On Wednesday, October 17th from 4:00 PM to 5:50 PM in Vanderbilt Hall Room 214, please join us for a discussion with Zach Carter (Huffington Post) and Jia Lynn Yang (Washington Post), two reporters who cover tax stories. The panel will discuss what makes a great “tax story”, the sources of information for tax stories, why certain tax issues are often misreported in the press and, of course, tax issues in the upcoming Presidential election. Professor Erin Scharff will moderate the discussion.
On Monday, October 15th, from 12:30 PM to 1:30 PM in Vanderbilt Hall Room 210, Elena Romanova (JD ’02, LL.M. ’03), Director and Head of Consumer Banking Tax Advisory, at Citigroup, Inc. will lead a session on the in-house tax function at large companies. The objectives of this program are to (a) inform students who plan to work for corporate law firms and accounting firms about the duties and needs of the in-house tax director, “the client” and (b) describe the skills that students need to develop over time if they plan to transition to an in-house position in the future. This event is open to all students.
Elena V. Romanova is a Director and the Head of Consumer Banking Tax Advisory at Citigroup Inc. in New York. She was an associate at Cleary Gottlieb Steen & Hamilton LLP from 2003 to 2010 and served as a Tax Policy Fellow at the U.S. Treasury Department, Office of Tax Policy in the fall of 2002. In her work, she focuses on U.S. federal income tax aspects of financial products and corporate transactions and on cross-border tax planning.
Ms. Romanova received a J.D. degree, magna cum laude, from New York University School of Law in 2002 where she served as a student editor of the Tax Law Review, an undergraduate degree, summa cum laude, from the University of Houston in 1996, and a degree of Master of Professional Accountancy in Taxation from Indiana University in Bloomington in 1999. She also received an L.L.M. in Taxation from New York University School of Law in 2003.
During the week of August 27th, we will welcome all incoming Tax LL.M. students at the following tax orientation events:
- Tax Specialization Meeting (Monday, August 27th, 3:30 PM to 5:00 PM, Greenberg Lounge, 1st Floor of Vanderbilt Hall). This session will address degree requirements, course selection and the tax job market, among other topics. This session is mandatory for all full-time Tax LL.M. students.
- Tax Welcome Reception (Monday, August 27th, 5:00 PM to 6:00 PM, Greenberg Lounge, 1st Floor of Vanderbilt Hall). Shortly after the tax specialization meeting, we will welcome you with a wine and cheese reception. This will also be a great opportunity for you to meet your classmates. This event is open to all Tax LL.M. students.
- Tax Alumni Advising Breakfast (Tuesday, August 28th, 9:00 AM to 10:30 AM, Lipton Hall and the Faculty Club, D’Agostino Hall, 110 West 3rd Street). Recent alumni of the Graduate Tax Program will join us for a light breakfast to answer your questions and offer advice. The atmosphere will be casual, so feel free to stay for all or part of the event. This event is open to all Tax LL.M. students.
- Tax Faculty Lunch (Tuesday, August 28th, 12:00 PM to 1:30 PM, Lipton Hall and the Faculty Club, D’Agostino Hall, 110 West 3rd Street). At this lunch, you will have a chance to meet with the tax faculty. This event is open to full-time Tax LL.M. students only. During the academic year, you will be assigned to a faculty advisor. Many of our faculty advisors will be at the lunch. Foreign-educated students who are attending the preceding bar exam session may arrive late, as that session runs until 12:30 pm.
- Tax Research Workshop (Friday, August 31st, 2:00 PM to 3:00 PM, Vanderbilt Hall Room 210). At this workshop, Professor Joshua Blank will provide an overview of helpful tax research tools that you can use as students at NYU and during your careers as practicing tax lawyers. He will also provide general advice regarding class and exam preparation. This event is open to all Tax LL.M. students. Full-time Tax LL.M. students are strongly encouraged to attend.
On Wednesday, April 11th, from 6:30 PM to 9:00 PM in Vanderbilt Hall Room 204, the NYU Graduate Tax Program will host a special screening of a new documentary, “We’re Not Broke”, which premiered at the 2012 Sundance Film Festival.
According to the filmmakers, the documentary “tells the story of U.S. corporations dodging billions of dollars in income tax, and how seven fed-up Americans take their frustration to the streets…and vow to make the corporations pay their fair share.” We will screen the film and then engage in a debate and Q&A discussion, featuring the following panelists:
Learn more about the film (and watch the trailer) here .
Refreshments, including popcorn, will be served. We should have plenty of space, but we would like to get a sense of how much food to order. To RSVP, please enter your contact information here .
