JOINT SECTION BREAKFAST / PLENARY SESSION

The Joint Section Breakfast/Plenary Session will take place on Friday, September 28th at 7:30am at the Hyatt Regency Vancouver.

TOPIC: Tackling the Tax Gap—What Will That Mean to Your Practice?

The difference between what taxes are owed and what is actually paid in this country is estimated to be as high as $350 billion. Congress, the Department of Treasury, the IRS and other federal agencies have been working on alternative approaches to closing the tax gap. What will the various options mean to practitioners? The discussion will focus on several of the proposals that were presented at the recent National Conference on the Tax Gap, co-sponsored by the Tax Section and the AICPA, ATPI, TEI and ACTC. Among the options are: expanding third-party information reporting to include debt and credit card reimbursements to merchants and certain government payments for property and services; requiring brokers and other financial institutions to report 1099 information to the government and

taxpayers; increasing and expanding IRS audit functions; and relying on taxpayers to report transactions in the cash economy, with possible rewards for doing so.

MODERATOR: Pamela F. Olson, Skadden Arps Slate Meagher & Flom LLP,Washington, DC.

PANELISTS:  Eric Solomon, Assistant Secretary (Tax Policy), Department of Treasury, Washington, DC; Lawrence B. Gibbs, Miller & Chevalier Chartered, Washington, DC

Sponsored by: Blakes, Cassels & Graydon LLP