (FBAR)
• The treatment of deferred tax assets (DTAs) under Basel III

• Dodd-Frank Wall Street Reform and Consumer Protection Act
• The Administration's proposed bank tax
• Recent industry developments in state and local tax
• Other relevant industry issues, including an update on loan modifications and FDIC-assisted transactions

• An update on current legislation, including the “bank tax” and the Super Committee
• Recent developments with the implementation of the Dodd-Frank Act and Basel III
• New developments and issues in bank M&A

Speakers: Tom Stout, director, Washington National Tax; John Bush, managing director, Global Banking; Denise Schwieger, principal, Financial Services; and John Simon, principal, Mergers & Acquisitions Tax, KPMG LLP. 

• Pending legislative proposals
• Recently enacted international tax provisions
• Foreign Account Tax Compliance Act (FATCA) Update
• Section 6050W reporting

Two senior tax professionals from KPMG in China -Tax Partner Abe Zhao and Global Transfer Pricing Services Director Leonard Zhang - will provide an update on tax developments in China in the context of topics and types of issues they have been discussing with U.S. companies over the last several weeks, during a coast-to-coast tour of many U.S. cities. Zhao and Zhang will be joined on the webcast by KPMG LLP's Linda Zhang, partner in charge of the U.S. China practice, and Rod Lawrence, U.S. principal in charge of International Corporate Tax, for their insights on the following areas:

• China's tax restructuring rules
• Nonresident taxation - impact of Circular 601 and Circular 698
• Transfer pricing in China - updates, recent developments, and key trends

Many legacy IT solution providers have adopted – or are in the process of adopting – cloud business models. Numerous cloud offerings are also cropping up from non-legacy IT solution providers, such as telcos, computer hardware vendors, and innovative IT “newcomers.” Furthermore, it’s become clear that cloud has moved beyond a technology discussion and become a key priority for business leaders.

Whether your company plans to adopt a customer-facing cloud offering, build its own private cloud, or participate in a public cloud in some fashion, it will be important for company executives to be aware of numerous international tax issues related to the cloud.

KPMG LLP invites you to a 75-minute audio webcast on international tax considerations in the cloud and risks from resulting tax uncertainties. Senior tax professionals from KPMG’s International Corporate Services and Washington National Tax practices will cover:

 
Primer on the Cloud

• Software as a service (SaaS)
• Platform as a service (PaaS)
• Infrastructure as a service (IaaS)

Cloud Vendor Issues

• Character and source of income
• Withholding tax
• Permanent establishment and effect of treaty provisions
• U.S. anti-deferral regime (Subpart F)

Cloud User Issues

• Character and source of income
• Withholding tax
• Permanent establishment and effect of treaty provisions
• U.S. anti-deferral regime (Subpart F)
• Transfer pricing considerations
• Indirect taxation: VAT

For the 2009 tax year, Massachusetts, West Virginia, and Wisconsin moved from a separate reporting regime to combined reporting. As the 2009 income tax filing season gets underway, taxpayers doing business in these states will have to file these combined reports for the first time, and there are a number of issues they need to be aware of as they prepare their 2009 combined reports.

On this TaxWatch Webcast, professionals from our State Tax Resource Network provide a primer on combined reporting in Massachusetts, West Virginia, and Wisconsin, and discuss:

• Nuances and possible traps in each state
• Differences between the new combined reporting states and states that have required combined reporting for years

During this Webcast, we received a large number of questions and in response have put together a Frequently Asked Questions document for your reference.

Part 1: Downward Transfer Pricing Adjustment Refunds and Customs Related Party Pricing Update

Historically, U.S. Customs and Border Protection (CBP) has not allowed post-importation transfer price decreases to transaction value because CBP considers such decreases to be a post-importation rebate or decrease. As reported during KPMG’s June 11, 2010, TaxWatch webcast Use of Transfer Pricing to Support Customs Related Party Pricing, CBP was reconsidering its policy on post-importation transfer price decreases, and CBP now may soon allow companies whose imported merchandise is subject to retroactive post-importation transfer pricing adjustments to use the transaction value method of appraisement and to file for duty refunds.

