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Appendix: 2003-2004 technical activities.

Listed below are the written submissions that Tax Executives Institute filed with government agencies and congressional committees during the period ended August 8, 2004. Also included are liaison meetings and other technical activities in which the Institute participated.

Liaison Meetings

* Liaison meetings with Canadian Department of Finance (separate meetings held on Income and Excise/Commodity Tax Issues) (12/3/03).

* Liaison meetings with Canada Customs and Revenue Agency (separate meetings held on Income and Excise/Commodity Tax Issues) (12/2/03).

* Liaison Meeting with Commissioner of Internal Revenue and Other Senior IRS Officials (2/4/04).

* Liaison Meeting with Officials of the IRS Large and Mid-Size Business Division (2/3/04).

* Liaison Meeting with Assistant Secretary of the Treasury for Tax Policy and Other Representatives of the Office of Tax Policy, U.S. Department of Treasury (2/4/04).

* Liaison Meeting with Chief of Staff of the Joint Committee on Taxation, and Other Representatives of the

Congressional

Tax-Writing Committees (2/4/04).

Congressional

* Corporate Tax Shelters and Corporate Accountability:

* Comments on codification of the economic substance doctrine and tax shelter penalty provisions, filed with the Senate Committee on Finance, House Committee on Ways and Means, and the U.S. Department of the Treasury (8/5/03).

* Comments on the requirement for a CEO to sign a corporate tax return, codification of the economic substance doctrine, tax shelter penalty proposals, and other provisions of S. 1637, the JOBS Act of 2003, and H.R. 2896, the American Jobs Creation Act of 2003, filed with the Senate Committee on Finance, and the House Committee on Ways and Means (3/10/04).

* Additional comments on S. 1637, filed with the House Committee on Ways and Means (6/3/04).

* Additional comments on S. 1637 and H.R. 4520, filed with the House Committee on Ways and Means and the Senate Committee on finance (7/13/04).

* Letter on S. 150, The Internet Tax Non-Discrimination Act, filed with Senate Committee on Commerce, Science, and Transportation (9/30/03).

* IRS Oversight Board:

* Written testimony filed with the Board (1/16/04).

* Testimony before the Board (1/26/03).

* Joint comments (with ABA and AICPA) on Bush Administration's fiscal year 2005 budget proposals and tax simplification, filed with Secretary of the Treasury (2/24/04).

* IRS Budget:

* Testimony on the IRS budget for fiscal year 2005 before the Subcommittee on Oversight of the House Committee on Ways and Means(3/30/04). * Written comments on the IRS budget, filed with the House and Senate Committees on Appropriations (4/6/04).

Canadian Taxes

* Pre-Budget Discussions:

* Written statement, filed with House of Commons Standing Committee on Finance (9/8/03).

* Testimony before the House of Commons Standing Committee on Finance (9/30/03).

* Letter on proposed delay in the reduction of the Quebec capital tax burden, filed with Quebec Minister of Finance (11/21/03) (Montreal Chapter).

* Affidavit in Support of Potash Corporation of Saskatchewan Inc.'s Motion for Leave to Appeal to the Supreme Court of Canada (2/6/2004).

* Letter on intent to rollback corporate income taxes to 2001 levels, filed with Ontario Minister of Finance (11/24/03) (Toronto Chapter).

* Written statement, filed with the Ontario Standing Committee on Finance and Economic Affairs (2/11/04).

* Testimony before the Ontario Standing Committee on Finance and Economic Affairs (2/11/04).

* Comments on Draft Legislation relating to the deductibility of interest and other expenses, filed with the Canadian Department of Finance (3/5/04).

* Comments on Term Preference Share regime, filed with the Canadian Department of Finance (3/11/04).

European Taxes

* Definition of Permanent Establishment

* Comments on the definition of permanent establishment, filed with the Organisation for Economic Cooperation and Development (10/17/03).

