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KSCPA Members $280.00 - Non Members $310.00

Designed for 8 hours CPE & approved for 8 hours KS CLE

MAJOR TOPICS:

New or proposed legislation, new cases, rulings and regulations

Tax issues regarding leasing and subleasing transactions

Prepaid IDCs

Cost and percentage depletion calculations

SMLLCs

Like kind exchange rules on qualified replacement property

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KSCPA Oil & Gas Federal Income Taxation Update & Review

“Oil & Gas Goes to College” May 19, 2014, Fort Hays State University, Robbins Center

STEERING COMMITTEE Kathy Mitchell, CPA, Chair Partner, Brungardt Hower Ward Elliott & Pfeifer, LC, Hays

Mitch Caddell, CPA Managing Director, BKD, LLP, Wichita

Michelle Schneider, CPA Principal, Adams, Brown, Beran & Ball, Chtd., Great Bend

Staff Liaisons:

Mary R. MacBain & Marlene Shellenberger

Renew and refresh your knowledge of oil and gas taxation. This program will bring you up to date by focusing on current

developments and the major tax principles applicable to oil and gas upstream operations. In addition, the seminar will take another

look at the oil and gas Market Segment Specialization Program (MSSP) Audit Guide issued by the IRS to identify important audit

issues for IRS Agents.

The materials for this program include a complete copy of the MSSP. The author’s outlines are cross referenced to the MSSP as

well as CCH’s recently published treatise Oil and Gas - Federal Income Taxation (2014 Edition). These reference materials will be

used to highlight the IRS’s position on various oil and gas tax questions, cases, Revenue Rulings and other IRS guidance. Recently

published oil and gas industry Coordinated Issue Papers will also be discussed.

WORKSHOP SCHEDULE

08:00 – 08:25am Registration & Continental Breakfast

08:25 – 08:30am Welcome by Dr. Mark Bannister, Fort Hays State University,

Dean, College of Business & Entrepreneurship

Announcements by Kathy Mitchell, Workshop Chair

08:30 – 10:10am Session 1*

10:10 – 10:20am Break

10:20 – 12:00pm Session 2*

12:00 – 12:30pm Lunch – with special guest speaker Dr. Glen Growe, Fort Hays State University, Oil and Gas Department

12:30 – 02:10pm Session 3*

02:10 – 02:20pm Break

02:20 – 04:00pm Session 4*

* Learning Objectives:

1. Provide a quick update on new and proposed legislation and new cases, rulings, and regulations

2. Provide short reviews of the pool of capital theory, unit of property, economic interests, leasing transactions, geological

and geophysical costs and requirements for deducting IDCs

3. Provide short reviews of subleasing transactions, deducting prepaid IDCs and IDCs paid to related parties, passive activity

loss concerns, calculations of cost and percentage depletion, and the AMT impact on individual taxpayers.

PILLARS of the

ECONOMY & THE

PROFESSION

KSCPA & KSGFOA Members $310.00 - Non Members $360.00

Designed for 16 hours CPE and Yellow Book Credit

One-day registrations available-Members $190.00 & Non Members $220.00

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has current teaching responsibilities in the School of

Accountancy and the Graduate Tax Program at the

University of Denver (DU). Dr. Tripp has been teaching

income taxation at DU since 1979, specializing in the

taxation of natural resources, property transactions and

consolidated returns. His public accounting experience

includes a two year stint

with KPMG prior to his

teaching career, and

while on a leave of

absence from DU he

worked in the National

Tax Department of Ernst

& Young as a Visiting

Professor for two years.

He has also spent three

sabbaticals gaining

practical professional

experience with the

Denver offices of KPMG,

Arthur Andersen & Co.

and a large independent oil and gas company.

He is an active member of the American Taxation

Association and Co-chairman of the COPAS-Colorado

Tax Committee.

John is a former Trustee of COPAS-Colorado and a past

member of the Washington, D.C. S Corporation Study

Group, as well as past Treasurer of the Denver Tax

Group. He has served on several tax committees of the

Colorado Society of CPA's, and has been a member of

the University of Denver's Tax Institute Planning

Committee for many years.

His articles have been published in many professional

journals including: The Journal of Taxation, Taxes - The

Tax Magazine, The Tax Advisor, The Journal of

Partnership Taxation, Accounting Horizons, and The Oil

and Gas Taxation Quarterly. He is also a contributing

author to Tax Management Inc.'s Tax Practice Series on

S

Corporations

and

Southwest’s

tax textbook

series Federal

Income

Taxation and

Individual

Federal

Taxation.

In addition to

writing

continuing

professional

education courses for MircoMash (including: Oil and

Gas Taxation and Alternative Minimum Tax -

Corporate), he has written and presented programs to

numerous professional groups and tax institutes around

the country. Most recently he has made presentations

to the 52nd Annual Texas CPA Tax Institute, Texas

Society of CPAs; the Kansas Society of CPAs 2007

Annual Tax Institute; The Oklahoma Society of CPA’s

2012 Oil and Gas Conference, and the 2007, 2008,

2009, 2010, and 2011 AICPA-PDI National Oil and Gas

Conferences.