Professionals from KPMG’s Trade & Customs Services and Global Transfer Pricing Services practices discuss this and other related party pricing developments of interest to U.S. importers and overseas exporters, covering:

• CBP’s proposed new policy on downward adjustment refunds
• New CBP rulings affecting related party pricing
• How a recent World Trade Organization ruling could benefit multinational enterprises
• Recommendations for planning ahead to effectively use potential future changes

Part 2: Recently Implemented Free Trade Agreements

On Oct. 21, 2011, President Obama signed legislation implementing the Korea, Panama, and Colombia free trade agreements (FTAs), and legislation retroactively reinstating the Generalized System of Preference (GSP) for 2011.

Professionals from KPMG’s Trade & Customs Services practice discuss the status of each FTA, how to effectively use these agreements, and how to leverage GSP savings for calendar year 2011. Topics addressed include:

• Overview of each of the recently-signed FTAs
• In-depth discussion of Korea-US FTA (KORUS)
• Conducting feasibility studies on the implementation of new FTAs

Speakers: Todd R. Smith, managing director, Amie Ahanchian, managing director, and Kyung Yun Lee, senior associate — Trade & Customs Services, and Clark J. Chandler, PhD, principal, Global Transfer Pricing Services | KPMG LLP

These reforms are expected to accelerate the shift away from direct taxes towards indirect taxes, like VAT, presenting many new risks, challenges and opportunities for businesses operating globally. 

On this TaxWatch Webcast, partners and professionals from KPMG's Global Indirect Tax practice discuss issues outlined in the whitepaper and such steps as: 

• Modeling techniques to assess the impact of local VAT changes
• Using emerging technologies to increase automation of the indirect tax process
• Deciding whether to outsource new compliance obligations
• Understanding the audit environment in new jurisdictions

Topics covered in this session include:

• The common law factors for determining worker classification
• Eligibility for the VCSP and the terms of settlement
• Existing programs for resolving worker misclassifications, such as Section 530 relief and the Classification Settlement Program (CSP)
• The impact of reclassification on employee benefit plans
• Procedural rules for participating in the VCSP

On this TaxWatch webcast, professionals from KPMG's Trade & Customs group discuss the process by which antidumping duties are imposed on imported goods and ways importers can reduce exposure to these assessments.

Topics addressed include:

• Antidumping investigations and options to address antidumping duty order implementation
• Differences between antidumping deposits and antidumping duty assessments at the time of liquidation
• Administrative review process and retroactive nature of antidumping duty assessments
• Reducing exposure for goods subject to antidumping duties
• The interplay between U.S. Customs and Border Protection and the Department of Commerce with respect to antidumping duties
• High-risk supply chain structures
• Proactive planning to mitigate antidumping duty liability
• Options with respect to antidumping duty bills

This TaxWatch webcast provides an overview of the FATCA withholding regime, review the framework and implementation guidance provided in the recent notice (in comparison with the prior 2010 guidance), and highlights what can be done to prepare for the January 1, 2013, effective date. Among the specific topics discussed include:

• Procedures that participating foreign financial institutions (FFIs) are to follow in identifying U.S. accounts among their pre-existing individual accounts
• Definition of "passthru payment" and the obligation of FFIs to withhold on passthru payments
• Obligation of FFIs to report with respect to U.S. accounts
• Rules for the treatment of qualified intermediaries under section 1471
• Application of section 1471 to expanded affiliated groups of FFIs
• Effective date of FFI Agreements

Though Congress deferred much of the implementation of this new regime to the Treasury, it is apparent that implications surrounding the new withholding regime are wide-ranging for financial institutions as well as for many other entities that operate on a global basis. Since the enactment of this legislation, we have gained some insight from Treasury and Internal Revenue Service (IRS) officials. However, many questions remain unanswered.

On this TaxWatch Webcast, KPMG professionals review the information that is currently available, discuss what can reasonably be done now in preparation for the implementation of the regime in 2013, and look at what is likely to happen in both the short and long terms.

This Webcast is designed for tax professionals involved with federal tax compliance issues. The 60-minute discussion covers:

• Who must file the FBAR
• What is considered a foreign financial account
• What constitutes a financial interest in a financial account
• What constitutes signature or other authority over an account
• Exceptions from the reporting requirement
• Penalties that may be imposed for reporting failures
• Proposed regulations issued by Treasury
• A new reporting requirement affecting individuals

The 60-minute discussion covers: 

• Who must file the FBAR
• What is considered a foreign financial account
• What constitutes a financial interest in a financial account
• What constitutes signature or other authority over an account
• Exceptions from the reporting requirement
• Procedural rules for filing the FBAR
• Penalties that may be imposed for reporting failures
• A new reporting requirement affecting individuals

On this TaxWatch Webcast, KPMG professionals have the unique opportunity to discuss the preliminary guidance with Steven Musher, Associate Chief Counsel (International) from the IRS. The panel highlights the clarifications made by Notice 2010-60 and discusses what is likely to happen from a legislative and regulatory standpoint before implementation of the FATCA regime in 2013.

