For many low-income individuals,  filing taxes may be a daunting task, and many may even choose to avoid interacting with the IRS altogether due to negative experiences. However, not filing taxes may mean missing out on crucial refunds and benefits.. 

From low-income taxpayer clinics in communities to organizations and initiatives such as VITA, GetYourRefund and Code For America, there are a multitude of pro bono opportunities for tax attorneys to get involved in to ensure taxpayers receive the benefits they deserve.

According to Jaclyn Roeing, an attorney at Skadden who volunteers with Community Tax Aid in Washington, D.C., “One of the key benefits of pro bono work is the opportunity to give back to your community and to use the skills you develop as a lawyer for clients that would otherwise not have representation at all, and that you might never get to engage with.” 

Don’t miss this Spotlight Series episode of GILTI Conscience as we sit down with Jaclyn to discuss how engaging in pro bono work as a tax attorney benefits both communities and attorneys, and how you can get involved.

Name: Jaclyn Roeing

What she does: Jaclyn is a lawyer at Skadden whose work focuses on tax controversy and litigation. She dedicates a significant amount of her time to pro bono work, representing the interests of low-income individuals and volunteering her time with Community Tax Aid in Washington, D.C.

Organization: Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates

Words of wisdom: “One of the key benefits of pro bono work is the opportunity to give back to your community and to use the skills you develop as a lawyer for clients that would otherwise not have representation at all, and that you might never get to engage with. And there are plenty of those opportunities in tax.”

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GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

The OECD transfer pricing guidelines include DEMPE — the development, enhancement, maintenance, protection and exploitation of intangibles — as part of their efforts to deal with the legal status of both IP and economic ownership. Originally, the regulations stated that only legal ownership existed; DEMPE was incorporated to accommodate contributions made by entities other than the legal owner. 

But how dependable and comprehensive are the DEMPE guidelines? 

In this episode of “GILTI Conscience,” Mike McDonald, an executive director in the National Tax Department at Ernst & Young, joins our hosts to discuss whether DEMPE is supportable and more efficient than a traditional review of functions, assets and risks. 

Mike also shares his perspective on recent developments in transfer pricing. Mike and the “GILTI Conscience” team look at varying approaches to the accounting practice — while some professionals believe that “functions, functions, functions” is the only sustainable tactic, others contend that the arm’s length guideline is backed by sufficient valuations to outperform the alternatives. Mike delves deeply into the arguments for the arm’s length approach. “I always thought one of the strengths of the arm's length principle, if done properly, is its inherent neutrality compared to all alternatives,” he says. 

What do these developments and perspectives tell us about the future of DEMPE and transfer pricing? And what patterns has an expert like Mike seen over the past two decades? Tune in to find out!

Name: Mike McDonald 

What he does: An executive director of the National Tax Department at Ernst & Young and a former senior economist at the U.S. Department of the Treasury, Mike is an expert on developments in transfer pricing over the past 20 years.

Organization: Ernst & Young

Words of wisdom: ”Realistic alternative is a tool that allows countries or taxpayers to take a step back and say, Hold on a second, does this pass the smell test? Because if something doesn't pass the smell test, odds are a realistic alternative framework can identify that.”

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GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. The insights and views presented in GILTI Conscience are for general information purposes only and should not be taken as legal advice for any individual case or situation. The information presented is not a substitute for consulting with an attorney, nor does tuning into this podcast constitute an attorney-client relationship of any kind.

In this episode of the “GILTI Conscience” podcast, Roger Brown, global head of Tax Strategy at Chainalysis, joins our hosts Nate Carden and David Farhat to talk about the basics of blockchain. Roger explains what blockchain is, how tax rules apply to crypto and the field’s potential benefits.

Roger says that people regularly approach him with questions about blockchain and crypto — although the sector began forming many years ago, substantial uncertainty remains, especially regarding tax rules and policies. Roger therefore begins this overview with the basics. He notes that buzzwords like “bitcoin” and “blockchain” are commonly thrown around, but he emphasizes that they’re only interconnected, not interchangeable. Bitcoin, which uses blockchain technology to secure transactions, is intended to be a peer-to-peer payment network, while blockchain is utilized for recordkeeping, tracking the movement of a digital asset (such as bitcoin) from virtual wallet to virtual wallet.  

