TEI-Internal Revenue Service liaison meeting.

• Position: Tax Executives Institute

On February 19, 2008, a delegation from Tax Executives Institute met with Linda E. Stiff, acting Commissioner of Internal Revenue, and other senior officials of the Internal Revenue Service. The following minutes were prepared by Tax Executives Institute and, although reviewed by the Internal Revenue Service, they have not been formally approved by the agency. Stiff welcomed TEI President Robert Acting IRS Commissioner Linda E.

J. McDonough and the TEI delegation. She underscored the importance of liaison meetings to facilitate open discussion on issues of common interest. On behalf of TEI, Mr. McDonough expressed the Institute's thanks to the Commissioner for the IRS's ongoing commitment to active dialogue. The IRS and TEI delegations are set forth below.

IRS Delegation

Linda E. Stiff, Acting Commissioner of Internal Revenue

Richard Spires, Deputy Commissioner (Operations Support)

Donald L. Korb, Chief Counsel, Internal Revenue Service

Sarah Hall Ingram, Chief, Appeals

Frank Y. Ng, LMSB Commissioner

Paul DeNard, LMSB Deputy Commissioner (Operations)--Designee

Bruce B. Ungar, LMSB Deputy Commissioner (Operations)

Barry B. Shott, LMSB Deputy Commissioner (International)

Donald McPartland, Director, Research & Workload Identification (LMSB)

Stephen Whitlock, Director, Whistleblower Office

Michael Chesman, Director, Office of Professional Responsibility

Caryl Grant, IRPAC Program Manager, National Public Liaison

Frank Keith, Chief, Communications & Liaison

Candice V. Cromling, Director, Office of National Public Liaison

Rosemary Sereti, Acting Executive Assistant (Operations) (LMSB)

Kathryn L. Gregg, Manager, Communications (Communications & Liaison)

Cynthia Vanderpool, Chief, Stakeholder Relations, National Public Liaison

TEI Delegation

Robert J. McDonough, Polaroid Corporation, TEI President

Vincent Alicandri, Hydro One Networks Inc., TEI Senior Vice President

Neil D. Traubenberg, Sun Microsystems, Inc., TEI Secretary

Paul O'Connor, Millipore Corp., TEI Treasurer

Kelly A. Nall, Electronic Data Systems Corp., TEI Executive Committee

Janice L. Lucchesi, Akzo Nobel Inc., TEI Executive Committee

Michael J. Nesbitt, Paychex, Inc., TEI Executive Committee

Nanci S. Palmintere, Intel Corporation, TEI Executive Committee

Monika M. Sigmund, Shell Canada Limited, TEI Executive Committee

Mark C. Silbiger, The Lubrizol Corporation, TEI Executive Committee

Terilea J. Wielenga, Allergan, Inc., Chair, TEI Financial Reporting Committee

Carita R. Twinem, Briggs & Stratton Corporation, Chair, TEI Federal Tax Committee

Christopher T. Riley, Archer Daniels Midland Co., Chair, TEI IRS Administrative Affairs Committee

Timothy J. McCormally, TEI Executive Director

Eli J. Dicker, TEI Chief Tax Counsel Mary L. Fahey, TEI General Counsel

Shirley S. Grimmett, TEI Tax Counsel

Jeffrey P. Rasmussen, TEI Tax Counsel

Opening Comments

Acting Commissioner Stiff reported on the following IRS priorities: the AMT patch implementation (effective as of February 11), the 2008 filing season (underway with only minor hitches to date), and implementation of the economic stimulus legislation (payments slated to commence in early May). In addition, she noted the volume of pending guidance within the Office of Chief Counsel and highlighted the new leadership in both LMSB (Frank Ng, Paul DeNard, and Barry Shott) and Appeals (Kurt Meier, a former TEI member who has been named Deputy Chief).

A. Transparency-Related Issues. Commissioner Stiff stated the IRS is developing strategies for effectively utilizing financial reporting information in the course of its examinations. In addition, significant emphasis will be placed on international issues, especially in light of the pace of globalization. The Commissioner also reported that the IRS will host a summit with taxpayers and other stakeholders to explore what the tax return of the future might look like. The agenda for and timing of the summit remain uncertain.

B. Industry Issue Focus Program. Commissioner Stiff acknowledged that...