Tax

FastTrack

New Tax Reporting Due Diligence Rules for Partnerships, Cryptocurrency, and REITs

Credits Available
Credit Status Total
Alaska CLE Approved 1 Total
Arizona CLE Approved 1 Total
California CLE Approved 1 Total
Colorado CLE Approved 1 Total
Connecticut CLE Approved 1 Total
Delaware CLE Approved 1 Total
Hawaii CLE Approved 1 Total
Iowa CLE Upon Request 1 Total
Idaho CLE Upon Request 1 Total
Illinois CLE Approved 1 Total
Louisiana CLE Upon Request 1 Total
Maine CLE Approved 1 Total
Minnesota CLE Approved 1 Total
Missouri CLE Approved 1.2 Total
Northern Mariana Islands CLE Approved 1 Total
Montana CLE Approved 1 Total
North Dakota CLE Approved 1 Total
Nebraska CLE Approved 1 Total
New Hampshire CLE Approved 1 Total
New Mexico CLE Approved 1 Total
Nevada CLE Approved 1 Total
New York CLE Approved 1 Total
Oklahoma CLE Approved 1 Total
Oregon CLE Approved 1 Total
Pennsylvania CLE Approved 1 Total
Vermont CLE Approved 1 Total
Washington CLE Approved 1 Total
West Virginia CLE Approved 1.2 Total
Wyoming CLE Upon Request 1 Total
OnDemand
58 minutes
Mark Leeds
Vadim Novik
With Mark H. Leeds from Pillsbury Winthrop Shaw Pittman LLP + 1 other
Recorded June 24, 2024.
Product ID 99086

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Overview

Learn What's New With Form W-9, Form 1099-DA, and REIT Reporting

The days when U.S. tax reporting was simply based on the nature of the payee seem to be slipping into the past. The U.S. Internal Revenue Service has recently released a new Form W-9 that requires upper tier partnerships to provide additional information to lower tier partnerships. New final regulations for establishing that a real estate investment trust is a "domestically-controlled REIT" now require US corporate shareholders to look-through to their shareholders. Finally, new reporting rules for cryptocurrencies take an expansive view of when a person is a broker required to file information reports. Our experienced tax attorney faculty lead a one-hour presentation on navigating these new tax reporting rules. Register today!

  • Determine which entities and transactions are subject to the new rules.
  • Clarify when and how to file.
  • Discuss the broader context of growing tax enforcement that informs these changes.

Abbreviated Agenda

  1. New IRS Form W-9
  2. New Form 1099-DA (Cryptocurrency Tax Reporting)
  3. New Look-Through Rule for Determining Whether a REIT is Domestically Controlled

Related Topics

Product ID 99086

Credit Details

Credits Available
Credit Status Total
Alaska CLE Approved 1 Total
Arizona CLE Approved 1 Total
California CLE Approved 1 Total
Colorado CLE Approved 1 Total
Connecticut CLE Approved 1 Total
Delaware CLE Approved 1 Total
Hawaii CLE Approved 1 Total
Iowa CLE Upon Request 1 Total
Idaho CLE Upon Request 1 Total
Illinois CLE Approved 1 Total
Louisiana CLE Upon Request 1 Total
Maine CLE Approved 1 Total
Minnesota CLE Approved 1 Total
Missouri CLE Approved 1.2 Total
Northern Mariana Islands CLE Approved 1 Total
Montana CLE Approved 1 Total
North Dakota CLE Approved 1 Total
Nebraska CLE Approved 1 Total
New Hampshire CLE Approved 1 Total
New Mexico CLE Approved 1 Total
Nevada CLE Approved 1 Total
New York CLE Approved 1 Total
Oklahoma CLE Approved 1 Total
Oregon CLE Approved 1 Total
Pennsylvania CLE Approved 1 Total
Vermont CLE Approved 1 Total
Washington CLE Approved 1 Total
West Virginia CLE Approved 1.2 Total
Wyoming CLE Upon Request 1 Total
Select Jurisdiction
CLE

Agenda

All times are shown in

  1. New Tax Reporting Due Diligence Rules for Partnerships, Cryptocurrency, and REITs

    1. New IRS Form W-9
    2. New Form 1099-DA (Cryptocurrency Tax Reporting)
    3. New Look-Through Rule for Determining Whether a REIT is Domestically Controlled

Who Should Attend

This legal update is designed for attorneys. Accountants, enrolled agents, tax professionals, fiduciaries, directors, and paralegals will also benefit.

Speakers

Mark H Leeds
Mark H.
Leeds
Pillsbury Winthrop Shaw Pittman LLP
Vadim Novik
Vadim
Novik
Fried, Frank, Shriver & Jacobson LLP
Speaker bio
Mark H Leeds

Mark H. Leeds

Pillsbury Winthrop Shaw Pittman LLP
Mark Leeds

is a tax transactions and planning partner in Mayer Brown's New York office. His practice is focused on the tax consequences of a variety of capital markets, hedge fund, banking and insurance products and strategies, including over-the-counter derivative transactions, swaps, tax-exempt derivatives and strategies for efficient utilization of tax attributes, such as net operating losses. Mr. Leeds regularly works on innovative insurance products and structures. He has extensive experience in working with businesses and individuals seeking to set up operations and relocating to Puerto Rico. Mr. Leeds advises on the tax aspects of capital markets, structured finance, derivatives, financial products and insurance transactions and has extensive experience working with both buyers and sellers to develop and structure complex derivatives, including litigation finance transactions. A significant portion of his work involves the taxation of financial products and trading strategies engaged in by banks and other financial market participants. He also advises on hedge fund and other investment vehicle formation matters. Mr. Leeds does extensive work with digital assets, including cryptocurrencies, non-fungible tokens and blockchain transactions. He is a frequent writer and speaker on tax topics affecting capital markets and digital assets. Mr. Leeds earned his B.A. degree from State University of New York at Binghamton, his J.D. degree from Boston University School of Law and his LL.M. in taxation from New York University School of Law.

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Speaker bio
Vadim Novik

Vadim Novik

Fried, Frank, Shriver & Jacobson LLP
Vadim Novik

is the head of U.S. Tax Advisory for the Corporate and Investment Bank of JPMorgan Chase & Co. He is a tax generalist, but currently his practice is concentrated on capital markets and derivatives transactions; financial products, services, and technologies; planning considerations related to asset management, securitization and commodities; and the occasional acquisition, divestiture or joint venture. Mr. Novik advises businesses and other stakeholders on a diverse array of technical tax issues, including the taxation of financial products; corporate, partnership and international taxation; and U.S. federal tax reporting and withholding. Before joining JPMorgan Chase & Co., Mr. Novik was an executive director and tax counsel at Morgan Stanley, and an associate at the great firm of Debevoise & Plimpton LLP. He earned his J.D. degree, magna cum laude, from the New York University School of Law, where he was notes editor of the Law Review and received the Harry J. Rudick Memorial Award for Excellence in Taxation. He received an undergraduate degree in marketing, summa cum laude, from Rutgers University.

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