Roger also notes that the crypto space is more expansive and potentially beneficial than most people realize. “Crypto” refers to more than just payment applications. Technologies like Filecoin, a blockchain-based cooperative digital storage system, are focused on replacing business functions. Individuals and businesses alike can take advantage of such advances. But what important tax rules and policies should you understand before diving into this space?

From a technical tax perspective, Roger says, the rules are nothing new. When you own cryptocurrency or any other digital asset, it’s your property and, therefore, property rights still apply. If you’re worried about taxation on cryptocurrencies as trading becomes more commonplace, Roger suggests investing in a partner company. These experts can help you understand how tax rules apply to crypto and ensure the IRS doesn’t come knocking on your door for an audit.  

Name: Roger Brown

What he does: Roger is the global head of Tax Strategy at Chainalysis. He has 30 years of international tax experience for multinational enterprises in financial services, technology, blockchain and other industries. Roger has worked with law firms, accounting firms and the national office of the IRS. 

Organization: Chainalysis Inc.

Words of wisdom: “There are all these [technologies] now that are leaning into these traditional business processes, that are far more than just payments.

Connect: LinkedIn

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GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.

In this episode of the “GILTI Conscience” podcast, longtime Skadden tax partner Fred Goldberg joins our hosts Nate Carden and David Farhat to discuss his one-of-a-kind journey through the public and private tax sectors. Fred details the changes he’s seen, his hopes for the future of the field and his advice for those looking to begin a career in tax law.

As Fred notes, the tax system is the one set of regulations that every individual, family, business and nonprofit in the country must contend with each year. And for each, the challenge is the same: When you get your taxes right, everything is fine, but when you get them wrong, havoc ensues. 

Many people who might consider a career in tax law are driven away by misconceptions about the work — e.g., a tax attorney can’t be altruistic or give back to society. However, Fred believes tax is not just transactional — it’s also relational: The field presents opportunities to collaborate, chase your passion and connect with others. The profession also needs a wide range of personalities and perspectives — you don’t have to change yourself to fit some preconceived notion of an ideal tax attorney. A career in the tax field requires only creativity, listening skills and authenticity. 

Fred hopes that mentorship, education and a willingness to shift perspectives can enable tax law to become more diverse and inclusive. He regularly shares the same advice with aspiring lawyers, young professionals already in the tax sector and people on the street: Tax law can make for an outstanding career. 

Name: Fred Goldberg

What he does: Fred is of counsel in Skadden’s Tax Group. He represents business, tax-exempt, and individual clients in all phases of dispute resolution with tax authorities. A primary focus of his practice has been to resolve large and complex tax controversies related to a wide range of issues across all industries. Fred is a former IRS chief counsel, IRS commissioner and Department of the Treasury assistant secretary for tax policy. 

Words of wisdom: “Saying it's easy, doing it's hard, but that's why the career is so wonderful. No matter who you are, how you think, what you care about, whether you go into it hammer and tong in a big fight, or whether you like three-dimensional chess, whatever turns you on, it is a spectacular profession.”

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GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.

In this episode of the “GILTI Conscience” podcast, Bram Isgur, principal at Keystone Strategy, joins our hosts Nate Carden and David Farhat to talk about transfer pricing on an ex ante and ex post basis. They discuss the use cases for each method, how these methods differ across industries and why it’s important to think about the bigger picture in preparing for unimaginable events and changes. 

So, should you take an ex ante approach, where you look forward and try to figure out your pricing for events that have not yet occurred? Or do you take an ex post approach, where you wait to see what happens and work your way backward? Because there are pros and cons to each, it’s difficult to give a definitive answer. However, Bram has some advice for companies grappling with these choices. 

For example, many companies in the tech space either boom or bust, which often leads to tax controversy years later. On the ex ante front, when you’re undertaking a transaction that involves risk, you have to write down what the risks entail — you can't rely solely on the statements put together by people who believed the company would succeed. In particular, you should have someone from the business side and someone from the tax side looking at your documentation. The ex ante approach allows you to talk through your strategy before risks come to pass. 

On the ex post side, it’s helpful to take a look at businesses that already failed. Instead of wondering if your company’s success was inevitable, take a look at other companies that existed around the same time and would have been viewed as competitors. Examine their model and look at what happened to them. The ex post approach is often more convenient and accurate in certain cases.

