2016 irs compliance regulatory tax and accounts payable · pdf file4 2016 irs compliance...

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Regulatory Tax and Accounts Payable C O N F E R E N C E

Improve the State of Compliance for Your Business!

2 0 1 6 IRS Compliance

November 6-9, 2016Caesars Palace, Las Vegas

IRSCompliance.org is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses of CPE credit. Complaints regarding registered sponsors may be addresses to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Nashville, TN 37218-2417. Website www.nasba.org.

www.nasba.org

http://IRSCConference.com

OverviewThe IRS Compliance Regulatory Tax and Accounts Payable Conference is your best training and educational resource! Î Are your business areas and tax department prepared to meet the new filing deadlines this year-end

2016 for filing Form 1099-MISC non-employee compensation and Form W-2 wages by January 31?

Î Will you be able to establish effective reasonable cause to abate the penalties for the 2015 returns that will be assessed at $250.00 per record?

Î Will you be ready to comply with the many states that will also require Form 1099-MISC (Box 7) and Form W-2 returns by January 31 this year-end?

Tax, legal, and accounting professionals are continuously facing the difficult responsibility of staying abreast of ever-changing Federal and State regulations and the impact of the procedures and responsibilities on their payment departments.

Federal and State agencies continuously review tax regulations, tighten gaps and identify areas that require new or modified regulations to improve tax revenue and collection. The agencies also ensure regulations are current with methods of payment. This includes: withholding tax deposits; information reporting to requiring agencies; the enforcement of regulatory laws; accessing and collecting owed tax, penalties, and interest; and withholding revenue when U.S. organizations fail to comply with the regulations.

Regulatory tax compliance regulations related to payments, property, purchases and wages are governed by federal law, and in most cases, state laws. This myriad of regulations requires U.S. organizations to comply with the laws or be subject to penalties and financial liabilities.

To eliminate and reduce the risks from non-compliance, it is prudent for staff resources to be educated on the federal and state regulations applicable to their job. Additionally, U.S. organizations must have current policies and procedures in place to address processing requirements for the events subject to these regulations.

The breadth of tax and revenue collection risks associated with failure to comply are enormous. If Federal or State agencies discover compliance failures your organization can suffer excessive penalties, fines and financial liability.

Your best defense is to ensure that your staff stays abreast of new and changing regulations and incorporate compliance processes and procedures throughout all business units.

I found the conference to be extremely beneficial to myself and our company. I’ve been able to put procedures in place to ensure IRS compliance with maintaining vendor records in the event we go through a 1099 audit.

2 2016 IRS Compliance Regulatory Tax and Accounts Payable Conference

Being new to Information Reporting, this conference enabled me to gain a better understanding and connect some dots to what happens during my work day.

OverviewIncreased Legislative ChangesThe IRS and state agencies have been very active with new and changing regulations intended to close “tax gaps” and increase revenue. Much of the increased legislative activity has been due to revenue deficits. To increase their revenue stream, the agencies are utilizing improved tools and methods to identify non-compliance, increasing penalties, enforcement, audits, legislating new reporting requirements and investigating new technology impact on the reporting information and the collection of taxes.

Legislative activity from Congress, the White House, IRS, U.S. Treasury and the majority of state agencies over the years has heightened. The current administration, the state of the economy and the ever rising deficits are requiring more changes.

Federal and state agencies have made these areas a priority for tax and revenue collection:

Î Information reporting,

Î Earlier filing dates to the IRS and SSA,

Î Earlier filing dates to State agencies,

Î Common reporting standard,

Î Continually increasing penalty tier structure,

Î Audits and enforcement,

Î U.S. and foreign payment compliance,

Î Documenting U.S. and Foreign payees,

Î FATCA withholding and reporting,

Î Sales and use tax,

Î Withholding tax,

Î Unclaimed property,

Î Assessment and collection of penalties,

Î Employment and unemployment tax issues.

Prerequisites for the conference

There are no prerequisites or advanced preparations needed. This conference is applicable to all, with concurrent session tracks for beginner, intermediate and advanced professionals. Orientation and workshop topics in regulatory tax, accounting, employment/unemployment, state abandoned property (escheatment), and accounts payable are available to all attendees. Professionals may attend sessions for legal, tax and accounting fields of study.

3November 6-9, 2016 | Caesars Palace, Las Vegas | Don’t Roll the Dice with Compliance!

Professional Training and Certifications Organizations benefit from knowledgeable, proactive staff to reduce financial risks for non-compliance. Ongoing education enables tax, legal, payroll and accounting professionals to resolve issues, comply with regulations, and incorporate new and pending legislative requirements in their business practices and processes.

