ARLINGTON, Va., March 15, 2012 /PRNewswire-USNewswire/ -- Recent scrutiny of the tax laws and the ways taxpayers have used financial products and derivatives to take advantage of those laws has put new pressure on companies to understand and properly implement financial products. Bloomberg BNA | CITE will host a live conference, Introduction to U.S. Taxation of Financial Products and Derivatives, April 2-3 in Chicago that will examine the basic economic and U.S. tax aspects of typical financial products and derivative instruments used in financial markets today.
"Financial products and derivatives have become the primary instruments in the global financial markets," notes Diane Pastore, Executive Director at Bloomberg BNA | CITE. "Corporations and financial institutions are using these products to hedge risks or lock-in certain financial or economic benefits."
This conference will provide corporate tax professionals with a detailed understanding of what these products are and the relevant tax and accounting issues, a critical component in ensuring that all parties to these transactions achieve the desired results. Attendees will dissect the basic instruments used in developing financial products, identifying their economics, understanding how they are taxed, and reviewing special rules for business hedges.
Common tax traps and controversies will be discussed, as will hot financial products and the recent legislation addressing them. Attendees will also examine the taxation of foreign currency gains and losses and the international financing and financial transactions of foreign persons.
Various sessions will address the taxation of debt instruments and the role of public trading in determining debt issue price, the principles of FAS #133 for derivatives and hedging instruments, and the new rules under FAS #161 for disclosure of derivative and hedging activities.
By attending the two-day conference, attendees will:
Understand the basic instruments used in developing financial products and the way the U.S. taxes these instruments
Learn the latest tax and accounting rules affecting the use of hedges
Find out the key issues involving COD, OID and imputed interest in determining the taxation of debt instruments
Update your knowledge of the U.S. tax aspects of current financial products, including repos, distressed debt and convertible instruments
Discover the U.S. tax rules for foreign currency swap and option transactions under Sec. 988
Learn the latest techniques for minimizing the results of an IRS audit of financial products or derivatives at your company
Ascertain how the codification of the economic substance rules will affect their company's IRS reporting and disclosure requirements
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