Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P. - Attorneys at Law

2011 Conference Podcasts

• 8:00 a.m. - 8:55 a.m.

  • The Offshore Voluntary Disclosure Initiative ("OVDI") is Done: Now What?

  • The IRS has had two disclosure programs for offshore activities, but now the deadline for participation has passed.  Learn about what the IRS plans regarding future cases and what you and your clients can do if they have offshore accounts or other activities, but did not participate in the IRS OVDI.
    Joel N. Crouch, J.D.

• 8:55 a.m. - 9:50 a.m.

  • Estate Planning in a Changing Environment

  • A review and summary of the recent estate and gift and GST tax changes with specific focus on utilizing the new $5,000,000 gift tax exemption, and planning with the estate tax exemption and portability rules.
    Alan K. Davis, J.D., CPA, and Eric D. Marchand, J.D., LL.M.

• 10:05 a.m. - 11:00 a.m.

  • Woeful Tales of Tax Withholding: Helping Your Client Avoid IRS Employment Tax Issues

  • The IRS has embarked on a 3-year national research project on employment tax returns to ferret out perceived abuses, improve audit techniques and compliance.  This project is part of a broader initiative by the IRS centralized on the proper classification of workers and documentation of so-called independent contractors.  One slight misstep in these areas can cause your client to face bankruptcy-inducing IRS adjustments for income tax withholding, employment taxes, and a host of stackable IRS penalties.  This presentation provides an up-to-date discussion on the fundamentals and recent developments in the areas of worker classification and back-up withholding on undocumented independent contractors, as well as practical tips to help your client properly classify and document its workforce so as to avoid IRS entanglements.
    Anthony P. Daddino, J.D.

• 11:00 a.m. - 11:55 a.m.

  • The Expanding Reach of the PCAOB and Its Impact on the Accounting Profession

  • For the past nine years, the Public Company Accounting Oversight Board ("PCAOB") has exercised primary authority for registering and inspecting all accounting firms issuing audit reports for companies listed on U.S. exchanges, as well as setting U.S. standards for these accounting firms for auditing, ethics, quality control, and independence.  The PCAOB has recently issued broad new proposals aimed at achieving fundamental "Cultural" changes in the way auditors relate to their clients.  Increasingly, regulatory initiatives by the PCAOB originally aimed at the auditors of public companies are trickling down to impact audits of private companies, and are ultimately imposed by the IRS on tax preparers.  This presentation takes a critical look at the brief history of the PCAOB and its expanding influence on auditors and the accounting profession generally including tax professionals.
    David N. Reed, J.D.

• 11:55 p.m. - 1:10 p.m.

  • Aggressive Tax Planning or Fraud?

  • The difference is not always clear to the government.  Warning letters from the Director of Practice, investigations by criminal investigators and possible suits by clients, relatives and their shareholders occur too frequently.  This presentation will include real life examples and ways to protect yourself and your firm.
    Charles M. (Chuck) Meadows, Jr., J.D., CPA

• 1:10 p.m. - 2:05 p.m.

  • IRS Update: A Behind-the-Scenes Look at What's Hot and What's Not at the IRS

  • IRS Enforcement activity is reaching record highs.  This presentation explores the IRS's current areas of focus to help you identify which clients or transactions may be at a greater risk for IRS scrutiny or challenge.
    Mary E, Wood, J.D. and Stephanie D. Mongiello, J.D., M.B.A.

• 2:05 p.m. - 3:00 p.m.

  • The Hottest Audit Issues in Texas Tax: Who is Being Targeted For Audit and What Can You Do to Protect Your Client's Interests?

  • This presentation focuses on the most significant audit issues arising in Texas Tax audits, focusing specifically on areas that the Texas Comptroller's office is currently targeting. This should be of particular interest to tax professionals given that the Texas Comptroller has recently added over 80 new auditors to its workforce and is aggressively auditing taxpayers for both sales and use tax and franchise tax.  The financial challenges facing the State of Texas are only contributing to the number of audits and aggressive assessments.  This presentation will also discuss specific measures that practicitioners can take to protect their client's interests.
    David E. Colmenero, J.D., LL.M., CPA

• 3:15 p.m. - 4:10 p.m.

  • Tax Planning for Oil and Gas Interests

  • With the new developments in oil and gas exploration technology and exploitation of new formations, oil and gas practitioners are seeing a rise in oil and gas transactions.  Review the treatment of acquisition and disposition of various oil and gas interests.  Transactions covered will include various forms of sales, leases, subleases and sharing arrangements, including tax partnerships, as well as like-kind exchanges of oil and gas interests.   Find out about certain unique rules applicable to oil and gas interests for purposes of the Texas Margin Tax. 
    Thomas G. Hineman, J.D., LL.M.

• 4:10 p.m. - 5:05 p.m.

  • Judgment Day: Preparing for a Visit from Uncle Sam

  • This presentation will cover the new methods the IRS is using to conduct exams and what a tax professional should do to be prepared for an IRS audit in today's environment.  It will also cover the hot areas of focus for IRS examinations.
    Josh O. Ungerman, J.D., CPA