These law changes, and other tax developments of interest to international assignees and their employers is the focus of this KPMG TaxWatch Webcast.  Partners and professionals from KPMG's International Executive Services and Washington National Tax practices discuss the the following topics:

Healthcare reform legislation:

• 0.9%  increase in employee Medicare payment
• 3.8%  additional tax on "unearned" income
• Excise tax on lack of coverage and excise tax on "Cadillac" coverage
• Discrimination provisions for non-grandfathered health plans

The HIRE Act:

• Payroll tax exemption for hiring new workers
• Business credit for retention of certain newly hired workers in 2010
• Foreign account tax compliance (FATCA)

Other legislative developments: 

• Section 409A guidance
• Looking forward: Expiring tax provisions

It will be of particular interest to tax, finance, and HR professionals involved with global mobility who wish to understand key changes in relation to international assignees, cross-border commuters, short-term business visitors, and special groups.

Partners and professionals from our India, U.K., and U.S. member firms discuss:

• Recent changes to the Indian social security regime and Indian immigration law changes
• E.U. update relating to practical issues resulting from the implementation of EU Regulation 883/2004
• U.S. social security tax update, including the impact of the new Indian rules on international assignee programs

The ruling affects how India's tax authorities approach similar transactions, as well as outlines the next steps the Government of India might take in the forthcoming Union Budget of India and proposed Direct Tax Code.

This webcast, hosted by KPMG's High Growth Markets practice, features Arun Kumar, principal in charge of KPMG LLP's U.S.-India practice; Vikas Vasal, Tax partner with KPMG in India (on rotation in the United States); and Charles Cope, International Tax principal in KPMG LLP's Washington National Tax practice. They provide their insights regarding:

• Overview of the Vodafone ruling
• Possible impact on similar transactions and foreign investments
• Life beyond Vodafone—review and action steps by companies, both immediate and future

About KPMG's High Growth Markets

KPMG's High Growh Markets (HGM) practice provides audit, tax, and advisory services to U.S.-based companies in their pursuit of outbound investment opportunities in high growth and emerging markets, such as China, India, Brazil, Russia, Mexico and Vietnam. In addition, HGM provides services to high growth market-based companies with inbound investment interest in the United States. For more information, please click here.

Join professionals from KPMG's Insurance practice for a discussion of reserve issues and recent IRS guidance.

Topics to be discussed include:

• Life reserves
  • Effective date and authoritative weight of Actuarial Guidelines
  • American Financial and Cigna cases

• Property and casualty reserves
  • The "reasonableness" standard
  • Reserve strengthening after an acquisition
  • Acuity and Sentry cases

• The potential implications of Revenue Ruling 2011-29 for policyholder dividend deductions

• AG 43 Notice
• FATCA Update
• Uncertain Tax Positions Disclosure
• SA DRD Update
• New Section 162(m)(6) Remuneration Limitation for Health Insurance Providers

Join KPMG partners Craig Pichette and Kim Sellers, and James J. Shea, vice president & chief tax officer, Prudential Financial, Inc., for a comprehensive overview of the exposure draft of the Statement of Statutory Accounting Principles No. 101, Income Taxes, A Replacement of SSAP No. 10R and SSAP No.10.

Topics discussed include proposed changes involving: 

• Uncertain tax positions
• Deferred tax asset admissibility standards
• Tax planning ideas
• Additional required disclosures

Join professionals from KPMG's Insurance practice and Washington National Tax for a comprehensive overview of the exposure draft of the Statement of Statutory Accounting Principles No. 101, Income Taxes, A Replacement of SSAP No. 10R and SSAP No.10. 