On Monday, April 2, from 12:30 PM to 1:30 PM in the Faculty Club, Jim Peaslee (LL.M. ’79) will be the fourth guest speaker of the Spring 2012 Graduate Tax Program Lunch Series.
Jim Peaslee is a Partner at Cleary Gottlieb. His practice focuses on tax matters. He is the co-author of Federal Income Taxation of Securitization Transactions (4th Edition, www.securitizationtax.com), as well as a number of articles on tax subjects. Best Lawyers selected Mr. Peaslee as its “2011 New York Tax Lawyer of the Year” and has consistently recognized him in The Best Lawyers in America. He is also distinguished as one of the best tax lawyers by Chambers Global, Chambers USA, The International Who’s Who of Business Lawyers, The Legal 500 and Euromoney Legal Media Group’s Best of the Best Guide. Mr. Peaslee is similarly included in the PLC Which Lawyer? Yearbook and the PLC Handbook: Tax on Corporate Transactions as a “highly recommended” tax lawyer. Mr. Peaslee was also recognized in International Tax Review’s “World Tax” rankings for his outstanding work in capital markets.
If you are a current NYU student and are interested in participating, please e-mail Kevin Agnese.
On Tuesday, April 3 from 12:30 PM to 1:50 PM in Vanderbilt Hall Room 210, the Graduate Tax Program will host an event titled “Offshore Accounts, Tax Amnesties and Tax Compliance.”
In recent years, the federal government has pursued an aggressive crack down on U.S. taxpayers who have hid income in offshore bank accounts. In a series of voluntary disclosure programs, the IRS has entered settlement agreements with thousands of U.S. taxpayers who have disclosed their accounts. In other cases, the federal government has successfully prosecuted individuals who have not disclosed this information to the IRS. This program will provide students with an overview of the offshore tax evasion dilemma and the government’s response and will also critique the use of tax amnesty programs as a way to increase voluntary compliance. Participants in this event will offer both theoretical and “on the ground” analysis.
Moderator, Professor Joshua Blank, NYU School of Law
- Presenter, Professor Leandra Lederman, Maurer School of Law, Indiana University-Bloomington
- Discussant, Diana Erbsen, Partner, DLA Piper
- Discussant, Robert Fink, Partner, Kotelanetz & Fink
- Discussant, Lee Sheppard, Contributing Editor, Tax Notes
Please feel free to bring your lunch to this event!
**UPDATE**: To view the panel, please click here .
On Thursday, March 29th from 6:30 PM to 8:30 PM in the Lester Pollack Colloquium Room, Furman Hall, 9th Floor (245 Sullivan Street), the Graduate Tax Program will host a special event: “Tax Movie Night!: First Encounters with the Income Tax.” **NOTE NEW ROOM***
During this event, we will screen three classic television episodes, spanning four decades, involving individuals’ first encounters with the U.S. income tax system. The episodes featured are from “The Bill Dana Show” (1963), “Green Acres” (1970) and “3rd Rock from the Sun” (2000). Professor Lawrence Zelenak from Duke Law School will join us as a special guest speaker. After we screen the episodes (about 75 minutes), Professor Zelenak will lead a Q&A discussion. Refreshments, including popcorn, will be served.
We should have plenty of space, but we would like to get a sense of how much food to order. To RSVP, please enter your contact information here.
On Monday, March 26, from 12:30 PM to 1:30 PM in the Snow Dining Room (4th Floor Vanderbilt), David Schnabel (LL.M. ’93) will be the third guest speaker of the Spring 2012 Graduate Tax Program Lunch Series.
David Schnabel is a tax partner at Debevoise & Plimpton LLP whose practice focuses on M&A transactions for private equity and corporate clients, as well as acquisition financing and private fund formation. He is also a member of the firm’s Management Committee. Mr. Schnabel is recognized as a leading corporate tax lawyer by Chambers USA (2010-2011), where he is noted for his “encyclopedic knowledge and thoughtful judgment.” He is also recommended by The Legal 500 US (2011), where he is noted as “one of the real experts in partnership tax – who can integrate technical tax answers with actionable and commercial solutions.” Mr. Schnabel is the Secretary of the Tax Section of the New York State Bar Association, former co-chair of the Investment Funds Committee, the Consolidated Returns Committee and the Partnership Committee, a member of the planning committee for the University of Chicago Law School Tax Conference and a fellow of the American College of Tax Counsel. He is a frequent speaker on the tax aspects of M&A and private equity, including at the NYSBA Annual Meeting, the Practising Law Institute, the ABA Section of Taxation Meeting and the NYU Tax Institute. He writes frequently on tax issues and is the author of the New York State Bar Association’s Report on the Cancellation of Indebtedness and AHYDO Rules of Sections 108(i) and 163(e)(5)(F) (2009), Report on Proposed Treasury Regulation Section 1.1502-13(g) Relating to Intercompany Obligations (2008), Report Responding to Notice 2006-14 Relating to the Treatment of Partnership Distributions under Section 751(b) (2006), Report on the Proposed Regulations and Revenue Procedure Relating to Partnership Equity Transferred in Connection with the Performance of Services (2005) and Report on Disguised Sales of Partnership Interests Responding to Notice 2001-64 (2003), as well as Great Expectations–The Basic Problem with Distressed Debt (University of Chicago Tax Institute), Structuring Preferred Stock Investments by Private Equity Funds (Practising Law Institute) and Revisionist History: Retroactive Federal Tax Planning (The Tax Lawyer 2007). He is also a contributing author of The Private Equity Primer: The Best of the Debevoise & Plimpton Private Equity Report and the Debevoise & Plimpton Private Equity Report.