* Follow-up comments on proposed clarifications in the Commentary to the OECD Model Tax Convention on the definition of permanent establishment, filed with the OECD Working Party No. 1 on Tax Conventions and Related Questions (6/7/04).

* Transitional arrangements for intra-EC supplies to VAT-registered customers in Acceding Countries * Letter to European Commission (3/1/04).

* Follow-up Letter to European Commission (4/8/04).

* Comments on IAS 12, Deferred Tax Accounting for Intercompany Profits in Inventory, filed with the International Accounting Standards Board (7/27/04).

Federal Tax Committee

* Tax Shelter Disclosure Regulations:

* Comments on the disclosure of confidential transactions under the reportable transaction regulations, filed with the U.S. Department of Treasury and Internal Revenue Service (8/8/03).

* Form 1120, Schedule M-3:

* Meetings with representatives of the IRS Large and Mid-Size Business Division and the U.S. Department of Treasury (11/19/03, 1/23/04, and 3/4/04).

* Comments on Announcement 2004-14 and Proposed Schedule M-3, Net Income (Loss) Reconciliation for Corporations with Total Assets of $10 Million or More, filed with IRS Large and Mid-Size Business Division (6/7/04).

* Letter on final Schedule M-3, filed with Acting Assistant Secretary of the Treasury for Tax Policy and LMSB Commissioner (7/21/04).

* Rev. Proc. 98-25

* Conference call with IRS Senior Industry Adviser for Retailers, Food, Pharmaceuticals and Healthcare Industry, concerning revenue procedure (7/22/03).

* Meeting with IRS representatives to discuss approach to records retention issues (3/3/04).

* Comments on a proposed LMSB initiative on record retention agreements, filed with Program Manager, CAS, for the IRS Large and Midsize Business Division (4/8/04).

* Conference call with IRS representatives concerning the need for record retention agreements for machine-sensible files (6/2/04).

* Conference call with Financial Accounting Standards Board to discuss the exceptions to APB 23 (6/25/04).

* Follow-up call with FASB (7/8/04).

International Tax Committee

* Meeting with representatives of the IRS Office of Chief Counsel on section 861 regulations relating to the book/tax method of allocating interest expense (7/25/03).

* Proposed Section 482 Services Regulations:

* Written comments ,filed with the U.S. Department of Treasury and Internal Revenue Service (12/22/03).

* Testimony at IRS hearing (1/14/04).

* Letter on the development of a per se list of low-margin and non-integral services that should qualify for a cost safe harbor under the section 482 services regulations, filed with Treasury Department's International Tax Counsel (7/2/04).

* Meeting with representatives of the U.S. Department of Treasury and IRS Office of Chief Counsel on section 987 regulations relating to the determination of taxable income of branches (3/1/04).

* Form 8858

* Comments on new Form 8858, Information Return of U.S. Persons With Respect to Foreign Disregarded Entities, filed with the Internal Revenue Service (3/2/04).

* Meeting with Treasury and IRS representatives to discuss the Institute's comments on the Form 8858 (5/6/04).

* Follow-up telephone call with IRS Office of Chief Counsel (5/26/04).

* Letter on the protocol to the Dutch treaty, filed with the Senate Foreign Relations Committee (7/15/04).

* Follow-up meeting with Committee staff (7/26/04).

IRS Administrative Affairs Committee

* Joint IRS-TEI Audit Planning Task Force:

* Taping of IRS training film on final task force report on streamlining the audit process, New Carrollton, Maryland (9/15-16/03).

* Publication of article in November-December 2003 issue of The Tax Executive.

* Tax Shelter Disclosure Regulations:

* Comments on the disclosure of confidential transactions under the reportable transaction regulations, filed with the U.S. Department of Treasury and Internal Revenue Service (8/8/03).

* Form 1120, Schedule M-3:

* Meetings with representatives of the IRS Large and Mid-Size Business Division and the U.S. Department of Treasury (11/19/03, 1/23/04, and 3/4/04).

