57th Annual Conference October 20-23, 2002 * Sheraton Centre Toronto: celebrate Toronto and TEI's tradition of excellence.

Dear Colleague:

What city is home to more than 80 ethnically diverse communities from Asia, Africa and Europe, boasts four professional sports teams, and is the site of the preeminent tax organization's annual conference? If you answered "Toronto," you are well on your way to enjoying one of the tax community's premiere educational experiences.

The tax world has changed considerably since Tax Executives Institute's 2001 Annual Conference in Boston. From Enron to loss disallowance to tax shelters to inversions to a shake-up in the Canadian Department of Finance, much of what was once up is now down and what was once down (the North American economy) is climbing its way up. The combination, plus a foreign exchange rate that offers U.S. visitors to Canada almost unreal bargains, makes your attendance at the Institute's 2002 Annual Conference especially compelling.

TEI's 57th Annual Conference will convene in October in the modern city founded in 1793. The area where the Mississaugas and Senecas once roamed is now home to a bustling metropolis of almost 650,000 people. This fall, it will also be the temporary home of TEI members and their guests. Make your plans now for the three-day program, which will begin Sunday evening, October 20, at the Sheraton Centre Toronto.

Explore the sights of Canada's largest city. Because TEI's technical sessions will not start until Monday morning, October 21, you may choose to spend the weekend at home. Or, taking advantage of bargain airfares, you may wish to explore the Toronto Zoo, visit the SkyDome or the 1,815-foot CN Tower, or enjoy Toronto's other attractions, including its vibrant theater district.

Catch up on Canadian tax developments. Given the Canadian locale, TEI has added a third track of concurrent sessions of interest to Canadian members and others whose companies have significant operations north of the 49th parallel. Among the cross-border issues covered will be investment strategies and tax-deferred reorganizations. Transfer pricing and recent case developments will also command attention, as will an update on GST cross-border and customs issues. In addition, there will be a joint session on commodity and state and local tax issues, and another on treaty and competent authority issues featuring TEI members, U.S. and Canadian practitioners, and both the U.S. and Canadian competent authorities. If your company is located or does business in Canada--or is contemplating doing business there--this conference is for you.

Learn the latest information on tax shelters and GAAR. There remains a great deal of uncertainty over whether--or when--tax shelter legislation will be enacted in the United States. Even in the absence of congressional actions, taxpayers must cope with new regulations, administrative procedures, and IRS enforcement activities. In Canada, taxpayers (and the courts) continue to grapple with the statutory general anti-avoidance rule. For this reason, we have reserved a session on Tuesday morning to provide up-to-the-minute information about the hottest topic north and south of the border.

Other highlights of this year's conference include:

Keynote speakers. We are delighted that Pamela Olson, Acting Assistant Secretary of the Treasury, and IRS Commissioner Charles Rossotti will deliver keynote speeches. Our third keynoter will likely be a senior Canadian tax official.

IRS Administrative Affairs. The three "e"s of record retention--Enron, e-mail, and examinations--will be the subject of a panel discussion of members and practitioners. Another session will focus on an array of hot topics, including penalties, LMSB post-filing initiatives, and Circular 230. A high point of the conference will be a panel of former IRS Commissioners--Don Alexander, Larry Gibbs, and Fred Goldberg--who will discuss the successes and failures of the IRS modernization.

Federal. Conference registrants will have a wealth of federal tax sessions to attend, with a discussion of the loss disallowance rules being at the top of the list, along with high-powered sessions on Subchapter C and due diligence reviews. A session on benefits will focus on deferred compensation, stock options, and life insurance (among other things). Finally, a session on tax accounting developments will cover not only the latest accounting method revenue procedures, but recent cases and tax accounting issues "ripped from the headlines."

International. Our international sessions will also be top drawer, with presentations on recent developments, inversions, and EU tax matters, as well as a session provocatively titled Ten Easy Ways to Lose 20 Percent of Your Gross Revenues.

State and Local. Our state and local sessions are still being developed, but preliminary plans call for an update session with knowledgeable and high-energy practitioners, a panel discussion (featuring several TEI members) on state income tax modifications, and the latest on E-commerce, SSTP, and other developments.

In...