If you are a current NYU student and are interested in participating, please e-mail Kevin Agnese.
Taxation and Multi-period Global Cap and Trade by Mitchell Kane, Professor of Law, NYU School of Law, has been published in the New York University Environmental Law Journal (19 NYU Env.L.J. 87 (2011)). A brief abstract is below:
This paper analyzes the ways in which taxation can distort prices in greenhouse gas emissions permit markets that encompass multiple periods and multiple jurisdictions. The paper first distinguishes between two broad ways in which the tax system intersects with permit markets. The first relates to the optimal provision of public goods and encompasses the set of questions typically dealt with under the analysis of a potential “double dividend” from environmental taxes. The second relates to abatement efficiency and involves the removal of tax induced distortions to otherwise efficient incentives for firms to abate emissions at least cost. The paper then describes two ways in which a tax system can seek to address abatement efficiency. The tax system can attempt to equalize tax treatment of actual abatement across firms and the tax treatment of permits across firms (inter-firm neutrality). Or, the system can attempt to equalize the tax treatment of actual abatement and permits within each firm (intra-firm neutrality). The paper describes the requisite conditions for these two neutrality approaches and the predicted effects on permit prices. It also demonstrates that in a multi-period regime one can expect to observe both premia to banking permits (the typical lock-in problem described in the literature) as well as penalties to banking permits. Moreover, only the norm of inter-firm neutrality can adequately address both banking premia and banking penalties. The paper also shows that the preferred approach to neutrality is likely to evolve with the geographic expansion of the market. Inter-firm neutrality is the preferred approach in a national market because of its superior ability to deal with inter-temporal distortions; intra-firm neutrality is the preferred approach in the multi-jurisdictional context because of the relative ease of coordinating tax treatment within firms as opposed to across firms. Finally, the paper applies the relevant neutrality norms to two crucial tax policy questions that arise under permit markets: the appropriate treatment of permits allocated gratis and the appropriate sourcing of abatement and permit costs.
On Monday, March 5, from 12:30 PM to 1:30 PM in the Snow Dining Room, Jodi Schwartz (LL.M. ’87) was the second guest speaker of the Spring 2012 Graduate Tax Program Lunch Series.
Jodi J. Schwartz is a Partner at Wachtell, Lipton, Rosen & Katz. Her practice focuses on the tax aspects of corporate transactions, including mergers and acquisitions, joint ventures, spin-offs and financial instruments. Ms. Schwartz has been the principal tax lawyer on numerous domestic and cross border transactions in a wide range of industries. She was elected partner in 1991.
Ms. Schwartz received her B.S. in Economics (magna cum laude) from the University of Pennsylvania in 1981, her M.B.A. from the University of Pennsylvania (Wharton School) in 1984, her J.D. (magna cum laude) from the University of Pennsylvania Law School in 1984, and her LL.M in Taxation from the New York University Law School in 1987.
Ms. Schwartz is recognized as one of the world’s leading lawyers in the field of taxation, including being selected by Chambers Global Guide to the World’s Leading Lawyers, Chambers USA Guide to America’s Leading Lawyers for Business, Who’s Who Legal- The International Who’s Who of Business Lawyers and by Euromoney Institutional Investor’s Guide to the World’s Leading Tax Advisors. In addition, she is Chair of the Tax Section of the New York State Bar Association.
Ms. Schwartz serves on the board of the American Jewish Joint Distribution Committee, the Foundation for Jewish Camp and the Jewish Community Project of Lower Manhattan; and, previously, served on the Board of Overseers of the University of Pennsylvania Law School. Ms. Schwartz lives in Manhattan with her husband, son and daughter.
