TEI campaigns against counterproductive measures in pending tax bill; also comments on Schedule M-3, [section] 482 per se list; launches new website.

• Position: Recent Activities

This issue of The Tax Executive is late, so not all the activities in this "Recent Activities" story are all that recent. And while the reasons for the delay are many, a primary cause was the diversion of time, resources, and personnel to help design, test, and launch a new website for the Institute. "We apologize to TEI members and other readers of the magazine for the delayed publication, but our decision earlier this summer to postpone the launch of the website, in order to more fully take into account member feedback, has had a ripple effect throughout the organization," explained TEI Executive Director Timothy McCormally.

"The launch of the site at the end of August, of course, is not the end of the process, but we are confident that the new website--which is more fully integrated with the Institute's print publications than its predecessors --will actually enhance our ability to keep members up to date. For example, submissions, articles, and other news--from the chapters as well as the Institute--will now be available to the members on a real-time basis, simply by going to www.tei.org.

"We appreciate the patience of the membership as TEI's new website strategy was being designed and implemented," Mr. McCormally concluded. "We invite everyone's feedback on how we can improve the site to better advance the Institute's mission." For more on the website, please see this issue's Less Taxing Matters column.

Advocacy and Education Remain Dominant

Work on TEI's website did not cause the Institute's technical committees to go on hiatus or extended recess, as some legislative bodies have been known to do during the summer months. Indeed, while officialdom fled Washington--the Democrats going to Boston and the Republicans to New York for their nominating conventions--TEI continued its campaign against the codification of the economic substance doctrine and the CEO signature requirement on Capitol Hill.

In its comments on the tax bill, TEI began by supporting efforts to enactment ETI-replacement legislation this year. Nevertheless, the Institute urged Congress to rethink several proposals, which it deemed counterproductive. Among the specific proposals that TEI said are ill-advised are:

* The "clarification" of the economic substance doctrine, which could potentially interfere with legitimate business transactions;

* The CEO declaration requirement, which would waste corporate resources without enhancing accountability;

* The "whistleblower" provision, which would outsource an inherently governmental function, i.e., the determination of tax, and possibly encourage the filing of mischievous or malicious claims against taxpayers;

*...