As a tax or accounting professional, you are expected to do more with less, control costs by using the latest payment system automation, work intuitively with every system and department within your organization, and comply with complex and changing regulations.

Ongoing education offered by IRS Compliance retains your accreditation and keeps you up to date on the changing regulations. Changing Federal and State legislative regulatory requirements creates financial risks for companies not prepared to comply.

Prove that you have the knowledge to execute your job with confidence and get the respect and compensation you deserve with CIRS, CMISC, CNRA, or newest addition, CSTATE certifications. Studies show that individuals holding certification can earn an average salary of 11% to 20% higher than their uncertified colleagues! Isn’t it time you get certified?

The Standard of Excellence for Accounting and Tax Professionals

These designations set the standard within any business area sponsored by IRS Compliance, Inc. – the leader in compliance services and regulatory training, resources, and services. The Certification signifies that an individual has demonstrated the knowledge and skills required to perform well in today’s complex business environment with Federal and State regulatory requirements.

IRSCompliance.org is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses of CPE credit. Complaints regarding registered sponsors may be addresses to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Nashville, TN 37218-2417. Website www.nasba.org.

The Key to Success! Need more information?

Check out our selection of certification programs. If you don’t see what you need for your organization, give us a call at 877-TAX-REGS or email [email protected].

I think this conference is the best I have attended in several years. Relevant topics, presenters who are very knowledgeable and great opportunities to network.


www.nasba.org

mailto:[email protected]

Form 1099-MISC Information Reporting and Withholding Certification (CMISC)

Compliant processing of miscellaneous payments is invaluable to your employer and your career. The majority of U.S. Organizations issue payments of reportable income in the course of their trade or business. Validate your knowledge:

Î Non-employee compensation Î Contractors and providers Î Legal and Medical Services Î Honorariums Î Fees Î Commissions Î Rents Î Royalties Î Attorney Settlements Î Awards and Prizes Î Consignment Resale

Form 1042-S Information Reporting and Withholding Certification (CNRA)

With the exception of payments for goods and materials or for services provided outside of the U.S., almost all other payments issued to a foreign payee are reportable and may require Federal withholding. If you manage foreign individual or entity payments, you must know the following:

Î Identifying and documenting the payee Î What type of documentation is required and

acceptable Î Validating documents Î Classify properly as a foreign or U.S. payee Î Determine and find the correct foreign treaty rates Î Withholding under treaty or non-treaty rates Î Understanding and applying FATCA rules Î Applying FATCA Withholding Î Which Form W-8 document is required Î Reporting Form 1042-S Payments Î Penalties for Form 1042-S errors Î Filing the Annual 1042

State Information Reporting and Withholding Certification (CSTATE)

Some states have direct filing requirements, mandatory withholding and backup withholding of tax. Several states have passed legislation to piggyback on IRS laws, increasing your penalties and financial risks.

If your company issues reportable payments to residents across states, payments for services, rents, royalties, etc., you may be required to report the payments to the requiring state and withhold state tax! You must know the following:

Î Identifying the state in which the payment, reporting withholding may be required

Î Identifying if state backup withholding is required Î Identifying when you have a “cross state” provider Î State reporting and withholding for Non Resident

Aliens Î IRS Combined Federal Reporting Program (CFS)

and exceptions Î Independent Contractor Reporting Î Identifying the payment state based on form type Î Direct States filing requirements and corrections

Federal and State Information Reporting and Withholding Certification (CIRS)

There are many complex State regula-tions on mandatory, backup, cross-state withholding and direct information reporting. States have been compar-ing information obtained from the IRS and implement penalty programs which they enforce. Several states have passed legislation to piggyback on new IRS laws,

increasing penalties and financial risks to companies.

Receive the training you need to prevent penalties and understand complex and changing regulations.

Î Required documentation for U.S. and Foreign Payees

Î What is reportable Î When you must withhold tax Î Filing requirements Î Employee vs Contractor Î State Reporting Î B-Notices Î Penalties

Federal and State Information Reporting

and Withholding Certi�cation

CIRS

State Information Reporting & Withholding

Specialist

CSTATE

Form 1099-MISC Information Reporting


CMISC

Form 1042-S Information Reporting


CNRA


Here’s your chance to prove it.

Advance Your Career. Get Certified!

Get certified in the area of your expertise: CMISC, CIRS, CNRA or CSTATE

Please visit www.IRSCompliance.org for more information and to register.

