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| WEDNESDAY MORNING, SEPTEMBER 21, 2011 |
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| 7:00 |
Registration Desk Opens |
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| 7:30-8:30 |
Breakfast sponsored by BENNETT THRASHER PC |
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| 8:30-9:45 |
THE ACCOUNTING METHOD CHANGES: DEALING WITH THE NEW PARADIGM – This presentation explores the practical considerations underlying accounting method changes under the new paradigm, from the basic procedural rules to the most sophisticated planning considerations. We will focus on frequently overlooked or misunderstood pitfalls, minimizing audit risk, avoiding "naked" consent, obtaining IRS approval of common sense but technically prohibited methods, and getting the most out of accounting method changes (using the anticipated repair and maintenance regulations as a case study).
James L. Atkinson, KPMG LLP, Washington, DC |
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| 9:45-10:00 |
Break |
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| 10:00-11:00 |
CORRECTING 409A FAILURES IN NONQUALIFIED DEFERRED COMPENSATION – The failure of a nonqualified deferred compensation plan to comply with section 409A in form or operation can trigger significant income tax penalties in the form of current income inclusion and additional tax. This presentation will discuss methods of correcting 409A failures and reducing or eliminating these tax consequences. The presentation will discuss IRS-sanctioned correction programs, and in addition will explore the possibility of correcting failures outside of the formal IRS programs by using Treasury regulations and general doctrines of income receipt.
Rosina B. Barker, Ivins, Phillips & Barker, Chtrd., Washington, DC |
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| 11:00-12:00 |
MARCH OF THE 6000, NIGHTMARE ON A/P STREET, AND WHAT GOES AROUND COMES AROUND – This presentation will discuss recent fringe benefit and employment tax developments, including the comprehensive tax examinations of approximately 6,000 companies as part of the IRS National Research Program, the IRS renewed focus on accountable reimbursement plans, and rumblings on the worker classification front.
Marianna G. Dyson, Miller & Chevalier, Chtrd., Washington, DC |
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| 12:15 -1:05 |
Mid-day Program: Maximizing the Benefits of Donor Advised Funds – A donor advised fund can solve many clients´ problems, including being a low cost
alternative or complement to a private foundation, allowing a client to receive a large charitable deduction in one year but spreading the distributions to multiple charities over
several years, providing privacy for charitable gifts, and involving younger generations in the families’ charitable giving. The speakers will discuss the administration of donor
advised funds, the ability to contribute special assets to a donor advised fund, and the independent investment of a donor advised fund’s assets.
Sponsored by American
Endowment Foundation and McGuireWoods Nonprofit and Tax-Exempt Organizations Group and presented by Laura J. Malone and Dennis I. Belcher |
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WEDNESDAY AFTERNOON, SEPTEMBER 21, 2011 |
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| 1:15-2:00 |
HANDLING YOUR CLIENT´S QUESTIONS ABOUT SOCIAL SECURITY ELECTIONS – Although perhaps outside the province of tax advice, clients frequently ask their tax advisors for assistance in evaluating their options regarding social security benefits. This presentation will review the essential factors to be considered in this context as well as related planning opportunities.
Jim Caulder, Caulder & Associates, Columbia, SC |
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| 2:00-3:15 |
ETHICAL AND PROFESSIONALISM CONSIDERATIONS IN THE TAX CONTROVERSY SETTING – Everything is fine … until it isn´t! Duties and responsibilities of the tax professional often conflict with the anticipations of the client and the requests by the government for information and documents during the course of an examination. What are the "best practices" in the tax trenches? When are problems likely to occur for the professional? Is it too late to pursue a voluntary disclosure? How and when to explain "errors" in a return under examination? What constitutes an unreasonable request for information during an examination? How should you handle requests to
interview the taxpayer or the preparer? Should a privilege be asserted? Are there degrees of cooperation and diligence in representation? Is it a simple misunderstanding or is your client guilty? (1.25 hours of ethics and professionalism)
Charles P. Rettig, Hochman, Salkin, Rettig, Toscher & Perez, P.C., Los Angeles, CA |
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| 3:15-3:30 |
Break sponsored by CFS CONSULTING, INC. |
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| 3:30-4:45 |
PROTECTING YOUR CLIENTS, AND YOUR PRACTICE – This presentation will review the various types of tax opinions and the requirements for each, taking into consideration the obligations imposed by Circular 230. The presentation also will address return preparer penalty and those individuals who may be surprised to find that they are subject to it. (1.25 hours of ethics and professionalism)
David G. Glickman, Baker & McKenzie, LLP, Dallas, TX |
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| 4:45-5:30 |
PREPARER STANDARDS AND RELATED CONSIDERATIONS CONCERNING ERRORS AND OMISSIONS – Changes in preparer penalty standards, Circular 230, and Schedule UTP have triggered increased scrutiny of uncertain tax positions. This can lead to the discovery of errors or omissions in prior year returns. Circular 230 and AICPA standards impose specific obligations on tax practitioners (both return preparers and tax advisors) that may warrant the reexamination of positions taken on earlier year returns. This session will analyze both the ethical obligations and practical considerations in addressing errors and omissions. (.75 hour of ethics and professionalism)
Peter S. Wilson, RSM McGladrey, Inc., Chapel Hill, NC |
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| 5:30-6:30 |
Exhibitor´s Cocktail Hour |
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