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Volume 1 2010 January Tax Tech eNews
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Tax Tech eNews
Volume 1
January 2010 |
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Happy New Year!
Welcome to the January 2010 Edition
of ACT's Tax Tech eNews!
We are looking forward to a great year and have a lot planned. You will be receiving information regularly regarding informative articles and webinars we have scheduled, surveys to complete, and our 2010 Annual Conference. To start, this issue of eNews includes articles about VAT, Tax Controversy Automation, Insourcing, Outsourcing, and Co-sourcing Tax Departments, Best Practices, and much more!
Don't forget that all ACT Memberships expired on 12/31/2009. If you have already renewed, Thank You! If not, please renew now to prevent any disruption in your ACT benefits. You may do so by clicking here or calling our office at 845-987-9690. Don't forget -- now is also a great time to update your profile information, as well as add additional team members to your Regular Membership profile at no additional charge.
We would also like to invite you to join us at the 2010 Annual Conference being held at the Clearwater Beach Resort in Clearwater, Florida May 24-26, 2010. Registration for the conference is now open. Be sure to complete your registration before March 1, 2010 in order to receive the full early bird discount. As you have heard, we have consolidated our two conferences into a single annual conference so this is your only opportunity to benefit from the live presentations and networking until 2011.
We have an outstanding line-up of presentations by experts in the tax and tax technology fields. This conference is perfect for tax professionals who want to better utilize technology and for the IT professionals seeking to learn more about best practices in the tax technology field.
Attending the ACT conference is a great way to learn how other companies are utilizing technology in the tax function. It's an opportunity to see the latest offerings from tax software vendors and to network with other companies to find out how well their technology solutions work. It's also a great way to stay current on topics such as IFRS, document management, federal and state e-file, collaboration technology, Excel, social networking, managing tax technology projects and much more!
Based on your feedback, we've added a full day of specialized sessions for you to choose from on Tuesday, as well as a Lunch and Learn on Monday. On Tuesday, we will have two hands-on training sessions focused on the use of Excel within the tax department. We also have Tuesday sessions with an emphasis on:
We look forward to working closely with you in the new year and seeing you in Clearwater Beach, Florida!
Sincerely,
The ACT Board, Committees, and Staff
Thank you to our 2010 Sponsors
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 Is the U.S. Finally Ready for Value Added Tax?Written by: Diogo Denczuk, Tax System Specialist, Sabrix (the Tax & Accounting business of Thomson Reuters)
Bi-partisan support for a U.S. VAT system is building in the face of runaway deficits and impending healthcare reform. Here's why VAT may soon happen here.
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Reducing the Burden and Risk in IRS Audits
Written by: David N. McPherson, J.D., LL.M, Product Manager, BNA Software
As a tax professional who has for many years embraced the notion that off-the-shelf software can automate complex tax computations and tracking with the "push of a button,” I can’t help but wonder why so many tax functions are still being managed using internally developed spreadsheet programs. Don’t get me wrong; I am a huge fan of Excel and the unique power that sometimes only my own spreadsheet routines can deliver. However, I have to say that, for me, the idea of building and maintaining homegrown tax solutions is a difficult concept to swallow in situations for which reliable, well-established commercial tax software already exists.
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Last eNews we introduced this new segment. This month, we would like to invite you to start using the Forums on our website. Forums are a great way to ask other members questions, as well as provide your feedback on topics posted by fellow members. Forums are open only to Regular Members and are moderated by the ACT Staff. To encourage you to participate in the on-line forums, we would like to offer a special incentive. Everyone that submits a forum post or response between January 1 and February 28, 2010, will be entered into a drawing to receive an ACT Prize Package.
If you would like to post an item on the forum, do the following:
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Go to "Member's Community" on the left menu and select "Forums". (Note: If you are not logged in, you will be asked to login).
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Click on "ACT Regular Member's Forum".
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Click "Post New Topic".
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Enter a "Subject" and enter in your question or comment, as well attachment, if applicable, and click "Submit". Note: There is no need to select "Locked" or "Type of Post" for a typical posting.
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That's it! Now your fellow ACT members can respond and comment on your post.
If you would like to post a comment to an existing item in the forum, do the following:
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Go to "Member's Community" on the left menu and select "Forums". (Note: If you are not logged in, you will be asked to login).
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Click on "ACT Regular Member's Forum".
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Click on the "Topic" you would like to comment on.
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Click on "Post Reply".
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Enter your reply, attached a file, if applicable, and click "Submit".
If you would like to subscribe to receive notification when something new is posted to the forum, do the following:
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Go to "Member's Community" on the left menu and select "Forums". (Note: If you are not logged in, you will be asked to login).
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Click on "ACT Regular Member's Forum".
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Click on "Subscribe to Forum". You will now receive an email notification each time someone posts a new topic or responds to a topic. If you would rather subscribe to a single thread, instead of clicking "Subscribe to a Forum", you can go into a specific post and click "Subscribe to Topic". |
In-sourcing, Co-sourcing and Outsourcing; An Insider's Perspective
Written by: Susan Bauer, Senior Director Tax and Tax Counsel, Southwest Airlines Co.
As the world grows smaller through electronic media and fast paced changes to business processes, and as the economy remains weak in what is being termed a jobless recovery, businesses are seeking opportunities to reduce costs. For the CFO and senior tax leadership, this cost reduction analysis usually includes an annual tax function review.