Think you know everything about Federal & State reporting and withholding?


PRO1099R

P2P Consulting

Our Sponsors

IRSCIRSCompliance.org

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The focus of this conference is tax, legal,

accounts payable, employment and business

needs related to federal and state regulatory

requirements.

Relevant issues include:

Î coverage of Federal and State reporting and withholding regulations,

Î payment & payee compliance,

Î regulatory changes and implementation,

Î sound tax and accounting practices,

Î industry issues,

Î accounts payable processes,

Î payments to U.S. and foreign payees,

Î mandatory withholding,

Î current and new legislation and compliance issues

Conference FocusThis conference provides regulatory and accounting education, new and current regulation updates, accounts payable management, employment, and accounting practices. General sessions cover important legislative initiatives, newly enacted legislation that will impact business practices and discussions to improve compliance amidst federal and state regulations.

Workshops give attendees the opportunity to interact with peers, participate in sessions and have access to recognized experts in the industry. Advanced, Intermediate and Beginner tracks scheduled throughout the conference!

Discussions include:

Î Penalty Increases that apply to tax year 2016 information returns

Î FATCA compliance

Î Collecting & validating new Forms W-8-BEN-E

Î Basics to the Common Reporting Standard (CRS)

Î Regimes of Withholding – a look at the code

Î Impact of health care regulations

Î IRS Code Sections 3402, 3405 and 3406

Î Abating the increased assessment of penalties

Î Foreign Payees – documents, reporting and withholding

Î Federal and State reporting and withholding

Î IRPAC update

Î Penalties assessed on Form 1099-K filings

Î IRS legislative update

Î Independent contractors – mandatory withholding and reporting

Î January 31 due dates and state penalties

Î Documenting and validating U.S. and foreign payees

Î State escheatment/unclaimed property

Î Open discussion with the IRS on working on abatements, liens, service

Î IRS audit initiatives regarding U.S. and foreign information reporting and withholding

Î A review of the first year of FATCA – did we do it right?

Î How to cope with unresponsive IRS support

Î The impact of current and future taxation and reporting of the Cloud delivery of products and services

Î Employment tax

Î State sales and use tax

Î Accounts payable – Management Track

Î Tax Year 2016 Form 1042-S review

Î Challenges in dealing with the IRS to be successful in abating penalties

Î Do’s and don’ts of an IRS audit

Î State reporting and withholding

Î State withholding deposits

Î From purchase orders, invoice, the payee/vendor status, and determining exportability and withholding requirements


Featured Speakers:

Î Deborah A. Mata, Local Taxpayer Advocate, IRS Advocate

Î Jeremy Oswald, Lead Case Advocate, IRS Advocate

Î Dawn McQuire, Ernst & Young, LLP

Î Deborah Pflieger, Ernst & Young, LLP

Î Colleen Phalen, CUNA Mutual

Î Ernest Molinari, Prudential Financial, Inc.

Î Geraldine Ortiz, Charles Schwab

Î Beatriz Casteneda, Charles Schwab

Î Michael Chittenden, Miller & Chevalier

Î Michael Lloyd, Miller & Chevalier

Î David Hay, P2P Consulting

Î Julia Colbus, Altus Group

Î Sara Withrow, West Virginia State Treasurer’s Office

Î Matthew Chenowth, True Partners Consulting, LLC

Î Carla McGlynn, Unclaimed Property Consulting & Recovery, LLC

Î Robert Tucci, True Partners Consulting, LLC

Î Bert Anzaldo, Financial Software Innovations, Inc.

Î Susan Vance, Financial Software Innovations, Inc.

Î Karen Anderson, Keane Unclaimed Property

Î James Santivanez, JMS Advisory Group

Î Carol Kassem, IRS Compliance, Inc.

Î Lynda Foertschbeck, IRS Compliance, Inc.

Î John Foertschbeck, IRS Compliance, Inc.

Î Dennis Zuehlke, Ascencus

Î Diana Turner, Citi

Î Kelly Evers, JMS Advisors

Î Dan Mayer, Unclaimed Property Consulting & Recovery, LLC

Î John Waite, Boomerang Asset Recovery

Î Phil Binkow, Financial Operations Network

Î Rich Riddle, IRS Compliance, Inc.

Î Robert Birely, IRS Compliance, Inc.

Î Juanita Romero, Pacific Life Insurance

Î Jim Sadik, True Partners Consulting, LLC

Î Tim Goodyear, JMS Advisory Advisors

Î Hayden Adams, Charles Schwab

Speakers will examine new regulations, pending and existing legislation and the resulting impact to your organization. These recognized leaders are experts in the regulatory industry, legal representation, accounting, and government.

