Carol P. Tello, Partner, Sutherland Asbill & Brennan, LLP to Speak at KC's 2011 FATCA LIVE Webcast

July 4, 2011 - PRLog -- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Carol P. Tello, Partner, Sutherland Asbill & Brennan, LLP will speak at the Knowledge Congress’ webcast entitled: “2011 Foreign Account Tax Compliance Act LIVE Webcast”. This event is scheduled for July 22, 2011 from 12:00 PM to 2:00 PM ET. (For more details, please visit: http://knowledgecongress.org/event_2011_Tax_Compliance.html)

Event Synopsis:

On April 8, 2011, the Internal Revenue Service (IRS) issued Notice 2011-34, which provides supplemental guidance on the preparation, documentation and withholding requirements under the Foreign Account Tax Compliance Act (FATCA), provisions of the Hiring Incentives to Restore Employment (HIRE) Act.

Under this new guidance, all foreign financial institutions (‘FFIs') will be required to enter special agreements with the Internal Revenue Services (IRS). These agreements include a new 30 percent withholding tax on certain foreign entities that refuse disclosure of the identities of these U.S. persons.

Some of the key areas addressed in this webcast:

-- Important guidelines identifying U.S. accounts among their pre-existing individual accounts
-- Initial guidance on passthru payments
-- Obligation of FFIs to report with respect to U.S. accounts
-- Rules for the treatment of qualified intermediaries under section 1471
-- Application of section 1471 to expanded affiliated groups of FFIs
-- Compliance date of FFI Agreements
-- Executive management oversight with compliance reporting obligations to board of directors and monitoring bodies
-- Due diligence and compliance requirements for both FFIs
-- And other up to the minute compliance guidelines update

These changes will affect foreign banks and other financial institutions in any industry with an international operation. The question now is what’s a FFIs’ to do?

The Knowledge Group is assembling a panel of distinguished professionals and key regulators to help financial institutions, investment entities, and many other organizations understand the new regulations. The speakers will share their expert opinions in a two-hour LIVE Webcast.

About Carol P. Tello

Carol Tello is a member of Sutherland’s Tax Practice Group and focuses primarily on international tax matters. Her practice includes a broad range of cross-border tax planning and Internal Revenue Service (IRS) controversy matters for both business entities and individuals. She is the author of the BNA TMP 915-3 " Withholding and Reporting Provisions Under Chapters 3 and 4," as well as "Summer's Last Gasp: Notice 2010-60 - Preliminary Guidance Under FATCA, 39 Tax Mgt Int'l Journal 760 (Dec. 2010) and "Reporting, Withholding, and More Reporting: HIRE Act Reporting and Withholding Provisions," 39 TM Int'l Journal 243 (May 2010). Much of her work has been for insurance companies in the cross-border context. She has particular experience in cross-border restructuring transactions, inbound corporate transactions, withholding matters, and treaty interpretation issues, as well as cross-border taxation of corporate executives and the U.S. taxation of non-U.S. citizens. She also advises clients on tax issues involving intellectual property transactions.

Her prior experience includes service in the IRS Office of Associate Chief Counsel (International) and as a Special Assistant to the Assistant Commissioner (International). While at the IRS, she participated in a number of income tax treaty negotiations, was the IRS National Office adviser in several Tax Court cases, and worked on various regulations and other guidance, including significant participation in developing regulations concerning the taxation of software transactions.

About Sutherland Asbill & Brennan, LLP

Sutherland Asbill & Brennan LLP is a law firm with global reach known for solving challenging business problems and resolving sophisticated legal issues for many of the world’s largest companies. Founded in 1924, the firm handles matters throughout the United States and worldwide. Seven major practice areas—corporate, financial services, energy and environmental, intellectual property, litigation, real estate, and tax—provide the framework for an extensive range of focus areas, allowing Sutherland attorneys to serve a diverse client base that ranges from small and medium-sized start-up businesses to a significant number of Fortune 100 companies.

For more information about Carol P. Tello and Sutherland Asbill & Brennan LLP, please visit: http://www.sutherland.com/

To register in this event, please click on this link:
http://web.memberclicks.com/mc/quickForm/viewForm.do?orgI...

About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series

The Knowledge Congress was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register to an event, please visit: http://www.knowledgecongress.org.