Topics discussed include: 

• Tax Loss Contingencies
• Recognition and Measurement
• Statutory Valuation Allowance
• Admissibility of Deferred Tax Assets
• Realization of Tax Benefits
• Tax Planning Strategies
• Disclosures

This one-hour audio Webcast presented by senior-level professionals with extensive experience in international tax, transfer pricing, and valuations covers:

• An overview of requirements for valuations of intangibles under PPAs and transfer pricing
• How the requirements are different, highlighting the additional requirements for tax and transfer pricing
• Examples that compare fair value and transfer pricing valuations to illustrate their similarities and differences.

• Developments with the Uncertain Tax Position form
• Section 6501(c)(8)
• Potential Changes to the Tiered Issue Process
• CAP Program
• International Tax Audit Trends

Join professionals from KPMG LLP’s Financial Services and Washington National Tax groups for this insightful discussion. Topics covered include updates on:

• Tax treatment of Section 1256 contracts
• Internal Revenue Service regulations 1.1001-4
• Internal Revenue Code Section 871(m)
• Other developments under Dodd-Frank

A recent survey conducted by KPMG International found that governments around the world have been under unprecedented pressure to address the need for increased tax revenues. As a result, tax authorities have continued to step up efforts to improve the efficiency and effectiveness of their approaches to tax audit controversies. 

This one-hour Webcast is presented by senior-level tax controversy professionals who discuss what companies need to consider when faced with an IRS examination or audit. Topics covered in the first session include: 

• Understanding your exam team; exam location; providing space for the team and other strategic considerations
• The information gathering process: IDRs, Q&As, Summonses, and 982 letters
• Impact of the currency initiative
• Statute Extensions: IRS policy, timing, and types of extensions
• Form 5701: What kind of response works best?
• Preparing your case for appeals.

This one-hour audio Webcast provides an overview of the final Schedule UTP form and the related IRS guidance. Professionals from KPMG LLP's Washington National Tax practice will cover:

• Announcement 2010-75: Release of final Schedule UTP and instructions
• Announcement 2010-76: IRS expansion of its policy of restraint
• New IRS Field Directive: Initial guidance addressing Schedule UTP examinations and related matters
• Anticipated changes to CAP Program and other IRS initiative programs
• Filing the first Schedule UTP - some practical considerations.

Attendees to this Webcast on October 8, 2010, were polled about their current views on the uncertain tax reporting requirements. More than 700 tax executives responded. Read the Schedule UTP, IRS Guidance on Uncertain Tax Position Reporting Responses to Audience Polling Questions.

• What is the new excise tax and how does it work?
• Which devices are subject to tax?
• Who is liable for the tax?
• How do tax-free sales work?
• How will the tax be reported and paid to the IRS?
• What immediate steps need to be taken for compliance purposes?
• Who bears the burden of the tax?
• Is the tax deductible?
• Who should submit comments to IRS?

With the reporting of new Form 1099-K effective for transactions in 2011, it is critical that those subject to reporting take steps now to be in compliance.

This program is designed for tax professionals involved with federal tax compliance issues. Among the topics covered are:

• What constitutes a payment card and third-party network transaction
• Who has responsibility to file Form 1099-K
• Special rules for intermediaries
• How the backup withholding rules will apply
• Exceptions from the reporting requirement
• Penalties that may be imposed for reporting failures
• Key reporting implementation challenges

These tax increases include revising the taxation of software, eliminating certain key sales and use tax exemptions, limiting net operating losses, and adopting unique new information reporting requirements on retailers that do not collect Colorado sales tax. Many of the changes went into effect on March 1, 2010.

In this Webcast, Professionals from KPMG's Washington National Tax office as well as members of our Colorado State Tax Resource Network discuss the recent changes and the potential impact on companies doing business in Colorado or making sales to Colorado customers.

In addition to allowing the section 382 analysis to take shifts attributable to fluctuations in relative value into account, the notice provides two alternative methodologies for backing out the effect of such fluctuations. The notice also allows for various alternative approaches to a number of components of each methodology. Thus, a loss corporation that has ever had more than one class of stock outstanding should reassess its prior section 382 calculations to determine if it can avoid or mitigate the effect of section 382 limitations to allow for a more beneficial utilization of its NOLs and other attributes.

During this TaxWatch Webcast, KPMG Washington National Tax and Mergers & Acquisitions Tax professionals explain the differences between the alternative approaches.

Notice 2010-92 is the first of several pieces of guidance that Treasury and the IRS expect to issue under section 909. The notice primarily addresses the application of section 909 to foreign income taxes paid or accrued by a section 902 corporation in taxable years beginning on or before December 31, 2010 (referred to in the Notice as "pre-2011 taxable years").