Receive presentations and materials for tax directors, legal professionals, accountants, managers, employment and accounts payable personnel in the financial, banking, insurance, medical, education, gaming, brokerage, insurance, government, medical, manufacturing, retail, suppliers and services industries.

Industry experts will provide insight into regulatory and accounting issues that directly impact your organization. Work groups will provide personal access to instructors and experiences of your peers.

SpeakersGeneral sessions, workshops and labs will cover a wide range of regulatory and accounting issues and improve internal processes that affect your organization.


Caesars Palace, Las VegasEnjoy our conference even more in the entertainment capital of the world! As famous as Las Vegas itself, Caesars Palace is the best-known casino resort in the world—and with good reason. What began as a grand casino honoring the indulgent luxuries of ancient Rome has somehow evolved into something even more spectacular. Caesars Palace is renowned for impeccable service and attention to detail, and guests can rightly expect the same.

Hotel InformationCaesars Palace, Las Vegas 3570 Las Vegas Blvd. South Las Vegas, NV 89109

Room Rate

IRS Compliance Conference room rates at Caesars Palace Las Vegas are $179/night + tax and applicable fees. A limited number of rooms per night are available at this rate. IRS Compliance will provide attendees with a room reservation link after a completed registration has been received. Additional registration fees apply for guests not booked into a conference blocked guest room.

TransportationShuttles and limosines are available fom the airport to the conference hotel. McCarran Internation Airport (LAS) is about five miles south of downtown Las Vegas.

Recreation & Amenities Î Montecristo Cigar Bar Î Vista Cocktail Lounge Î Garden of the Gods Pool

Oasis Î Venus European Pool

Lounge Î The Forum Shops Î Qua Baths & Spa Î Color Salon by Michael

Boychuck Î Appian Way Shops Î Seahorse Lounge Î Numb Bar & Frozen

Cocktails Î Cascata and Rio Secco

Golf Courses and The Butch Harmon School of Golf, just minutes away


Hotel

Type Certification Testing Regulatory Tax Unclaimed Property Accounts Payable 1099 Pro Training W-2/1042-S/1099 State Reporting/Withholding Sales & Use Tax

Experience Beginner Intermediate Expert

Conference Agenda

Sunday, November 6, 2016IRS Compliance/1099 Pro Demo Room is open Sunday 8:00 a.m. to 2:00 p.m.

Time Session Title Type Experience

8:00 a.m. – Noon Attendee Registration

8:00 - 9:30 a.m. Breakfast (Prerequisite: Requires attendance to classes on Sunday morning)

8:00 - 9:30 a.m. CIRS, CMISC, CSTATE & CNRA Examination (Prerequisite: Registration for Certification Exam)

8:30 - 9:20 a.m. New to Regulatory Tax Compliance

8:30 – 9:20 a.m. Welcome to Unclaimed Property Filing

9:30 - 10:20 a.m. Form 1099-MISC Workshop

9:30 - 10:20 a.m.Current Documentation Requirements for Payees (Forms W-8, W-9) and Identify Reportable 1099, 1042-S Payments

9:30 - 10:20 a.m. Due Diligence and Advertising in Unclaimed Property

10:30 - Noon Maintaining Compliance Throughout the Payment & Reporting Cycle

11:00 - 11:50 a.m. Basics of Federal Information Reporting & Withholding Requirements

11:00 - 11:50 a.m. Unclaimed Property Exemptions & Deductions

11:00 - 11:50 a.m. Handling 1099-Misc Box 7 and W-2 Early Filing Hands-On

Noon - 12:50 p.m. SSN/TIN: On Boarding Best Practices

Noon - 12:50 p.m. Filing Unclaimed Property

Noon - 12:50 p.m. ACA 1094/1095 Reporting

1:00 - 2:30 p.m.CIRS, CMISC, CSTATE & CNRA Examination (Prerequisite: Registration for Certification Exam)

1:00 - 3:00 p.m. IRS Compliance Managed Services User Group Meeting




Conference Agenda

Monday, November 7, 2016IRS Compliance/1099 Pro Demo Room is open Monday, 8:00 a.m. to 5:00 p.m.


