2:30pm             Recent Developments in the Area of Tax Accounting.  This program will cover important recent developments in the tax accounting area since the 2005 Joint Fall CLE Meeting in San Francisco, CA. Moderator:  Colleen O’Connor, Ernst & Young LLP, Washington, DC.  Panelists: Robert M. Brown, Associate Chief Counsel (Income Tax & Accounting), IRS, Washington, DC; George Manousos, Taxation Specialist, Office of Tax Legislative Counsel, Department of Treasury, Washington, DC; Sharon Kay, Taxation Specialist, Office of Tax Legislative Counsel, Department of Treasury, Washington, DC; Edward S. Cohen, Deputy Associate Chief Counsel (Income Tax & Accounting), IRS, Washington, DC; Dwight Mercereau, Miller & Chevalier Chartered, Washington, DC.

3:10pm             Capitalization of Costs for Tangible Property.   This program will discuss the proposed regulations concerning capitalization of costs for tangible assets, which are expected to be released before the May Meeting. The proposed regulations are expected to 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:  Robert M. Brown, Associate Chief Counsel (Income Tax & Accounting), IRS, Washington, DC; Sharon Kay, Taxation Specialist, Office of Tax Legislative Counsel, Department of  Treasury, Washington, DC; Kimberly L. Koch, Special Counsel to the Associate Chief Counsel (Income Tax & Accounting), IRS, Washington, DC; Kenneth Gideon, Skadden Arps Slate Meagher & Flom LLP, Washington, DC.

4:30pm            The Manufacturing Deduction:  A Look at Final Regulations Under Section 199.  This program will discuss the final regulations for the domestic manufacturing deduction expected to be released before the May meeting.  Emphasis will be placed on the significant changes between the proposed regulations and the final regulations as well as new issues raised by the final regulations.  Focus also will be placed on implementation issues faced by taxpayers as they compute the manufacturing deduction for the first time.  Moderator: Ellen MacNeil, Deloitte Tax LLP, Washington, DC.  Panelists:  Heather Maloy, Associate Chief Counsel (Passthroughs & Special Industries) IRS, Washington, DC; George Manousos, Taxation Specialist, Office of Tax Legislative Counsel, Department of Treasury, Washington, DC; Carol Conjura, KPMG LLP, Washington, DC.