Chief Financial Officer — Taxation & Compliance

Description: Focus on navigating complex and ever-changing tax regulations, ensuring compliance across various jurisdictions. Includes understanding tax audits, appeals processes, and staying informed about legislative updates. - Specific Resources/Activities: Analyze recent tax legislation changes (e.g., Inflation Reduction Act, recent tax court cases); Review IRS audit guidelines and strategies; Practice responding to IRS inquiries and notices; Simulate a mock tax audit; Study tax court decisions and rulings; Familiarize yourself with penalties for non-compliance; Research and understand common compliance challenges in different industries. - Expected Outcomes: Deep understanding of tax compliance requirements in multiple jurisdictions; Improved skills in managing tax audits and appeals; Ability to effectively communicate with tax authorities; Development of strategies for mitigating compliance risks.

Description: This day focuses on the intricacies of State and Local Taxes, including sales and use tax, property tax, and state income tax. Emphasis is placed on understanding nexus, apportionment, and strategies for managing SALT liabilities. - Specific Resources/Activities: Review of state tax codes; Analyze state and local tax regulations for businesses; Case studies on nexus determinations; Practice apportionment calculations; Understand the impact of remote work on SALT compliance; Research state-specific tax credits and incentives; Explore tax planning opportunities for multi-state businesses. - Expected Outcomes: Proficient in the principles of SALT; Ability to navigate complex state tax regulations; Ability to optimize SALT strategies; Expertise in understanding nexus rules and apportionment methodologies.

Description: Deep dive into the tax considerations related to significant corporate transactions. Includes understanding due diligence procedures, structuring transactions to optimize tax efficiency, and post-transaction integration. - Specific Resources/Activities: Review relevant sections of the Internal Revenue Code (e.g., Sections 338, 351, 368); Analyze case studies of M&A transactions; Study tax due diligence checklists; Understand the impact of Section 382 on net operating losses (NOLs); Practice structuring tax-efficient transactions; Familiarize yourself with tax consequences of reorganizations. - Expected Outcomes: Comprehension of the tax implications of M&A, and restructurings; Ability to conduct thorough tax due diligence; Skill in structuring tax-efficient transactions; Knowledge of post-transaction integration challenges.

Description: Focus on the specific tax issues arising from international business activities, including transfer pricing, foreign tax credits, controlled foreign corporations (CFCs), and the impact of the Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS). - Specific Resources/Activities: Detailed review of Subpart F income regulations; Practice calculating foreign tax credits; Analyze cross-border transactions involving different tax regimes; Simulate transfer pricing scenarios; Study case law related to international tax disputes; Review the impact of FATCA and CRS on financial reporting. - Expected Outcomes: Deep understanding of international tax principles; Expertise in handling cross-border transactions; Proficiency in transfer pricing methodologies; Knowledge of FATCA and CRS requirements.

Description: Focus on the practical application of tax accounting principles under both US GAAP and IFRS. Includes the reconciliation of financial statement results to tax returns, accounting for deferred taxes, and understanding the impact of tax law changes on financial reporting. - Specific Resources/Activities: Review ASC 740 (Accounting for Income Taxes) under US GAAP and IAS 12 (Income Taxes) under IFRS; Practice accounting for deferred tax assets and liabilities; Analyze the impact of tax rate changes on financial statements; Review SEC reporting requirements related to income taxes; Develop reconciliation of financial statement results to tax return; Examine the use of tax reserves and provisions. - Expected Outcomes: Proficient in tax accounting under US GAAP and IFRS; Ability to prepare and analyze deferred tax calculations; Comprehension of the link between tax reporting and financial statements; Improved skill in interpreting financial statements.

Description: This day focuses on the ethical considerations in tax practice, the importance of risk management, and exploring trends in tax law and technology. Includes discussion on tax fraud, tax avoidance versus evasion, and the impact of AI and blockchain on taxation. - Specific Resources/Activities: Review professional ethics guidelines (e.g., AICPA Code of Professional Conduct); Analyze case studies of tax fraud and ethical violations; Study risk assessment techniques in tax compliance; Research the use of AI in tax audits; Explore the future of taxation (e.g., digital taxation, blockchain and taxation); Participate in a discussion/debate on ethical dilemmas in taxation. - Expected Outcomes: Heightened awareness of ethical responsibilities; Skill in identifying and managing tax risks; Understanding of the future trends in taxation; Ability to apply ethical principles to real-world tax scenarios.