Year end - a time to reflect, and look forward.

• Author: Bernard, David L.
• Position: Reviewing Tax Executives Institute accomplishments - President's page

My last column was written on the eve of the Annual Conference in Scottsdale, and there has been a whirlwind of activity affecting TEI and tax executives since then. From the conference to three successful seminars, the Institute has maintained its tradition of providing in-house tax professionals with topnotch educational programs. Similarly, we've published comments on the accession of additional countries into the European Union, the shape of Canadian budget legislation, IRS regulations on cost-sharing, and a survey on the "environment" in which LMSB taxpayers and the IRS interact. Add in the successful liaison meetings with the Canadian government, and we have demonstrated--once again--that TEI is second to none in providing timely, practical, and constructive feedback to governmental authorities.

Beyond the Institute and its activities, tax executives have had to take the measure of court decisions potentially altering the law of nexus in the United States, grapple with the implications of FIN 48 (not only on their companies' financial statements but on their state, federal, and international tax audits), and--last but not least--prepare to deal with how the midterm elections in the United States will affect the tenor, tone, and content of future tax legislation, including most notably impending tax reform proposals.

Given the whirl of activity--perhaps in particular the challenging if not anxiety-causing effect of FIN 48's implementation--tax executives might be forgiven for not pausing to take the customary year-end look back and look forward. That said, I believe there is benefit in briefly reviewing both the accomplishments of the last few weeks and some of the challenges and opportunities that lie ahead.

Scottsdale Conference, Fall Seminars Demonstrate That TEI Remains First in Class

TEI members attending the 61st Annual Conference in late October not only were able to enjoy Arizona's hospitable weather but to address a raft of technical tax topics that--in all candor--reflect a tax environment that is anything but hospitable. At the same time, they were able to connect with colleagues from around the world and to leave Scottsdale better prepared to address the challenges that confront the 21st century tax department. A full report on the conference is included in this issue, but I want to take this opportunity to thank our three keynote speakers--IRS Commissioner Mark Everson, IRS Chief Counsel Donald Korb, and Harley Duncan of...