Working in tandem.

• Author: Wilson, Betty M.
• Position: Tax Executives Institute - President's Page

One of the final Olympic events this year was the men's marathon, the grueling nature of which was accentuated by blustery headwinds in Sydney that at some spots seemed to push the runners from one side of the course to the other. Remarkably, 81 of the 100 athletes persevered and finished the 26 mile-plus course.

Tax executives know a little bit about the unyielding nature of marathons. For many businesses, the finish line is September 15, the extended due date for calendar-year taxpayers to file their tax returns. But unlike marathoners, tax executives barely get an opportunity to relax before they face new deadlines and challenges. After the federal deadline comes and goes, state deadlines loom, and there is never an end to the research, planning, and compliance activities that keep our lives busy and full. And, of course, so far, I've only mentioned work. We also have family obligations and our volunteer activities -- including TEI -- to consider.

The only way we can do all that we do is to enlist the help of our colleagues and our friends. Thus, just like in a marathon, where runners often trade the lead to take turns facing the wind (and shielding their fellow runners), tax executives must work in tandem, trading off the harder tasks, in order to accomplish their goals. During the past two months, I have had the privilege of representing TEI in several meetings with government representatives, but as my predecessors as President have said (and I have quickly learned), this is not about me. It's about the organization, and how collectively we can advance TEI's goals. Accordingly, I want to devote this column to highlighting the recent contributions of other TEI members.

Meetings with LMSB Officials

Much of the activity since I became President concerns the Internal Revenue Service's Large and Mid-Size Business Division. TEI has enjoyed an unprecedented opportunity to provide early and frequent comments to LMSB on a whole range of subjects. For example, in late August, I was pleased to join three other TEI members -- Dave Bernard of the Northeast Wisconsin Chapter, Dan Leightman of the Houston Chapter, and Judy Zelisko of the Chicago Chapter -- and members of TEI's staff in meeting with the representatives of the IRS's new Office of Tax Shelter Analysis. (The IRS group was led by Dave Harris, the head of the OTSA, and included John Petrella, who has spearheaded the IRS's pre-filing agreement initiative.) The free-flowing meeting covered...