Region VII Conference breaks all records: CPE, Beach, and Networking in Hilton Head, South Carolina.

• Author: Rasmussen, Jeffery P.

A record number of people attended TEI's Region VII Conference this June, which was once again held in Hilton Head Island, South Carolina. Region VII Vice President Owen T. Autry of the Nashville Chapter and the conference organizer, Mitchell S. Trager of the Atlanta Chapter, welcomed nearly 350 members, business guests, sponsors, spouses, and children to the 2012 Region VII Conference. In opening the conference, Mr. Autry said the 2012 attendance represented an all-time high for the southeastern U.S. regional conference.

Held from June 27 to July 1, 2012, the Region VIII Conference featured technical presentations on a wide array of topics, including an update on the prospects for federal tax legislation and tax reform, the ethical obligations of in-house tax professionals under Circular 230, a state tax roundtable, significant corporate transactions, accounting for income taxes, working with the "tangibles" regulations, international tax developments, executive compensation, and preparing for tax litigation. In addition, the conference was abuzz about the Supreme Court's decision on the constitutionality of the Patient Protection and Affordable Care Act, which was handed down on the first day of the conference. Several presenters provided on-the-fly, insightful updates to previously prepared materials.

IRS Chief Counsel William Wilkins and former TEI Executive Director Michael Murphy (now of Sutherland Asbill & Brennan) provided an update on key developments shaping tax administration. During his remarks, Mr. Wilkins said that administration of the PPACA and the Foreign Account Tax Compliance Act (FACTA) will require the IRS to develop and improve its information technology capabilities. While neither law is effective yet, he explained, the implementation and testing of the IT systems to administer both provisions compels acceleration of guidance.

He added that the IRS is making progress on a number of guidance...