This one-hour audio webcast covers Notice 2010-92 and the splitter rules and their impact on multinational corporations. Professionals from KPMG's Washington National Tax practice:

• Review the provisions of section 909
• Provide an overview of the guidance in Notice 2010-92 and discuss what companies with pre-2011 foreign tax credit splitting arrangements may want to do before year end and will need to do going forward to comply with the notice
• Discuss what may be expected in further guidance

A recent survey conducted by KPMG International found that governments around the world have been under unprecedented pressure to address the need for increased tax revenues. As a result, tax authorities have continued to step up efforts to improve the efficiency and effectiveness of their approaches to tax audit controversies.

This 100-minute audio Webcast is presented by senior-level tax controversy professionals, who discuss the resolution strategies companies need to consider when faced with an unagreed case. Topics covered in this session include: 

• The Form 5701 Process.
• Early Referral: When does it make sense?
• Fast Track Resolution: The process and strategy around using this Alternative Dispute Resolution tool.
• Traditional Appeals: How to prepare, what to expect, and how to resolve your issue.
• Post Appeals Mediation and Arbitration: How they work and what you need to know.

Act 32 requires the employer to have all employees, living and/or working in PA, complete a residency certification form by December 31, 2011. Failure to comply may result in audits, assessments, interest and penalties. Most payroll service bureaus are dealing with the withholding logic required by this law in their systems but are not addressing the requirement to gather and maintain residency certifications (beyond December 31, 2011).

On this TaxWatch webcast, professionals from KPMG’s U.S. Indirect Tax practice:

• Provided an overview of Pennsylvania Act 32
• Described some of the obvious and not so obvious compliance requirements
• Explained the continuing and archival requirements
• Clarified the withholding tax collection process and documentation which needs to be developed

KPMG LLP invites you to a one-hour audio webcast on the budget presented by professionals from KPMG's Washington National Tax office. Presenters review the current proposals and their prospects for enactment, highlighting changes and possible implications for corporate taxpayers. In addition to a high-level overview of the budget's revenue proposals, the following specific proposals, or groups of proposals, are discussed:

• Taxation of carried interests in investment partnerships as ordinary income
• Research credit, LIFO, and other proposed accounting changes
• Energy incentives and revenue offsets
• Proposed changes in the U.S. taxation of foreign income

This proposed legislation would represent a fundamental change in the taxation of the Funds Industry.

• Do you understand the far reaching implications of the proposed legislation?
• Are you considering planning or restructuring before the proposed January 1, 2011 effective date?

This TaxWatch Webcast includes a discussion around the proposed provisions (including possible pitfalls and planning considerations). Additionally, partners and professionals from KPMG LLP discuss the potential commercial implications of the proposed legislation for the Fund Industry.

The Board issued proposed changes to the FTZ regulations in December 2010. The public comment period for these regulations ends on May 26. Among the stated reasons for the proposed changes is the desire to "expedite and encourage foreign commerce." Companies with existing FTZs and those considering the establishment of a zone should be aware of the proposed regulatory changes to determine any potential impact on company operations.

This TaxWatch webcast highlights the proposed changes to U.S. FTZ Board regulations. Presenters review the current regulations and discuss the potential implications of the proposed regulations. Among the specific topics discussed, which tax, finance, and logistics executives with import or export operations will find of interest, are proposed changes to Board regulations governing the following areas:

• FTZ manufacturing and processing authority
• Public utility and uniform treatment
• Fines and penalties
• Other key areas

 International copyright, 2011, U.S. Department of Commerce, U.S. Government.

The webcast will cover: 

• New regulations in the taxation of derivatives, clarifying the treatment of credit default swaps, bullet swaps, weather and insurance swaps 
• Treasury’s interpretation of the last page of the Dodd-Frank Act and its potential affect on the taxation of derivatives
• Are the new regulations binding on taxpayers? How should taxpayers relate to them?
• The expanded definition of notional principal contract, which may increase the scope of section 871(m) relating to withholding on dividend equivalent payments on cross-border equity swaps
• The uncertainty regarding timing rules applicable to additional NPCs
• Regulations on the timing and character of derivatives following on when the most recent regulations are expected 
• How should credit default swaps be accounted for? And what about bullet swaps? The Treasury and IRS have left many questions unanswered and have asked for taxpayer input into the newest round of regulations. How should we respond?

