Overview
Several McDermott attorneys spoke at the American Bar Association (ABA) 2025 Midyear Tax Meeting in Los Angeles, CA, during the following sessions:
How to Treat Data for Tax Purposes
In today’s data-centric economy, data is no longer a mere byproduct of business operations, but rather a strategic asset that implicates difficult tax and economic questions. How does one assign value to data for purposes of purchase price allocation or transfer pricing? Is data tangible or intangible personal property? Should data be depreciated or amortized? How should we measure data’s useful life? This panel discussed the problems inherent in valuing data through a tax lens and highlight key considerations for tax attorneys and business executives alike.
Speaker: John Karasek
Wednesday, February 19
Welfare Plans, EEOC, FMLA and Leave Issues Update
This subcommittee panel addressed the 2024 Mental Health Parity and Addiction Equity Act (MHPAEA) regulations, explored issues plans should consider before sharing plan data with point solution administrators, voluntary benefit insurers, consultants, and other service providers, provided an update on pharmacy benefit design and compliance, and revisited key legal challenges to federal regulations governing health plans (including lawsuits targeting ACA preventive care mandates and HIPAA privacy regulations). Additionally, representatives from the IRS and HHS were invited to provide an update on current projects, including guidance addressing the No Surprises Act and MHPAEA.
Panelist: Alden Bianchi
Thursday, February 20
ESOPs Update. This meeting spent some time discussing the anticipated proposed “adequate consideration” regulations and reviewed current case law affecting ESOPs, including case law challenging “segregation of accounts” from company stock to cash on termination of employment and the investment of non-stock assets within the ESOP. The panel also summarized concerns with the recent magistrate decision calling into question the DOL’s “common interest” agreement with certain plaintiff counsel firms. The panel discussed some anecdotal information regarding DOL and IRS investigations informing timing as to the review process. Finally, the panel discussed interest rates considerations on ESOP loans in a changing interest rate environment).
Panelist: Myriem Bennani
Thursday, February 20
