Chicago Chapter Seminars Cover International Issues, Research Credit
The Chicago Chapter has continued to expand its technical presentations with special half-day seminars in addition to monthly meetings. This format allows the chapter to experiment with meeting sites throughout the Chicagoland area to accommodate as many members as possible.
In March, Jim Forhan, Stan Wiseberg, Saul Caisman, Peter Simpson, Rodney Lawrence, and Suzan Campbell from KPMG led a half-day seminar dedicated to international issues. The International Tax Committee, co-chaired by Ray Barbosa and Tony Verdino, and the KPMG representatives led an informative session that included an update on current international matters such as corporate tax shelters, foreign partnership reporting requirements, ACM, and other topics. The second half of the program focused on international joint ventures, negotiation, control, due diligence, formation, ongoing operations, and exit strategies.
In April, the meeting focused on research credits. The first half of the technical session was a presentation by Janet Wong, National Director of Technical Tax Services with KPMG in Washington, D.C. Dan Rahill and Christine Kachinsky of the Chicago office joined her. After their presentation, Tom Blythe, Paul Schaffhausen, Sheldon Kimel, and John Mann led a chapter roundtable discussion of recent audit issues with the IRS that started with the research credit and expanded into other areas. Some members commented that they had experienced arbitrary percentage disallowances of the research credit after extremely detailed IDR requests could not be fulfilled. An example of a detailed IDR that was difficult to fulfill was a request for all engineering or scientific notes on a project.
May was the chapter’s traditional State Tax Night. The chapter was addressed by the newly appointed Illinois Director of Revenue, Glen Bower. Joining Mr. Bower in addressing the chapter were Tim Bramlet, President of the Taxpayers Federation of Illinois, and Dave Nowak, Audit Manager with the State of Ohio. The group discussed the latest developments in legislation, regulations, audits, and tax policy.
In June, the chapter’s Annual Meeting was held on the cruise ship Odyssey. Despite a torrential downpour prior to departure almost 100 members and their guests made it on time. After the ship departed Navy Pier, the weather cleared for an enjoyable dinner and cruise of the Chicago lakefront. The chapter acknowledged the leadership that outgoing president Kurt Meier had provided during fiscal year 1998-1999 with special awards. Also, a special thanks was extended to the officers, board members, and committee chairs for their efforts during the year.
COPYRIGHT 1999 Tax Executives Institute, Inc.
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