Tax Examinations - What is going on in the Industry

Date: Friday, November 11, 2022
Time: 12:00 PM ET / 11:00 AM CT / 10:00 AM MT / 09:00 AM PT [Prevailing Time]
Presenters: Kristin Sandy, CPA MBT, Senior Tax Manager, Land O' Lakes, Inc., Jody Underwood, CPA, Tax Director, GROWMARK, Inc., Nicholas Falk, CPA, Business Tax Manager, RSM US, LLP, Kevan D. Acord, CPA, Founder & Attorney, BridgeBuilder Tax + Legal Services
Moderator: Wayne Sine, CPA, Director of Education, National Society of Accountants for Cooperatives
Learning Objectives:
• Identify the trends of audit controversy of cooperatives
• Understand examination issues of IRS and various state/local tax authorities
• Discover strategies for dealing with examiners
Field of Study: Taxes
Program Level: Basic
CPE Credit: 1.5 Credit Hour
Delivery Method: Group Internet-based
Prerequisite(s): No advanced preparation or prerequisites are required for this course.
  Order Recording

Course Description

Come join a discussion on recent tax controversy and audit activity within the cooperative industry. We will have tax employees from cooperatives and services providers share their insight on experiences with the IRS and various state/local tax authorities. Learn what activity is out there and how you can plan for the inevitable call!

Presenter and Moderator Bios

Presenter: Kristin Sandy, CPA MBT, Senior Tax Manager, Land O' Lakes, Inc.

Kristin Sandy, MBT, CPA is a Senior Tax Manager at Land O’ Lakes, Inc, a member-owned agricultural cooperative headquartered in St Paul, Minnesota. At Land O’ Lakes, Kristin focuses on Federal Compliance, Provision, and the Research and Development Credit. Kristin is an active Certified Public Accountant, holds a Bachelor’s degree from the University of Wisconsin-Stout, and obtained a Master’s degree in Business Taxation from the University of Minnesota. She is a member of the tax committee of the National Society of Accountants for Cooperatives (NSAC).

Presenter: Jody Underwood, CPA, Tax Director, GROWMARK, Inc.

Jody became the Tax Director at GROWMARK in November 2019. He has 22 years of experience at GROWMARK in a variety of Accounting, Finance and Auditing roles. He had 10 years of auditing, budgeting, and accounting experience prior to joining GROWMARK. Jody is a graduate of Illinois State University with a bachelor’s degree in Accounting and Finance. He is a Certified Public Accountant.

Presenter: Nicholas Falk, CPA, Business Tax Manager, RSM US, LLP

Nick Falk, CPA is a tax manager with RSM US, LLP. He provides tax compliance and consultation services to a variety of public sector entities. He focuses primarily on food and beverage and construction clients. He is a subject matter expert in subchapter T and section 521 cooperatives. He has practiced in public accounting for more than 18 years. Nick delivers advice and consultation regarding complex taxation matters, manages engagement teams, and prepares tax research and tax positions.

Presenter: Kevan D. Acord, CPA, Founder & Attorney, BridgeBuilder Tax + Legal Services

Kevan Acord has over 40 years of experience in the tax departments of international public accounting firms. Kevan specializes in providing tax compliance and consulting services to both public and closely held businesses. Kevan has also handled the tax structuring on a number of medium-sized merger and acquisition engagements ranging in size, from ten to sixty million dollars. He also has significant experience handling tax controversy issues with the Internal Revenue Service. Kevan is a licensed attorney and certified public accountant. He is also a member of the American Institute of Certified Public Accountants, the Kansas Society of Certified Public Accountants, the National Society of Accountants for Cooperative (also a member of the National Tax Committee), and the Kansas Bar Association.

Moderator: Wayne Sine, CPA, Director of Education, National Society of Accountants for Cooperatives

Wayne Sine is an experienced and highly knowledgeable professional in the field of Tax. Wayne recently retired as Tax Director from his company, Southern States Cooperative. He has extensive experience working with agricultural cooperatives and has been a long-time member of the NSAC. He is highly active in the NSAC, serving as both past Chapter President of the Atlantic Chapter, and past Chair of the Tax Committee. He is currently serving as the NSAC Director of Education.. Wayne's career is marked by several accomplishments, and he has always been involved in many organizations, spreading his knowledge. Wayne is a member of the Legal, Tax, and Accounting (LTA) Committee for the National Council of Farmer Cooperatives. He is also Past Chair of the Tax Committee of the Virginia Chamber of Commerce and the Virginia Manufacturers Association. Wayne also served on the Tax Policy Committee at the Virginia Society of CPAs and served as past Region Vice President for the Tax Executives Institute.

Cost
Free for NSAC Members / $56.00 for Non-Members

Delivery System

• All programs are delivered using the Zoom platform.
• Confirmations will include log-in instructions.
• Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
• All registrants will receive a link to the CLN’s recording by email within 48 business hours of event’s conclusion.
• There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.

Registration

All registration is done on-line and each guest must provide their name and email address to participate. All NSAC members may register for free. Non-members may register for a nominal fee.

Refund Policy

NSAC will not issue refunds for CLNs. If a registrant is unable to participate in the CLN and provides notification to info@nsacoop.org 48 hours prior to the session, a credit will be provided for a future CLN. Alert the NSAC staff member monitoring the CLN if technical difficulties are encountered and technical support will be provided to eliminate problems with future CLNs.

Additional Information

Live participation is required for CPE credit and polling questions must be answered to document your active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the CLN recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits. Those eligible for credits will receive their certificate by email with 7 business days.

For more information regarding NSAC CLNs or administrative policies such as complaint and refund, contact the NSAC Headquarters, 7946 Clyo Road, Suite A, Centerville, OH 45459, 937-222-6707, or info@nsacoop.org.