Implement Efficient Processes and Procedures
for More Effective Compliance
CD of Teleconference with Q&A
Conducted on Thursday, August 21, 2008
Now available on CD
Accounting Teleconference Advisory Board
Nearly two years after the issuance of FASB’s Interpretation 48, better known as FIN 48, compliance still poses a challenge for companies and their outside accountants. What are the key strategies for keeping income tax accounting and compliance on track while surmounting the FIN 48 learning curve?
FIN 48 compels assigning a dollar figure to uncertain tax positions taken on federal and state income tax returns, if the preparer thinks those positions “more likely than not” will be upheld. There are many paths to reach that conclusion, which only adds to the complexity.
Familiarity with the terms of FIN 48 is not the same as mastering the practical changes forced on corporate taxpayers and their accounting firms. For example, developing a terse but on-point FIN 48 paragraph for a financial statement still baffles many preparers.
Listen as our panel of experienced corporate tax, finance, and accounting firm professionals shares their hard-won insights and experiences with FIN 48 compliance.
The panel included:
Sheryl Vander Baan, Tax Executive, Financial Services Practice, Crowe Chizek, Grand Rapids, Mich. She has more than 20 years of tax experience and is one of the firm's in-house authorities on FIN 48. She leads the firm's National Tax Office for financial institution clients.
Rich Beauvais, Director of Tax Defense and Advocacy, Kimberly-Clark Corp., Appleton, Wis. He directs the company's federal, state and operational audits and oversees its financial statement tax reserves. He has been with Kimberly-Clark for 17 years, previously working as Director of Tax Reporting and International Tax Manager.
Robert Loray, Director of Tax Controversy Research and Planning, United Parcel Service of America Inc., Atlanta. He has spent eight years with UPS, after working for KPMG for two years as a Senior Manager for tax controversy and a dozen years with the IRS, ending as a Senior Team Coordinator.
The panel explains and prepares you to react to these and other key issues:
- Determining a realistic time commitment of tax staff and management to FIN 48 compliance.
- Establishing an internal system to gather data that supports the FIN 48 definition of “tax position.”
- Dealing with IRS access to tax work papers, including accrual papers.
- Setting tax reserves — how much is too much or too little?
TELECONFERENCE CD
Purchase a CD-ROM of the full conference proceedings, including Q&A and PDF files of all handouts (available 10 days after the program).
- Regular Price - $247 (plus $9.45 S&H)
- With Teleconference Registration – an additional $75 (plus $9.45 S&H)
Self-study CPE is not offered on CD purchases.