Breakfast Sponsored by Bennett Thrasher PC

NAVIGATING NEW (AND OLD) RULES FOR CHANGING ACCOUNTING METHODS: PRACTICAL SOLUTIONS TO COMMON PROBLEMS – A summary of new procedural requirements for making method changes. Identifying common problems (e.g., desire for nontraditional terms and conditions; inability to compute § 481 adjustment at time request is filed; not sure if a change is an "accounting method change" or subject to the automatic or advance consent procedures; risk of triggering an audit or highlighting audit issues) and practical solutions to these problems.

Jody J. Brewster, Skadden, Arps, Slate, Meagher & Flom LLP, Washington, DC

THE PAYROLL TAX AND FRINGE BENEFIT AUDIT TSUNAMI – An update on the first wave of IDRs in the IRS’s promised audits of 6,000 employers, covering fringe benefits, employment taxes, and executive compensation. This session will focus on the latest worker classification, reporting, and payroll tax issues affecting taxpayers, including legislation affecting worker classification, PEOs and co-employment arrangements, the IRS’s “Questionable Employment Tax Practice” initiative, regulations and other new guidance governing assessments, refunds, and corrections of previously-filed employment tax returns, developments in the fringe benefit and business expense areas, and other issues being raised by the IRS and Congress that affect employment tax liabilities.

Mary B. (“Handy”) Hevener, Morgan, Lewis & Bockius LLP, Washington, DC

Break

GOTCHA! WHY IT PAYS TO BE PROACTIVE IN CORRECTING FAILURES IN QUALIFIED PLANS – What do you do when a client’s retirement plan falls out of compliance? How can you re-qualify the plan? Find out the ins and outs of dealing with all too prevalent mistakes that happen both in the administration and the documentation of retirement plans, including qualified plans and SEPs, as well as SIMPLEs. Learn when and how to self correct some of the more common failures. Know when an error requires and can obtain IRS review and approval. Feel confident when dealing with a missed 5500 filing while avoiding thousands of dollars in penalties. What to do about late 401(k) deposits. This presentation will discuss these and other correction issues.

Pamela D. Perdue, Summers Compton Wells PC, St. Louis, MO

Mid-day Program: How to Select the Right Charitable Donee – The presenters will review the advantages and disadvantages of charitable donees, including private foundations, supporting organizations, and donor advised funds.

Sponsored by Fidelity Charitable Services and McGuireWoods LLP and presented by Karla D´Alleva Valas, Vice President and Chief Compliance Officer – Fidelity Charitable Services and Michele A. W. McKinnon, Partner – McGuireWoods LLP.

OX IS IN THE DITCH – So the client didn't call you before entering into the transaction? Called you first but then ignored your sagacious advice? In the real world, clients often call you after they've made the mistake. Or the client may make the mistake by acting contrary to your advice. This panel will explore the risks created by uncooperative clients and how to handle problems after the client has created them. (1 hour of ethics and professionalism)

Charles A Pulaski, Jr., Snell & Wilmer L.L.P., Phoenix, AZ
Robert R Harris, CPA/CFF, Managing Director, Harris Cotherman Jones Price & Associates, CPAs Chtd. and AICPA Chairman, Vero Beach, FL

PROCEDURE, PENALTIES AND PRACTICAL PROBLEMS – Practitioners are confronted with an ever–expanding list of procedural problems and/or opportunities ranging from limitations, through burden of proof, to the recent IRS announcement of new reporting of uncertain tax positions. Moreover, minefields exist, including new regulations that impact cases in process, a variety of taxpayer penalties in many more cases, threatened assertion of preparer penalties under §6694 and Circular 230 (sometimes without resort to the reasonable cause defenses in §6664), stronger coordination with IRS National Office and issue "champions," and privilege concerns. Dealing – or failing to deal – with these and other new hurdles raises serious ethical and professional implications. This program focuses upon the practical knowledge every accountant and lawyer needs within reach in handling every audit, Appeals conference, and docketed case. (1 hour of ethics and professionalism)

Michelle M. Henkel, Alston & Bird LLP, Atlanta, GA
Fred F. Murray, Grant Thornton LLP, Washington, DC

Break sponsored by CFS CONSULTING, INC.

LESSONS LEARNED FROM PAST AND ANTICIPATED REFERRALS TO THE OFFICE OF PROFESSIONAL RESPONSIBILITY – When, why, and who refers cases to the Office of Professional Responsibility? Better yet, once someone refers your partner or your friend, what is the best way of handling the problem – whether it comes from a partisan view of aggressive planning, or delinquent returns, or offshore client accounts a preparer fails to disclose, or what your friend thought was just a de minimis preparer penalty? (1 hour of ethics and professionalism)

Karen Hawkins, Director, IRS Office of Professional Responsibility, Washington, DC
Robert S. Fink, Kostelanetz & Fink, New York, NY

ETHICAL AND PROFESSIONALISM CONCERNS IN DEALING WITH FOREIGN BANK ACCOUNTS – Now that the last, last, last chance initiative has long passed, what do you do about those wayward souls who – for a host of different reasons – failed to disclose their interests in offshore accounts? If the IRS has identified them, how do you defend them, and, if not, how do you prepare a truthful return without incriminating them as to their past false statements or omissions relating to the foreign account? And, in light of recent legislation, Justice Department prosecutions, and required disclosures in the post-UBS world, what steps must you take to ensure that their problem does not become your problem? (1 hour of ethics and professionalism)

Martin R. Press, Gunster, Yoakley & Stewart, P.A., Ft. Lauderdale, FL
Charles P. Rettig, Hochman, Salkin, Rettig, Toscher & Perez, P.C., Los Angeles, CA

Exhibitors´ Cocktail Hour