On THURS., MARCH 8th at 1:00 PM in FURMAN 216, the Graduate Tax Program will host a meeting for all J.D. students interested in learning about the J.D./LL.M in Taxation program and related scholarship opportunities.
At the meeting, we will discuss the following:
• J.D./LL.M. IN TAXATION: Current NYU J.D. students can receive up to 12 credits of LL.M. advanced standing for certain tax courses taken at NYU School of Law and may qualify to obtain a Tax LL.M. with only one additional full-time semester of post-J.D. study. NOTE: For 3Ls who may be interested in this program, THE DEADLINE TO APPLY IS APRIL 2, 2012.
• TAX POLICY FELLOWSHIP: A small number of 3L J.D./LL.M. in Taxation candidates will be selected to spend up to six months as interns at the U.S. Department of the Treasury or the Staff of the Joint Committee on Taxation during Summer 2012 and Fall 2012. A stipend is available, absent outside funding. The fellows will complete the LL.M. in Taxation during the Spring 2013 semester and may receive a scholarship for their semester as LL.M. students.
• TAX LAW REVIEW SCHOLARSHIP: The Tax Law Review (TLR), the premier law school journal for tax policy scholarship, often awards a one-half tuition, merit-based scholarship to a J.D./LL.M. student. The winners of the TLR Scholarships serve as student editors, who do cite checking, proofreading, etc. This involves a commitment of approximately 15 hours a week. Students who are eligible to apply are current 2Ls interested in the J.D./LL.M. in Taxation program. A student must have completed Income Taxation and priority will be given to a student who has taken an additional tax course(s).
If you are unable to attend, please feel free to direct any questions to John Stephens, Director of the Graduate Tax Program, at email@example.com or Professor Joshua Blank, Faculty Director of the Graduate Tax Program, at joshua.blank@nyu.
Alumni Tax Luncheon in Los Angeles, CA
Wednesday, February 8 at 12:00 p.m.
Beverly Hills Hotel, Sunset Ballroom,
9641 Sunset Blvd, Beverly Hills, CA
The Office of Alumni Relations invites you to a luncheon for tax alumni in Los Angeles on Wednesday, February 8, 2012 hosted by Charles P. Rettig (LL.M. ’82), principal at Hochman, Salkin, Rettig, Toscher & Perez, P.C. The event features Professor Joshua Blank who will present a paper titled “Corporate Tax Abuse in the Supreme Court” (co-authored with Professor Nancy Staudt of USC School of Law). Click here to register!
On Monday, November 28th, from 12:30 PM to 1:50 PM in Furman Hall Room 216, the Graduate Tax Program will host a discussion titled Accounting for Tax Uncertainty. A brief description is below:
Knowledge of how tax results will be presented in the financial accounts of a business enterprise is a valuable attribute of a tax lawyer. US GAAP contains rules specific to the financial accounting for tax consequences. This lecture will address one of these rules: the financial accounting for uncertain tax positions taken on a return.
David Spencer, ‘99, LL.M. ’00, a tax lawyer at BNP Paribas and Adjunct Professor of Law at NYU Law, will conduct the discussion. Mr. Spencer has worked for the last ten years in both tax and banking, first in the tax department of Sullivan & Cromwell and then as a business-line investment banker with Bank of America, HSBC, Fortis and currently with BNP Paribas. His transactional work has been wide ranging, and has consistently involved the interplay of taxation and tax-intensive transactions with other areas such as accounting, finance, legal, bank regulatory, derivatives, currency, compliance, risk management and operations.
Please RSVP for this event by clicking here.
UPDATE: Video link available here.
On Thursday, November 3rd, the Graduate Tax Program will host a reception for the American Association of Attorney-CPAs (AAA-CPA). The AAA-CPA is the only association of professionals who are both attorneys and certified public accountants. This organization has close ties to the Law School, as many of their members are alumni of our program. It will be holding its annual meeting in New York this year and its members would love to meet the students and faculty of the Graduate Tax Program. This should be a great opportunity for you to meet practicing attorneys from all over the country in an informal environment.
The AAA-CPA reception will take place in the Faculty Library of Vanderbilt Hall (3rd floor) on Thursday, November 3rd from 6:30 PM to 7:30 PM. Wine and cheese and light refreshments will be served. If you would like to participate in this event, please RSVP at the following link as soon as possible: https://its.law.nyu.edu/rsvp/taxevent/20111103/ .
Prof. Reuven Avi-Yonah
On Tuesday, October 4th, from 12:30 PM to 1:50 PM, in Greenberg Lounge, Vanderbilt Hall (40 Washington Square South) the Graduate Tax Program will host a panel discussion titled “The Future of Corporate Tax Reform.”
