2:30PM - 5:30PM
Tax Accounting
Chair: Jody Brewster, Skadden Arps Slate Meagher & Flom LLP, Washington, DC

2:30pm                 Recent Developments in the Area of Tax Accounting.  This program
                               will cover important recent developments in the tax accounting area since 
                               the 2006  May Meeting, with commentary and input from our Government
                               guests. Moderator:  Emily Lam, Skadden Arps Slate Meagher & Flom LLP,
                               Washington, DC. Panelists:  Lewis Fernandez, Associate Chief Counsel
                               (Income Tax & Accounting), IRS, Washington, DC; Kimberly Koch, Special
                               Counsel to the Associate Chief Counsel  (Income Tax & Accounting), IRS,
                               Washington, DC; Sharon Kay, Taxation  Specialist, Office of Tax Legislative
                               Counsel, Department of Treasury, Washington, DC; James Atkinson,
                               Winston & Strawn LLP, Washington, DC.

3:30pm                 Capitalization of Costs for Tangible Property.  This program will discuss
                               the recently-issued proposed regulations concerning capitalization of costs
                               for tangible assets. The proposed regulations address a number of issues
                               including: the definition of a unit of property; the determination of
                               whether costs add to the value or substantially prolong the useful life of
                               property; the plan of rehabilitation doctrine; minimum capitalization
                               thresholds; and repair allowances.  Moderator: Helen Hubbard, Baker
                               & McKenzie LLP, Washington, DC.  Panelists:  Kenneth Gideon, Skadden
                               Arps Slate Meagher & Flom LLP, Washington, DC; Lewis Fernandez,
                               Associate Chief Counsel  (Income Tax & Accounting), IRS, Washington,
                               DC; Kimberly Koch, Special Counsel to the Associate Chief Counsel
                               (Income Tax & Accounting), IRS, Washington, DC; Sharon Kay, Taxation
                               Specialist, Office of Tax Legislative Counsel, Department of Treasury,
                               Washington, DC.

4:30pm                 The Manufacturing Deduction: A Look at the Final 
                               Regulations Under I.R.C. § 199.  This panel will discuss 
                       the final section 199 regulation, the additional guidance 
                       that has been issued since the 2006 May Meeting, and yet-to-come.
                       The discussion will focus on lessons learned from the first
                       year of implementation, documentation requirements, and 
                       issues going forward.  Moderator: Ellen MacNeil, Deloitte
                       Tax LLP, Washington, DC.  Panelists: Carol Conjura, KPMG
                       LLP, Washington, DC; Heather Maloy, Skadden Arps Slate Meagher &
                       Flom LLP, Washington, DC; George Manousos, 
                       PricewaterhouseCoopers LLP, Washington, DC