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Creating a Successful Tax System Implementation
Written by: Diane Yetter, President, Yetter Consulting Services
With thirteen years of transaction tax software implementation experience, I have implemented different transaction tax systems with various ERP systems using standard and custom integrations. Over the years, I have identified common factors that encourage a successful implementation. These suggestions ensure that the implementation process progresses as smoothly as possible and is time and resource efficient. I have also identified common factors that steer implementation projects to be ineffective, time consuming, and unsuccessful. To minimize failed tax software system implementations, whether with standard or custom integrations to the ERP systems, these points should be avoided.
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Next Bi-Monthly Webinar
We hope that you have been able to attend and have been enjoying our bi-monthly webinars. As a reminder, if you have missed any of the previous webinars, please click here to visit our website for a link to the archived presentations.
Below is the information for our next webinar:
IFRS - Impacts to Capital Asset Accounting
| Host and Sponsor: |
BNA Software |
| Date: |
February 16, 2010 |
| Time: |
2:00 PM EST |
| Duration: |
1 Hour |
| CPE Credit: |
1 |
Webinar Description:
The movement by US Corporations to International Financial Reporting Standards (IFRS) will mark a significant change in many aspects of financial accounting for those corporations.
The SEC has currently proposed mandatory adoption for select companies in 2014 and has proposed that, in the meantime, nearly a dozen new standards be implemented to help US GAAP converge with IFRS by the end of 2011. Capital Asset Accounting represents a significant area of difference between IFRS and US GAAP. During this Webinar we'll discuss IFRS conventions for capital asset accounting and provide an analysis of the potential impact that the application of IFRS capital asset accounting standards would have for US corporations in areas such as capitalization of development costs, fair value measurement, impairment testing, mergers / acquisitions, and tax compliance / planning.
Registration Link:
** Upon registration you will receive login instructions via email.
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Upcoming Webinars
Five Reasons to Integrate Global Tax Reporting Into Your Consolidated Financial Reporting Process
| Host and Sponsor: |
Longview Solutions |
| Date: |
April 20, 2010 |
| Time: |
2:00 PM EST |
| Duration: |
1 Hour |
| CPE Credit: |
1 |
The Tax Department of the Future
| Host and Sponsor: |
Thomson Reuters |
| Date: |
June 22, 2010 |
| Time: |
2:00 PM EST |
| Duration: |
1 Hour |
| CPE Credit: |
1 |
Speaker Opportunity
ACT is looking for speakers that are experts in their area to speak at our webinars. If you have a presentation you would like to contribute or if you have a topic you would like us to cover, please let us know by filling out the Speaker and Author Opportunity Form. |
The 2010 Consumer Electronics Show in 3D
Written by: Sam H. Fawaz CFP® CPA, Y.D. Financial Services & Solutions
This is starting to get old. Another Las Vegas Consumer Electronics Show (CES) is now history and there's not much new to show for it. If you followed the media hype, you'd think that innovations and breakthroughs were rampant at this year's CES. Unfortunately, once again, incremental improvements to existing technologies were the name of the game, with an emphasis on incremental.
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Registration is Now Open for the 2010 Annual ACT Conference
Be sure you arrive early Sunday, May 23, 2010 to join us at the Welcome Reception beginning at 4:30PM.
To view a description of all of the conference sessions, click here.
Conference Registration Fees:
Before March 1, 2010 (includes a $150 early bird discount)
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Member: $750.00
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Non-Member: $950.00
After March 1, 2010 and Before April 23, 2010 (includes a $75 early bird discount)
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Member: $825.00
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Non-Member: $1025.00
After April 23, 2010 (no discount)
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Member: $900.00
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Non-Member: $1100.00
To cover administrative costs, a service fee will be charged for all canceled registrations. Cancellations received in writing by April 23, 2010 will incur a service fee of 20% of the original registration fee paid. Cancellations received after April 23, 2010 and no-shows will be charged the full conference fee.
Your conference registration includes:
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Attendance at all General Sessions on Monday and Wednesday
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Attendance at your choice of 4 Track Sessions on Tuesday*
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Breakfast and Lunch Monday, Tuesday, and Wednesday
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Participation at the Welcome Reception on Sunday evening**
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Participation in the Vendor Expo and Reception on Monday evening**
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Participation in the Networking Event on Tuesday evening**
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You will also receive an attendee bag that contains information related to the conference, vendors, and a USB drive with all conference presentations included
* For the sessions on Tuesday, you may select to attend one track session for each time slot.
Additional Helpful Information:
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You should make your hotel reservations as soon as possible. We expect the hotel block to sell out.
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Through ACT's partnership with our conference management team, Conference Direct, we were able to negotiate an outstanding room rate of $129/night. If you do not make your reservations before the hotel deadline, the rate will increase to over $200/night.
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The special room rate will be available until April 23rd or until the group block is sold-out, whichever comes first.
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The Group Rate is available three days before and 3 days after, based on availability.
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Member Spotlight
Calling all members! If you have a process you've automated or streamlined in your tax department, other members want to know. If you are interested in being featured in our eNews Member Spotlight, please contact us.
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The Tax Tech eNews is published by the Association for Computers & Taxation (ACT), a nonprofit organization. Permission is required to reproduce in any form. Opinions expressed are solely the author's, and not the opinion of ACT. Send all editorial correspondence, manuscripts, etc. to: ACT, P.O. Box 1093, Warwick, NY 10990.
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