Corporate tax integration, the elimination of a two-tiered system of business taxation, is a perennial topic of discussion among tax scholars and practitioners alike. At this event, Professor Reuven Avi-Yonah, University of Michigan Law School, will present a new proposal regarding the tax treatment of corporate dividends. Professor Dan Shaviro, NYU School of Law, and Deborah Paul, Wachtell, Lipton, Rosen & Katz, will provide commentary. Professor Deborah Schenk, NYU School of Law, will moderate the discussion.
Please RSVP for the event by clicking here .
Light refreshments will be served. Please feel free to bring your lunch.
Dr. Jeffrey Owens
On Tues., September 27th at 6:00 PM, Dr. Jeffrey Owens, Director, Centre for Tax Policy and Administration, OECD, will deliver the 16th Annual David R. Tillinghast Lecture on International Taxation.
Dr. Owens’s lecture is titled “”Tax Competition: To Welcome or Not?” Dr. Owens will deliver the lecture in Greenberg Lounge (1st floor of Vanderbilt Hall). This year’s lecture will be dedicated to the memory of Professor James S. Eustice, who passed away earlier this year.
The Tillinghast lectures are presented through the cooperation of NYU School of Law and the New York law firm Baker & McKenzie to honor David R. Tillinghast , a partner in the firm and a leading international tax lawyer. To register to attend the event, please click here .
Update: A video of the event is available here .
The Hon. David Gustafson
On Monday, Sept. 12, 2011, from 6:30 PM to 8:30 PM, in Lipton Hall, D’Agostino Hall (110 W. 3rd Street), the Federal Bar Association Section on Taxation, in partnership with the Graduate Tax Program will host a discussion with Hon. David Gustafson of the U.S. Tax Court. The talk will be followed by a reception featuring wine and cheese. The program will be introduced by Professor Blank and will be moderated by Brian Power of Mayer Brown LLP and Timothy Mulvey of White & Case LLP.
Please RSVP by September 9, 2011 to Jenny Bosak at firstname.lastname@example.org or (571) 481-9118.
During the week of August 29th, we will welcome all incoming Tax LL.M. students at the following tax orientation events (NOTE: Tax orientation events originally scheduled to take place on Monday, August 29th have been rescheduled to Tuesday, August 30th as a result of the suspension of New York City mass transit due to Hurricane Irene):
- Tax Alumni Advising Breakfast (Tuesday, August 30th, 9:00 AM to 11:00 AM, Lipton Hall and the Faculty Club, D’Agostino Hall, 110 West 3rd Street). Recent alumni of the Graduate Tax Program will join us for a light breakfast to answer your questions and offer advice. The atmosphere will be casual, so feel free to stay for all or part of the event. This event is open to all Tax LL.M. students.
- Tax Faculty Advisor Lunch (Tuesday, August 30th, 12:00 PM to 2:00 PM, Lipton Hall and the Faculty Club, D’Agostino Hall, 110 West 3rd Street). All full-time Tax LL.M. students have been assigned a faculty advisor. At this lunch, you will have a chance to meet the tax faculty. This event is open to full-time Tax LL.M. students only.
- Tax Specialization Meeting (Tuesday, August 30th, 3:40 PM to 5:00 PM, Greenberg Lounge, 1st Floor of Vanderbilt Hall). This session will address degree requirements, course selection and the tax job market, among other topics. This session is mandatory for all full-time Tax LL.M. students.
- Tax Welcome Reception (Tuesday, August 30th, 5:00 PM to 6:00 PM, Greenberg Lounge, 1st Floor of Vanderbilt Hall). Shortly after the tax specialization meeting, we will welcome you with a wine and cheese reception. This will also be a great opportunity for you to meet your classmates. This event is open to all Tax LL.M. students.
- Tax Research Workshop (Thursday, September 1, 12:30PM – 1:30 PM, Furman Hall Room 216). At this workshop, Professor Joshua Blank will provide an overview of helpful tax research tools that you can use as students at NYU and during your careers as practicing tax lawyers. He will also provide general advice regarding class and exam preparation. This event is open to all Tax LL.M. students. Full-time Tax LL.M. students are strongly encouraged to attend.
Congratulations to Ezra Prager, LL.M. ’11, who has been awarded the 2011 David H. Moses Prize by the Law School. The Moses Prize is awarded annually to the member of the LL.M. class (tax and non-tax) with the highest academic average. In addition, Prager has won the 2011 Harry J. Rudick Memorial Award for distinction in the Graduate Tax Program.