Foreign Currency Tax Transactions—Tax Opportunities and Risks

Program Number: 2141

Program Date: 08/17/2011

Description

Andrea Kramer, a partner in McDermott Will & Emery LLP, provides an overview of popular currency products and their uses because the foreign currency tax rules build on the rules of financial products. Our presenter addresses the different types of taxpayers and the tax rules applied to them, section 1256 contracts, the tax straddle rules, the mark-to-market rules; and special tax hedges. She then builds on these financial product building blocks to show how special foreign currency tax elections modify and interact with these rules.

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Available in states

Arizona, California, Colorado Eligible, Florida, Georgia, Missouri, New Jersey Eligible, New York, Texas Self Study

Credit Information

50 minute credit hour - 1.0 General CLE credit
60 minute credit hour - 1.0 General CLE credit

State Program Numbers

Presenters


Andrea S. Kramer, Esq.

McDermott Will & Emery LLP

Andrea S. Kramer, Esq. is a partner in the law firm of McDermott Will & Emery LLP, based in its Chicago office. She is a member of the Firm's Tax Department; head of its Financial Products, Trading and Derivatives Group; co chair of its Energy Services Group; and a member of its Global Renewable Energy, Emissions and New Products Group and its International Dispute Avoidance and Resolution Group. She is also a member of her firm's Management Committee and is chair of its Gender Diversity Committee. Ms. Kramer focuses her legal practice in the multifaceted world of derivative financial products (their taxation, management, trading, regulation and documentation) and energy and commodity trading, contract negotiation and dispute resolution. Among her many other honors, Chambers USA ranked her as a Leading Individual in tax for her “expert opinions on the taxation of financial products” (2009) and her “expertise in the tax treatment of financial instruments and derivatives” (2010).  Also in 2009, The Legal 500 ranked her as a Leading Lawyer in tax as “widely recognized as one of our nation’s most important voices in financial market tax policy.”  The author of Financial Products: Taxation, Regulation, and Design (CCH 2006), which is the leading treatise on financial products law (supplemented annually), Ms. Kramer speaks regularly at conferences and workshops and she is an adjunct professor at Northwestern University School of Law. In her efforts on behalf of improving gender diversity, she also frequently speaks at national diversity conferences, trade association meetings, and professional service firms on assuring women equal access to advancement and career opportunities and ways for women to take on leadership roles in law firms and other professional service firms.