* Comments on Announcement 2004-14 and Proposed Schedule M-3, Net Income (Loss) Reconciliation for Corporations with Total Assets of $10 Million or More, filed with IRS Large and Mid-Size Business Division (6/7/04).

* Letter on final Schedule M-3, filed with Acting Assistant Secretary of the Treasury for Tax Policy and LMSB Commissioner (7/21/04).

* Meeting with Tax Legislative Counsel and other Treasury and IRS representatives to discuss proposed revenue procedure on statistical sampling in respect of meals and entertainment expenses (7/2/03).

* Draft Revenue Procedure on Managing the Claims Process:

* Follow-up conference call with IRS Senior Industry Adviser for Retailers, Food, Pharmaceuticals and Healthcare Industry (7/15/03).

* Follow-up letter on proposed revenue procedure, filed with the Internal Revenue Service (10/15/03).

* Rev. Proc. 98-25:

* Conference call with IRS Senior Industry Adviser for Retailers, Food, Pharmaceuticals and Healthcare Industry, concerning revenue procedure (7/22/03).

* Meeting with IRS representatives t* discuss approach to records retention issues (3/3/04).

* Comments on a proposed LMSB initiative on record retention agreements, filed with Program Manager, CAS, for the IRS Large and Midsize Business Division (4/8/04).

* Conference call with IRS representatives concerning the need for record retention agreements for machine-sensible files (6/2/04).

* TEI-LMSB Financial Services Conference, New York, New York (9/22-23/03).

* IRS Breakthrough Initiative:

* Conference Call with Thomas W. Wilson, Jr., LMSB Industry Director, Communications, Technology & Media, and other IRS representatives to discuss IRS Breakthrough Team project (9/30/03).

* Participation in IRS Breakthrough Initiative meeting with LMSB Commissioner Deborah M. Nolan and Other LMSB Representatives (1/15/04).

* Comments on LMSB Productivity Improvement, Phase II: IDR, 5701, and 30-Day Letter Processes for Current Cases and Cycles, filed with LMSB Commissioner (5/7/04).

* Meeting with National Taxpayer Advocate (6/18/04).

* Miscellaneous Meetings and Projects

* Meeting with Natural Resources and Construction Industry Director and other LMSB representatives to discuss recent oil and gas industry issues, Houston, Texas (8/29/03).

* Conference Call with IRS representatives to discuss IRS's plans to move its interest calculation units to Ogden, Utah (11/6/03).

* Conference Call for TEI Board of Directors with IRS Commissioner Everson and Deputy Commissioner Matthews to IRS strategic plans and new audit initiatives (11/24/03).

* Participation of TEI members and staff in taping of LMSB Training Video on Effects of Sarbanes-Oxley Act on Tax Compliance and Administration (7/19/04).

State and Local Taxes Committee

* Comments on codification of the economic substance doctrine in California Legislation A.B. 1601 and S.B. 614, filed with the Senate Appropriations Committee and Assembly Committee on Appropriations (8/29/03).

* Comments on five legislative tax proposals, filed with the Commissioner of Revenue, Commonwealth of Virginia (9/23/ 03) (Virginia Chapter).

* Meeting with the Board of the Federation of Tax Administrators to discuss liaison between TEI and FTA, Baltimore, Maryland (10/2/03).

* Comments on draft Pennsylvania Personal Income Tax Bulletins 2003-1 through 2003-5 on the proposed treatment of certain employee benefits, filed with the Pennsylvania Department of Revenue (12/19/03).

* Letter to the Multistate Tax Commission concerning outlining the Institute's concerns with aspects of MTC activities in respect of tax minimization by U.S. corporations (1/23/04).
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Title Annotation:2004 Annual Report
Publication:Tax Executive
Date:Sep 1, 2004
Words:1783
Previous Article:A message from the president.
Next Article:Tax Executives Institute, Inc. and TEI Education Fund: audited consolidated financial statements: June 30, 2004 and 2003: independent auditor's...


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