Stevie D. Conlon | Wolters Kluwer
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  • Stevie D. Conlon

    Stevie D. Conlon

    Vice President, Tax & Regulatory Counsel: Investment Compliance; U.S. Advisory Services

    Stevie D. Conlon, vice president, tax and regulatory counsel for Wolters Kluwer, holds dual responsibilities. She is a leader with the firm’s Investment Compliance Solutions line of business, where she oversees tax regulatory issues and development. In addition, Conlon leads the firm’s U.S. Advisory Services group, which offers consultative expertise to help financial institutions comply with regulatory requirements.

    Conlon, who joined Wolters Kluwer in 2004, brings a wealth of experience to her roles. A nationally recognized financial industry expert on the taxation of financial products and software solutions for financial firm compliance, she manages this firm’s Corporate Actions Suite products. Additionally, she has led the tax regulatory compliance development aspects of many of the larger business’ products for over 10 years including straddles, cost basis for stock, less complex debt and more complex debt, FATCA grandfathering, and Sec. 305(c) as well as Sec. 871(m) withholding. She is a nationally recognized tax expert on the cost basis tax law, as well as on the taxation of financial products and derivatives.

    Conlon practiced law for 18 years, specializing in tax, corporate, securities regulations and secured transactions for financial institutions and financial instruments of all sizes. For over 30 years, she has participated as an expert and advisor relating to the development of many federal compliance regulations. She has extensive experience analyzing financial industry regulatory compliance challenges, evaluating industry impact, and advising clients on compliance and risk mitigation strategies and solutions. 

    Conlon has been quoted in various news publications, including The Wall Street Journal, Forbes, USA Today, Chicago Tribune, Barron’s, Securities Technology Monitor, and InvestmentNews

    Conlon is the lead author of the tax law treatise “Principles of Financial Derivatives: U.S. & International Taxation,” the author or co-author of more than 50 tax-related articles, a member of the advisory boards for the Journal of Taxation of Financial Products and Derivatives Report, former chair of the American Bar Association (ABA) Tax Section Financial Transactions Committee, a former ABA Tax Section Council director, former chair of the Chicago Bar Association Federal Taxation Committee, a member of ABA Tax Section Financial Transactions and Investment Management committees, a member of the New York State Bar Association Tax Section Financial Instruments Committee, and a fellow of the American College of Tax Counsel. 

    In 2013, Conlon received the Tony Fireman Award from the Shareholder Services Association in recognition for her exceptional contributions to the financial services industry and initiatives related to cost-basis accounting in particular.  She is a member of the New York and Illinois bars and is a certified public accountant (CPA). She was previously a partner in major national and international law firms including Katten Muchin, Baker & McKenzie, and Chapman and Cutler.

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    Sec_ 871(m) Withholding Compliance Challenges Remain After IRS Issues Updated Final Relations
    (Published April 21, 2017)  This paper notes key changes included in the January 2017 Regulations, summarizes key aspects of the Section 871(m) regulations, and highlights key implementation and compliance challenges for U.S. withholding agents.
    Sec. 871(m) Withholding Compliance Challenges Remain After IRS Issues Updated Final Relations(1)
    (Published April 21, 2017)  This paper notes key changes included in the January 2017 Regulations, summarizes key aspects of the Section 871(m) regulations, and highlights key implementation and compliance challenges for U.S. withholding agents.
    Deemed Dividends Without Cash—New IRS Proposed Code Sec. 305(c) Regs Trigger Outcry and Create Challenges for Convertible Debt, Stock and Rights
    (Published 2016) In this Journal of Taxation of Financial Products article, Wolters Kluwer senior director and tax counsel, Stevie Conlon, analyzes the Proposed 305(c) regulations, including a discussion of the relevant legislative history and pre-existing IRS guidance.
    Treasury Issues Convertible Bond Deemed Distribution Regs
    (Published April 13, 2016) In this Tax Notes article discussing new Section 305(c) proposed guidance issued by the Internal Revenue Service, Wolters Kluwer expert Stevie Conlon weighs in on the changes. According to Conlon, while not having a withholding requirement would be preferable, the update provides a more appropriate rule for determining the amount of the deemed dividend that is consistent with the current thinking about what the value of derivative rights are.
    Are tax exempt bonds with OID exempt from cost basis reporting?
    Do the final cost basis regulations require calculation of adjusted cost basis to be reported on 2014 Form 1099-B for tax-exempt OID bonds sold?
    FATCA Regulations Update—Grandfathered Debt Modification Test Changed, However Pitfalls Remain
    Grandfathered Debt Modification Test Changed, However Pitfalls Remain.
    IRS grants one-year delay in cost basis reporting for debt and options
    On May 2, 2012, the IRS issued Notice 2012-34 announcing that the IRS intends to delay the effective date for debt and option basis reporting for one year, from the initial proposed date of January 1, 2013 to January 1, 2014.
    IRS Issues Final Form 8937 and Related Notice 2012-11
    Detailed information regarding Form 8937 and Related Notice 2012-11.
    Cost Basis Reporting Legislation - Passed by US House May 2008
    Cost Basis Reporting Legislation: Passed by U.S. House in May 2008.
    Senate Committee Staff Releases Cost Basis Reporting Legislation Proposal, Jun_ 2007
    (Published June 11, 2007) On May 25, 2007, the staff of the Senate Finance Committee released its own cost basis reporting proposal making it the 4th version of a cost basis proposal. One version would ultimately be adopted if a cost basis reporting proposal is made law and it is uncertain whether and to what extent such legislation would include various components of the four existing proposals. The staff has solicited public comment on its proposal no later than June 30, 2007.
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