Make Your Audit Successful Before It Begins . . . and Handle It After; Teleconference

On Wednesday, April 26, 2006, from 12:30 p.m. - 1:45 p.m. EST, join leading tax attorneys and in-house tax counsel for a discussion on conducting transactions that will withstand an IRS audit, and how to deal with an audit through new IRS procedures including LIFE, IIR, Fast-Track, and revised approaches to traditional appeals.

In 2005, the Internal Revenue Service audited nearly 5,000 businesses with assets over $250 million, an increase of 11 percent.

Given the Service's increasing focus on examination and compliance, companies should begin preparing for audits before they begin. If not, companies may find themselves in a bind trying to locate a transaction's key documents or extrapolate business justifications from existing documents well after the fact.

Also, knowing and using applicable tax procedure rules can be critically important to successfully resolving substantive tax issues. Tax controversy procedures create the danger of damaging pitfalls, as well as the opportunity to adopt creative and successful strategies.

Speakers to include:
Pat O'Malley, Assistant Vice President - Federal Taxes, Union Pacific Railroad
Matthew D. Lerner, Partner, Steptoe & Johnson LLP
J. Walker Johnson, Partner, Steptoe & Johnson LLP

A question-and-answer session follows the program. The teleconference is toll-free; there is no charge to participate.

For dial-in information and further details, please contact us at events@steptoe.com.