Event Calendar

IRS Random Audits

Date: 15 April 2010

Description:

IRS Random Audits

Speakers:

Kevin P. Shimkus, Sr. Manager – Deloitte Tax – Employment Tax Consulting practice
Christine M. Martin, Sr. Manager – Deloitte Tax – Global Employer Services Compensation & Benefits practice

Start time: 7:30 am
End time: 9:30 am

Morning Session at the Metropolitian Ballroom – Link to Map

The IRS has announced that they will begin detailed employment tax audits in February 2010, randomly selecting 2,000 employers each year through 2012. The employers will be businesses of all sizes and legal forms, including tax exempt and government entities. The results of these audits will provide statistical data for the IRS’ National Research Program (NRP) study of employment tax compliance and will be used to identify issues to be addressed in future guidance, education outreach, and audits. Even if your organization is not selected for an audit this year, now is the time to begin identifying and addressing risk areas. The five areas – Worker Classification, Fringe Benefits, Officer’s Compensation, Employee Expense Reimbursement Plans and Non-filers – could just as easily be reviewed in connection with a corporate tax audit of the organization. Join us for a discussion of some of the latest trends and risk areas covered in federal and state employment tax audits.

Kevin Shimkus has over 25 years of Employment Tax consulting experience. He specializes in, and has extensive experience with, Federal and State employment taxation and information reporting, as well as state unemployment tax. Mr. Shimkus has been involved in projects addressing such issues as: 409A compliance, state taxation of nonqualified deferred payments and stock options, state income tax withholding obligations on qualified retirement plans, FICA taxation of medical residence, independent contractor / worker classification, common agent / common paymaster, taxation of settlement agreements, state taxation for multistate employees, supplemental unemployment plans and payroll compliance for inpat/expats. Mr. Shimkus has also provided employment tax / payroll integration consulting services for hundreds or mergers, acquisitions and corporate reorganization.

Mr. Shimkus has spoken on employment tax topics to such groups as; Taxpayers’ Federation of Illinois, National Institute of State and Local Taxation, Chicago Tax Club, Milwaukee Bar Association, Minnesota Society of Certified Public Accountants, American Payroll Association and The National Association of Tax Reporting and Payroll Management. He also authored an article that was published in BNA’s Weekly State Tax Reporter, on the topic of state taxation of nonresident employees.

Mr. Shimkus has a B.S. from Illinois State University, and is a Certified Public Accountant.

Christine Martin has more than 12 years of experience working with employee benefit plans and non-profit organizations. She has provided employee benefit consulting in the areas of qualified and non-qualified ERISA employee benefit pension plans and welfare plans. Ms. Martin has worked with clients on the design and operation of qualified retirement plans, 403(b) arrangements, 457(b) and 457(f) arrangements, deferred compensation plans, and equity-based compensation arrangements. She has been involved in projects addressing 409A and 457A deferred compensation issues, 162(m) compliance and Code section 280G Golden Parachute payments. She has also assisted clients in the design and operation of medical plans, cafeteria plans, health savings accounts, health reimbursement arrangements and funding arrangements. Prior to joining Deloitte, Ms. Martin was a member of the National Service Center for Employee Benefits of a Minneapolis-based national accounting firm.

Ms. Martin has spoken on employee benefit topics to many local groups, including the Minnesota Society of Certified Public Accountants, Minnesota Continuing Legal Education, Minnesota Association of School Board Officials, Minneapolis Pension Council and Twin Cities Human Resources Association.

Ms. Martin received a Bachelor of Science in Business degree in Finance, a Master of Business Administration degree in Finance and Accounting and a Juris Doctor degree at the University of Minnesota in Minneapolis, Minnesota. Ms. Martin is the current President of the Minneapolis Pension Council and is also a Certified Public Accountant.

Registration will begin at 7:30 a.m.
Buffet breakfast will be served beginning at 7:45 a.m.
The approximate time the meeting will end is 9:30 a.m.

Please register by Thursday, April 8, 2010

The next Northstar Chapter meeting will be held at the Metropolitan on
Thursday, May 20, 2010. The topic will be Pay Cards and Direct Deposit.

Meeting Registration: Select Registration Link

Please Note: The topics in our 2009 Calendar are subject to change based upon possible governance / regulation changes that may need immediate attention by Payroll Professionals (i.e. Obama Stimulus Package). In addition, topics/speakers may not be available on the dates originally scheduled. Thanks for your understanding — Northstar Program Chair.