I.          Lunch Served

            - Delicious, as usual

           

II.        Guest: Congressman Paul Ryan

            Highlights Discussed: - Estate Tax Bill status pending

- Tax Title Wave pending in 2009/2010

- Desire to eliminate capital gains and dividend taxes

- Mutual fund tax reform

- Hybrid auto tax credit simplification

- Gulf Shore/off shore oil drilling issues

- Oil/gas refinery capacity issues

- Line item vetoes

 

III.       Introductions – 15 members of the Committee attended 

IV.       Review of Last Meeting

 V.        Various Updates

 

1.                  LeRoy Schmidt: LeRoy commented on the status of WICPA and his transition into retirement—will continue to be involved as a member of the WICPA—cross-border practice issues—Accounting Professor Shortages—Don’t forget CPAC/LIF funds

2.                  Tricia Knight and Ron Berman: The IRS/WDR Practitioner Liaison Meeting was well-attended.  Both sides had lots of positive feedback.  Please continue to provide them with concerns you’d like addressed by either tax agency. 

3.                  Gary Hollman: WICPA’s Annual Tax Conference will again be at the Italian Community Center on Nov. 2 (federal) and Nov. 3 (state).  Attendance has been lower, so mark your calendars and encourage all staff to attend.

4.     The  Elected Officials Tax Guide should be
        maintained. 

5.     Other Updates: AICPA Liaison, etc.

 

VI.       General Discussion: 2005 Filing Season, Tax Law Changes, etc.

VII.     The next meeting is scheduled for January 3, 2007.