No matter which approach you take, it’s vital to assess your situation, determine what’s best for your business and stick to a plan of action. There are no perfect solutions, but consistency gives you a better position to deal with possible tax controversy down the road.

Name: Bram Isgur

What he does: Bram is a Principal at Keystone Strategy, an economics consulting firm for Fortune Global 500 companies, top law firms, and government agencies. An economist, Bram advises law firms, multinational companies, and banks on diverse issues, including tax and regulatory compliance, transfer pricing controversy, antitrust, and securities law. 

Bram’s specialty areas include negotiation of multilateral Advance Pricing Agreements with the IRS and other tax authorities, transfer pricing relating to financial transactions, risk, banking and global dealing, and economic analysis to support Regulation W compliance. 

Organization: Keystone Strategy

Words of wisdom: “Instead of thinking about this particular time in this particular instance, [you] should think more about long term industry trends. It's absolutely true that like there's going to be another black swan event and I don't know what it will be and nobody else knows what it will be either.”

Connect: LinkedIn

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☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at [email protected].

GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.

In this episode of the “GILTI Conscience” podcast, Kroll directors Ryan Lange and Kerim Keser and Skadden partner Johannes Frey join our hosts Nate Carden and David Farhat to explore the details of the German nonresident IP withholding tax. They discuss taxation questions that are still up in the air, how the rule could affect multinational corporations, the valuation of intellectual property (IP) registration and the best steps to take if you owe taxes under this law. 

Originally implemented in 1925, the German nonresident IP withholding tax is coming back into the public eye after years of inactivity. The tax law states that if a foreign resident company has an IP registered in Germany, it may be subject to German nonresident taxation. However, uncertainty remains around authorities’ ruling on the tax, the process for determining tax requirements and to whom the tax applies.

At present, it remains unclear which types of multinationals are affected by this tax law. However, tax experts advise that companies with an IP registered in Germany cover their bases in order to avoid an audit, interest risk, liability risk and even corporate risk. This means companies should disclose their situation to German authorities. 

Name: Ryan Lange

What he does: Ryan is a Director in Kroll’s Chicago Transfer Pricing practice, and he advises clients’ senior management on a variety of issues related to transfer pricing, economics, and valuation. He has over 12 years of experience providing advice to companies spanning all sizes and industries. Ryan is a leader within the Chicago Tax Club and has chaired the international tax committee for the past five years. Additionally, he has co-authored various articles and frequently speaks on transfer pricing topics at both domestic and international conferences. 

Organization: Kroll

Connect: LinkedIn



Name: Kerim Keser

What he does: Kerim is a Managing Director in Kroll’s Munich office and leads Kroll German, Swiss, and Austrian transfer pricing activities. He has 15 years of transfer pricing experience in consulting firms and at the Australian Taxation Office. He has extensive experience developing transfer pricing solutions for companies and advising across industries, including automotive, consumer products, pharmaceuticals, technology, and financial services. 

Organization: Kroll

Connect: LinkedIn

Name: Johannes Frey

What he does: Johannes is a Partner in Skadden’s tax division. He has a broad transaction-oriented tax practice with an emphasis on corporate restructurings, acquisitions, spin-offs, joint ventures, and transactions involving cross-border tax planning. Johannes is named a leading lawyer in JUVE Wirtschaftskanzleien, Chambers Global, and Chambers Europe. He also was previously named by Wirtschaftswoche as one of the top 25 corporate tax lawyers in Germany and has repeatedly been named by Handelsblatt/Best Lawyers on its list of Germany’s Best Lawyers.

Organization: Skadden

Connect: LinkedIn

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☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at [email protected].

GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.

In this episode of the “GILTI Conscience” podcast, Skadden international tax attorney Paul Oosterhuis and associate Huzefa Mun join our hosts Nate Carden and David Farhat to discuss legislation, new regulations and the Build Back Better Act. They examine possible outcomes if the Build Back Better Act is not adopted, including changes in other tax regulations that could arise, as well as the potential impact of the “Two-Pillar Solution” on global taxation.

The Build Back Better Act has received a great deal of recent attention, but it doesn’t look like we’re going to see any movement on it in the near future. Many analysts therefore are focusing on what is likely to happen on the regulatory and pillars front were the bill not to pass. Paul suggests there would be a fair amount that the Treasury Department would want to consider with respect to the treatment of interest expense for U.S. multinationals. Possible changes include increased foreign tax rates, new check-the-box regulations and alterations in foreign tax credit regulations.

