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Follow on Google News | Scott D. Davis, Partner, WithumSmith+Brown, PC to Speak at KC’s EventBy: The Knowlegde Group For further details, please visit: http://theknowledgegroup.org/ About Scott D. Davis A member of the firm’s National Tax Services Group, Scott has over 25 years of experience in both public accounting and private industry. He has a thorough knowledge of real and personal property statutes on a national basis preparing returns in the states that require annual filing, real and personal property tax appeal and audit defense work. In addition, Scott specializes in coordinating cost segregation studies and property tax reclamations. Internationally, Scott has strong experience in the preparation for both US and foreign entities in the area of transfer pricing to ensure compliance with Internal Revenue Section 482. Scott has also performed capital allowance studies in the United Kingdom to ensure compliance with Sections 198 and 199 of the HM Revenue and Customs (HMRC). He has appeared before the HMRC on audit defense of capital allowance studies. Scott also has been involved with tax strategy on the due diligence of M&A involving foreign investors looking to open operations in the United States. Scott received his masters of science in taxation from Seton Hall University and juris doctorate (JD) from Seton Hall University School of Law. A graduate of the University of Bridgeport, he also received his BS degree in accounting and AS degree in economics. As a tax specialist, Scott has worked for both large, national firms and local firms and has repeatedly developed and grown nationwide tax practices. In addition, he has presented and written articles on numerous tax topics. Scott is a member of the American Institute of Certified Public Accountants (AICPA) and also served as indirect chair for the Geneva Group International (GGI) of the Americas. He resides in Union County, NJ. About WithumSmith+ At WithumSmith+ Event Synopsis: In February 2014, the US Internal Revenue Service (IRS) released a Transfer Pricing Audit Roadmap to guide IRS auditors when planning, assessing, and executing transfer pricing cases. Companies can expect extensive and detailed demands for documentation at every stage of the transfer pricing audit cycle prior to an assessment of transfer pricing. There will be a 24-month audit timeline that may surprise some taxpayers who have not faced a transfer pricing review. The IRS states that the Notice of Proposed Adjustment should appear to be ‘inevitable’ Initial documentation is critical to preventing a transfer pricing audit. Companies need to have a clear, articulate explanation of inter-company pricing when facing tax authorities. Foreign exchange risks, poor business conditions, and other excuses will not be admissible. Hence, companies should develop and review a risk assessment of transfer pricing to anticipate and mitigate the risk of auditing. In a two-hour, LIVE Webcast, a panel of thought leaders and professionals assembled by The Knowledge Group will help the audience in understanding the IRS transfer pricing audit roadmap released by IRS Transfer Pricing Practice. The panel will also provide the audience with best practices to ensure compliance with regulations and to minimize the risk of auditing. Key topics include: § Transfer Pricing Audits (TPA) – An Overview § TPA Roadmap Objectives and Benefits § Transfer Pricing Audit Roadmap Phases § Potential Risks and Implications § Advance Pricing and Mutual Agreement Program (APMA) § Transfer Pricing Practice (TPP) § Audit Techniques and Methods § The Quality Examination Process (QEP) § Compliance and Litigation Risks § Best Practices About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series The Knowledge Group 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://theknowledgegroup.org End
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