Among the topics covered during this Webcast are insights into how the U.S. international tax landscape may be affected by the current bill, and the issues and aspects forward-looking tax executives may want to address.

Presented by senior-level professionals with extensive experience in international tax, the Webcast provides an overview of the:

• Various FTC reform proposals
• Other provisions with international tax impact, including changes related to sections 304(b)(5) and 6501(c)(8),the boot within gain limitation, and "80/20" companies
• Next steps and possible timing in the legislative process

• New reporting requirements for uncertain tax positions
• The Regulated Investment Company Modernization Act
• Foreign Account Tax Compliance Act (FATCA)
• Other relevant industry issues, including an update on cost basis reporting, the section 1256 provisions of the Dodd-Frank Act, and the tax implications of the UCITS IV Directive.

• Regulated Investment Company (RIC) Modernization Act: an overview of the proposed legislation and a discussion of what you need to do to prepare.
• Foreign Account Tax Compliance Act (FATCA): a discussion on the recently-enacted provisions and how the new law may affect your reporting requirements.
• Update on EU Reclaim Matter for U.S. RICs.
• Cost Basis Reporting: an overview and identification of some concerns for RICs.

This webcast highlights the recently issued revenue procedure, what is means for shareholder data retention, how to guard against downward basis adjustments, and what issuers can expect from the bank and broker/dealer community regarding the retention of cost basis information.

Experienced professionals from KPMG's Shareholder Tax Basis & Identification practice and Washington National Tax cover:

• Review of common basis transfer transactions
• The four methods for basis determination under Revenue Procedure 2011-35
• Data retention leading practices to avoid downward basis adjustments
• Overview of bank and broker/dealer cost basis data reporting guidelines

On this TaxWatch Webcast, professionals from KPMG's State and Local Tax Washington National Tax practice and U.S. Indirect Tax practice provide an overview of state sales tax and the compliance issues related to exemption certificates documenting such exemptions.

During the Webcast, the audience was polled regarding their processes and procedures for exemption certificate maintenance and issues with exemption certificate compliance. Read the Summary of Survey Responses for the Sales Tax - An Explanation of Exemptions Webcast.

While many questions cannot be answered definitively, the panelists provide an overview of key legislative and gubernatorial tax plans in a number of states. With many new legislators and governors in office, and the states' continued need for additional tax revenues in light of ongoing deficits, the 2011 legislative sessions should prove to be interesting. Join us as we navigate through the many tax proposals state tax professionals need to be aware of.

For further information on the latest state and local tax issues, please tune into This Week in State Tax (TWIST). TWIST features a series of short podcasts hosted by our Washington National Tax professionals who cover state and local tax developments dating from the previous week.

On this TaxWatch webcast, Harley Duncan, Sarah McGahan, and Jon Sedon from KPMG's State and Local Tax Washington National Tax practice wade through new laws, pending proposals, and discuss the most interesting state tax trends of 2011.

Specifically, they cover new click-though and expanded sales and use tax nexus standards, tax rate increases and decreases, and other changes affecting business taxpayers. In addition, State Tax Resource Network professional, Mike Deal, provides an update on recent legislative activity in Michigan.

As many states' have not yet balanced their budgets, the speakers also discuss a number of significant legislative proposals that remain outstanding.

The new Social Insurance Law, which took effect July 1, 2011, expanded China’s social insurance program to include expatriate employees. On September 6, 2011, the government subsequently released the Interim Measures for the Participation in Social Insurance by Foreigners working in China, which took effect October 15,  2011. However, a lack of local implementation rules has led to enforcement lagging behind the law and local practice varying from one city to another.

To help clarify the matter, China's Ministry of Human Resources and Social Security released Renshetingfa[2011] No.113 (the 'Circular') on December 6, 2011, urging foreigners working in China to participate in the program.  The Circular provides insight into what expatriate employees and their employers should expect in terms of implementation, which is likely to take place in the near future.

