Saturday, January 20

7:00AM - 9:00AM                                                              

Capital Recovery and Leasing

Chair:  Kevin D. Anderson, Washington, DC

7:00am                  Current Developments Report and Update on Pending  
     Guidance Projects.   This program will cover the
     important recent developments in the areas of capital
     recovery and leasing since the 2006 Joint Fall CLE
     Meeting in Denver, Colorado, and provide an update
     on guidance projects in these areas.  Moderator: 
     Katherine Breaks, KPMG LLP, Washington, DC. 
     Panelists:  Sharon Kay, Taxation Specialist, Office of
     Tax Legislative Counsel, Department of Treasury,
     Washington, DC; Dennis Tingey, Taxation Specialist,
     Office of Tax Legislative Counsel, Department of
     Treasury, Washington, DC; Glenn Johnson, Ernst & 
     Young LLP, Washington, DC.

8:00am                  Recent Developments in Proposed Tangible Property
     Repair Regulations.  This panel will discuss the most
     recent developments in the proposed regulations  
     concerning the capitalization of costs related to
     tangible property issued in August 2006, including a
     review of the comments filed in response to the
     proposed regulations and the issues discussed at the
     public hearing in December 2006.  Moderator:  Susan
     Grais, Ernst & Young LLP, Washington, DC.  
     Panelists:  Sharon Kay, Taxation Specialist, Office of
     Tax Legislative Counsel, Department of Treasury,
     Washington, DC; Kimberly Koch, Special Counsel to
     the Associate Chief Counsel (Income Tax and
     Accounting), IRS, Washington, DC.