Next, the guests discuss whether the OECD’s two-pillar method will shift taxation away from standard international tax rules and bring about a global minimum level of taxation. Pillar One requires a physical presence in a country before that country can tax, and Pillar Two sets a minimum tax at a 15% rate. However, what happens if these pillars are enacted by other countries but not the U.S.? Paul and Hufeza expect that Pillar Two will not be difficult to enact in the EU, the U.K., Japan, Australia and many of the other major countries with multinationals. However, without Pillar Two, the U.S. would likely encounter problems for several years, unless major reform takes place. In addition, absent Pillar One, the U.S. is likely to face a period of chaos, unless it can “beta test” and see if a large group will adopt the pillar.

Finally, the group discusses a few other statutes and regulations you should be aware of relating to the Build Back Better Act and international taxation.

Name: Paul Oosterhuis

What he does: Paul is Of Counsel in Skadden’s international tax sector. He has extensive experience in mergers and acquisitions, post-acquisition integration, internal restructurings, and joint ventures. He has been ranked in the top tier of Chambers USA each year since the guide was first released in 2003 and has been selected for inclusion in Chambers Global, Tax Directors Handbook, The Legal 500 U.S., Who’s Who Legal: Corporate Tax, IFLR1000 and The Best Lawyers in America. He also was named a 2017 BTI Client Service All-Star.

Organization: Skadden

Words of wisdom: “The final thing that is regulatory in nature that comes into play in all of this is the new foreign tax credit regs. The regulations have been like a tsunami coming through the international tax community since they became final.”

Connect: LinkedIn

Name: Huzefa Mun

What he does: Huzefa is an associate at Skadden, where he advises clients on US and international tax matters. He has particular experience advising multinational companies on IP structuring, transfer pricing audits and dispute resolutions, supply chain and operational tax planning, joint ventures, and real estate and REIT transactional and operational planning.

Organization: Skadden

Words of wisdom: “It's a really interesting time now because we're following up with tax law in the same way that we're following up with the 24-hour news cycle because everything is changing so rapidly. It's a very interesting time and there are so many different moving parts and there's so much complication going on. Trying to make sense of it is going to be, I think, the task for a lot of tax practitioners going forward.”

Connect: LinkedIn

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GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.

In this episode of the GILTI Conscience podcast, Loren Ponds, Member at Miller & Chevalier in Washington, D.C., joins our hosts to share an overview of the tax legislative process. She discusses the outlook for current tax bills moving through the house and how changes and feedback are incorporated.

Over the past two decades, most of the major tax legislation has gone through a reconciliation process where the bills start in the house. The review procedure includes a scoring process to ensure the bill will not increase the deficit before it can be passed. 

Feedback also plays an important role in shaping the final version of a tax bill. Bills can be improved by inviting taxpayers to share the real-world implications of a change. In addition, asking the advisor taxpayer community to share critical feedback, with a clearly defined scope can be very helpful. 

Predicting all of the fact patterns that might apply to a certain bill is impossible, but collecting feedback can help anticipate more of them, making a bill more comprehensive before it is passed. 

Tax bills are gaining in popularity and controversy thanks to increased coverage from the media. This means more attention is given to how politicians approach tax legislation. This attention often focuses on how both sides of the aisle collaborate on tax policies that are easier to agree on, such as international tax provisions.  

So how does this affect current legislation and how will Congress review the Build Back Better Act amongst the many pressing issues on their agenda? 

Episode guest Loren explains, “There are a lot of other things that are on Congress's agenda besides tax. That said, the Build Back Better Act has some spending provisions that are a very high priority to the current administration.”

Name: Loren Ponds

What she does: As a Tax Member at Miller & Chevalier, Loren centers her practice on providing strategic counsel to clients on legislative, regulatory, and other tax policy issues, as well as advising on technical tax matters related to transfer pricing and other international tax topics. She also co-hosts the podcast tax break with her colleague, Steve Dixon.

Organization: Miller & Chevalier

Words of wisdom: “When there's legislation on tap, if you are adversely impacted by the provision, make your position known. It may not change the outcome, but at least you're participating in the process.” 

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☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at [email protected].

GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.