During this Webcast, professionals from KPMG's U.S. International Executive Services practice and KPMG in China will provide an overview of the new rules and discuss:

• Registration requirements
• Practical advice on complying with the new rules
• Refund of contributions
• Chinese social security totalization agreements currently in effect as well as those under consideration and how they impact the new rules
• U.S. income and social security tax implications of employer and employee contributions
• Tax equalization policy issues

On this TaxWatch webcast, professionals from KPMG's State and Local Tax Washington National Tax practice wade through significant legislative and administrative changes that impact how 2011 returns will be filed, such as new combined reporting provisions and sales factor sourcing changes. In addition, the discussion includes the many issues that need to be considered when determining whether to make the single-sales factor election available in California for 2011. Finally, the group focuses on the fiscal state of the states and discuss potential legislative changes that will be considered during the upcoming 2012 state legislative sessions.

As predicted, many of the recently enacted legislative proposals have been aimed at balancing budgets and closing historic deficits. Many states have also acted to spur economic growth and encourage job creation by adopting employer credits or other economic incentives aimed at particular industries.

On this KPMG TaxWatch Webcast, professionals from KPMG's State and Local Tax Washington National Tax practice discuss recently enacted legislation, including significant tax increases recently signed into law in Washington State. In addition, as many state budget problems are far from solved, speakers cover a number of significant legislative proposals that are important to taxpayers but remain outstanding.

• Internal Revenue Service (IRS) Trends and Initiatives
• Competent Authority and Advanced Pricing Agreement Developments
• State and Local Tax Transfer Pricing and other Local Tax Dispute Trends
• An Expanding Compliance Assurance Process (CAP)
• IRS Makes Initial Use of Schedule UTP Information
• Tax Interests and Computation – Notices for the Unwary

In addition, new rules that the Basel Committee on Banking Supervision began issuing last fall are altering the capital adequacy requirements of significant financial institutions. 

To help your business understand the potential ramifications of these significant developments, this TaxWatch Webcast will:

• Provide an overview of the act and Basel III
• Examine the new capital adequacy rules established in the Act and by Basel III, including an examination of contingent convertible bonds
• Consider the tax aspects of the swaps "push-out" rule
• Address tax issues relating to "living wills" and the "Volcker" rule
• Discuss the potential impact of the new clearing, trading, and reporting rules on Section 1256
• Address tax implications of the new risk retention requirements in securitizations
• Highlight tax accounting methods issues arising from restructurings under the act

• Considerations for year-end Form 1099 filings
• IRS Information Reporting Program Advisory Committee (IRPAC) update
• Expansion of Form 1099-MISC reporting
• IRS enforcement efforts on Form 1042 vendor payments
• Issuance of cost basis reporting regulations
• Latest developments on the FATCA reporting and withholding regime
• New merchant reporting on Form 1099-K

This important and timely event will feature three KPMG professionals from our Information Reporting Practice team and the Washington National Tax office. The program, which is designed for tax professionals involved with Forms 1099 and 1042-S compliance issues, will particularly focus on changes to this filing season, including reporting requirements new for 2011, and will also alert you to new IRS initiatives.

More specifically, the webcast will cover:

• Considerations for year-end Form 1099 filings
• IRS Information Reporting Program Advisory Committee (IRPAC) update
• IRS enforcement efforts on Form 1042 vendor payments
• Latest developments on the FATCA reporting and withholding regime
• New requirement to report organizational actions affecting basis of securities
• New merchant reporting on Form 1099-K
• Form 1099-MISC reporting

This Special Topics Webcast is hosted by professionals from KPMG's Washington National Tax office and includes an examination of:

• Issues surrounding drop shipments (i.e., sale by one party but delivery by another)
• Taxation of moveable property
• General leasing issues

This is the seventh and last in a series of Webcasts that are focused on educating tax professionals located outside the United States about the basics of the U.S. Indirect Tax (sales tax) system. 

KPMG LLP invites you to a one-hour audio Webcast that will provide a brief overview of the updated guidance in Chapters I - III and then an in-depth discussion on the Chapter IX business restructuring guidance.

This KPMG TaxWatch Webcast covers the background and facts surrounding CBP's recent valuation ruling, as well as recent developments at the World Customs Organization (WCO) that indicate growing acceptance of certain Organisation for Economic Co-operation and Development (OECD) methods to support customs related-party values.

Presented by senior-level professionals with extensive experience in customs and transfer pricing, the Webcast provides an overview of:

• CBP's most recent valuation ruling related to tax transfer pricing
• Recent WCO developments on the use of OECD methods
• Planning opportunities to coordinate tax and customs related-party pricing documentation studies

The United States is not alone in its ongoing focus. Tax authorities from virtually every major market, as well as several states, have instituted their own rules and intensified scrutiny of transfer pricing issues to claim their share of tax revenues. The result is increased transfer pricing disputes.