Diversity, equity and inclusion (DEI) make business sense for every professional community. For the tax practice, where creativity is essential, diversity elevates the practice, benefitting everyone from clients to the government and practitioners themselves.

The tax community, however, lacks DEI for a host of reasons. At the heart of the problem is the ubiquity of whiteness and a pervasive insensitivity to otherness, whereby "others" must learn to navigate whiteness to survive. Maleness and whiteness often are used as synonyms for competence, which leaves women, people of color and LGBTQ+ attorneys constantly feeling compelled to prove themselves.

These issues widen the inequality gap in the tax practice and further a discriminatory system. Such a system places undue pressure on diverse attorneys to succeed, not only for themselves but also to keep the gate open for those who follow. This burden makes the already-challenging practice of tax law even harder.

How can you contribute to changing this reality and promoting diversity in the tax community? 

In this episode of the GILTI Conscience podcast, Skadden partners David Farhat and Nate Carden kick start The Spotlight Series by talking with associates Eman Cuyler and Stefane Victor about both the challenges to and opportunities for promoting diversity within the tax law community.

Click here for the full show notes, transcript, and video.



★    The ubiquity of whiteness and maleness in the tax practice. The need for diverse attorneys to learn to navigate whiteness to survive in corporate America, with no reciprocal requirement for white attorneys, contributes to an uneven playing field. Maleness also has become synonymous with competence and success.

★    The fate of a diverse attorney. The diverse attorney often must do the "shrug of resignation" and say to themselves, "This is the world I live in. This is what I've chosen. I just have to deal with it." They also live with the undue pressure to succeed for the next diverse attorney's sake. This background level of stress makes a challenging legal discipline even harder.

★    How can you contribute to promoting DEI in the tax community? You can start with encouraging diversity in mentoring, being vulnerable and doing some research. Attorneys also should strive to be sensitive to cultural differences and how they impact work and relationships.

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☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at [email protected].

GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.

Understanding the 2022 OECD Transfer Pricing Guidelines and how it applies to guarantees and other financial transactions is essential for multinationals trying to manage intercompany lending and get their transfer pricing right.

Granted, these companies have to fund themselves, whether through intercompany debt or guaranteed loans. They have to move money across borders, but how they do that, how the rules apply in different tax jurisdictions, and how everyone gets their appropriate piece of the pie can become very complicated.

Profound transfer pricing questions tend to arise when deciding which credit rating applies to a subsidiary of a multinational because that can make a big difference on interest rates and tax implications. Another concern is that if a subsidiary has to get the stand-alone treatment because of the arm's length principle, what is the value of implicit support?

Dealing with these issues opens a can of worms that questions the core of transfer pricing as we know it. For one, why should implicit support be a borrower-only analysis when a lender can also be a part of a group? Since implicit support applies to 'important subsidiaries,' are there non-important subsidiaries?

The new guidelines attempt to address some of these issues related to the arm's length standard for cross-border transactions between associated enterprises. However, these guidelines don't apply equally across different jurisdictions. For instance, which rules should multinationals that have operations in the U.S consider, and in what scenarios do the new OECD guidelines come into effect? 

In this episode of The GILTI Conscience podcast, hosts, Skadden Partners David Farhat and Nate Carden, Associate Eman Cuyler, and Clerk Stefane Victor sit down with Abraham (Bram) Isgur, Principal at Keystone Strategy. They discuss transfer pricing for cross-border intercompany loans and guarantees, the OECD guidelines, the controversies to expect and prepare for, ideas for engaging with tax authorities, and more.

Name: Bram Isgur

What He Does: Bram is a Principal at Keystone Strategy, an economics consulting firm for Fortune Global 500 companies, top law firms, and government agencies. An economist, Bram advises law firms, multinational companies, and banks on diverse issues, including tax and regulatory compliance, transfer pricing controversy, antitrust, and securities law. 

Bram’s specialty areas include negotiation of multilateral Advance Pricing Agreements with the IRS and other tax authorities, transfer pricing relating to financial transactions, risk, banking and global dealing, and economic analysis to support Regulation W compliance.

Connect: LinkedIn

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☑️ Let us know what topics you would like to hear about on GILTI Conscience by emailing our executive producer at [email protected].

GILTI Conscience is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden’s tax team is recognized globally for providing clients with creative and innovative solutions to their most pressing transactional, planning, and controversy challenges. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.