KPMG LLP invites you to a one-hour audio webcast on recent developments in transfer pricing controversy and the changing landscape for dispute resolution. Professionals from KPMG's Global Transfer Pricing Services practice and Tax Dispute Resolution Services network will cover:

• Recent transfer pricing cases and the IRS' transfer pricing leadership - what they may mean for future disputes
• Exam and Appeals developments - changes in the IRS' management of issues and resources, including with respect to Tiered Issues and International Issue Specialists
• Competent Authority and Advanced Pricing Agreement developments - relationship and impact of shift in resources
• Arbitration progress - Canada, Japan, and Switzerland
• State developments - examiners working on contingency, and views of 26 USC 482

"Cost sharing regulations", first proposed in 2005, were issued as temporary and proposed regulations in late 2008 (published January 2009). The final regulations reflect taxpayer comments and present important considerations for tax planning for intercompany transfers of intangible property (IP).

KPMG LLP invites you to a one-hour audio webcast on tax planning for transferring IP. Senior-level KPMG Washington National Tax professionals with experience in transfer pricing will examine the final cost sharing regulations and discuss general tax planning considerations for IP transfers.

Following a brief of the cost sharing regulations, speakers will cover:

• Changes to the final cost sharing regulations that companies with cost sharing arrangements should be aware of
• Methods to value platform contribution transaction (PCT) payments
• Determination of reasonably anticipated benefits
• Factors to consider in evaluating whether to use cost sharing or other methods to transfer and share in the ongoing development of intangibles
• Documentation and other compliance issues
• Alternatives to cost sharing, including arm’s-length joint development and IP partnerships

Speakers on this webcast include Charles Cope, Principal, Washington National Tax (WNT) - International Corporate Services; Clark Chandler, PhD, Principal, WNT - Economic & Valuation Services; and Tom Zollo, Principal, WNT - International Corporate Services.

• State Farm decision on loss reserves
• Notice 2011-2 Guidance on section 162(m)(6)
• Joint FASB/IASB project on accounting for insurance contracts
• Developments on life insurance reserves
• SSAP 10R Update
• Cell companies

If you answered yes to one or both of these questions, this TaxWatch webcast will be of interest to you. KPMG tax professionals are joined by representatives of two companies who share their experiences with unclaimed property audits, leading practices for audit defense, and what to expect during the audit life cycle. 

Additionally, the second part of the webcast features a discussion about a recent unclaimed property audit survey that was conducted by The Conference Board with the assistance of KPMG and the law firm McKenna Long & Aldridge.  Professionals from these organizations discuss the survey results and how you can use them to consider ways to more effectively prepare for managing the audit process at your company.

On this TaxWatch Webcast, partners and professionals from KPMG's Department of Professional Practice and State and Local Tax practices address some of the financial statement and unclaimed property risks associated with non-compliance with the states' unclaimed property reporting requirements and some ideas on how to manage total cash payout, including:

• Strategic compliance
• Risk management and controls
• Financial statement impact
• Federal Credit Card Act of 2009 and Stored Value Card Issuers
• States' reaction to the Federal Credit Card Act

• Identifying transactions that may be subject to U.S. withholding and reporting obligations
• Review of substantiation and documentation requirements for U.S. payors and withholding agents
• Withholding tax liabilities and penalties
• IRS examinations of U.S. payors and withholding agents
• Remediation and mitigation opportunities.

• Rules to prevent splitting foreign tax credits from the income to which they relate
• Denial of foreign tax credits upon certain covered asset acquisitions
• Limitation on the amount of foreign taxes deemed paid with respect to section 956 inclusions
• Revision of section 304 in the international context

This one-hour audio Webcast, led by senior professionals from KPMG's Washington National Tax office, reviews these and other provisions in the Act and their impact on multinational enterprises. The program focuses on:

• The latest insights on the interpretations and open issues with the new laws
• Tax planning considerations for the remainder of the current tax year and after the laws become effective
• The current outlook on "extenders" legislation, especially the subpart F look-through rules and active financing exception.

Professionals from KPMG LLP's Financial Institutions and Products group within Washington National Tax as well as professionals from our U.S. and European VAT practices provide the discussion on potential implications of the adoption of a VAT and the experiences of insurers in Europe.