8:00 a.m. - Noon Attendee Registration

8:00 - 9:30 a.m. Breakfast

8:30 - 9:00 a.m. Conference Keynote

9:00 - 9:50 a.m. Information Reporting & Withholding Update for 2016

10:00 - 10:50 a.m. Basics To Common Reporting Standard (CRS)

10:00 - 10:50 a.m. Unclaimed Property Compliance

11:00 - 11:50 a.m. IRPAC Update

11:00 - 11:50 a.m. Unclaimed Property Securities

11:00 - 11:50 a.m. TIN Management Module

11:50 a.m. - 1:10 p.m. Lunch

1:10 - 2:00 p.m. Open Discussion with IRS Representatives

1:10 - 2:00 p.m. InvoiceInfo Vendor Portal Demonstration

2:10 - 3:00 p.m. State Reporting & Withholding

2:10 - 3:00 p.m. What is the Correct W-8 Form to Use and When?

2:10 - 3:00 p.m. Unclaimed Property - FSITrack Solution Demonstration

3:00 - 3:20 p.m. Afternoon Break

3:20 - 4:10 p.m.Changes to the Most Commonly Utilized Forms for Filing Information Returns

3:20 - 4:10 p.m.Changing Your Procedures & Processing to Comply with the New Federal & State Filing Dates

3:20 - 4:10 p.m. Unclaimed Property General Ledger

4:15 - 5:10 p.m. IRC 3402, 3405, 3406: Understanding Notification & Form Requirements

4:15 - 5:10 p.m. Dissecting the Code for Applying the Five Regimes of Withholding

4:15 - 5:10 p.m. The Underside of Unclaimed Property Filing


Tuesday, November 8, 2016IRS Compliance/1099 Pro Demo Room is open Tuesday, 8:00 a.m. to 5:00 p.m.



9:00 - 9:50 a.m.How Cloud Computing, Remote Services & Online Products Will Possibly Impact Tax Withholding and Federal/State Information Reporting

9:00 - 9:50 a.m. Form Entry, Group Actions, Notes, Audit Trails & Transactions

10:00 - 10:50 a.m. IRS Audit Initiatives & Enforcement on Compliance and Penalties

10:00 - 10:50 a.m. Unclaimed Property Update

10:00 - 10:50 a.m. Keys to Successful Accounts Payable Customer Service

11:00 - 11:50 a.m. Unclaimed Property Filing for Life Insurance Companies

11:00 - 11:50 a.m. Practices and Procedures for an Improved AP

11:00 - 11:50 a.m.Vendor Self-Service Portals: Reduce Phone Calls and Emails and Improve Productivity

11:00 - 11:50 a.m. Importing, Rules & Validation & Transactions

11:00 - 11:50 a.m. Understanding the IRS Code Penalty Regime

11:50 - 1:10 p.m. Lunch

1:10 - 2:00 p.m. Payroll for a Mobile Workforce

2:10 - 3:00 p.m.Is AP Becoming the New Payroll? State Withholding on Non-Employee Compensation

2:10 - 3:00 p.m. FATCA Payments vs. Non-FATCA Payments

2:10 - 3:00 p.m. Unclaimed Property Audit Preparation

2:10 - 3:00 p.m. Custom Queries, Custom View, Custom Reports

2:10 - 3:00 p.m. AP Automation

3:00 - 3:20 p.m. Afternoon Break

3:20 - 4:10 p.m. State Taxation Challenges for Deferred and Stock Compensation

3:20 - 4:10 p.m. Filing Forms 1042-S and 1042 Annual Returns

3:20 - 4:10 p.m. Unclaimed Property In the Audit

4:10 - 5:15pm Unclaimed Property Post Audit

4:10 - 5:15pm Managing Change within the AP Department



Conference Agenda


Wednesday, November 9, 2016IRS Compliance/1099 Pro Demo Room is open Wednesday, 8:00 a.m. to 5:00 p.m.



9:00 - 9:50 a.m.Reviewing State Regulations as it Pertains to State Withholdings and Enforcement of Penalties

10:00 - 10:50 a.m. In-Depth: California Non-Resident Withholding

10:00 - 10:50 a.m. Dealing with the Annual B-Notice from the IRS CP2100/CP2100A

10:00 - 10:50 a.m. Unclaimed Property State Panel

11:00 - 11:50 a.m. Reviewing Regulations on Beneficiaries

11:00 - 11:50 a.m. DOL Fiduciary Rules

11:00 - 11:50 a.m. Information Reporting In-House vs. Vendor Solutions

11:00 - 11:50 a.m. Unclaimed Property Holder Therapy 101

11:50 - 1:00 p.m. Lunch

1:00 - 2:00 p.m.Open Panel Discussion on Federal and State Reporting & Withholding Issues

1:00 - 2:00 p.m.Improving Your Payment Process in AP While Reducing the Risk for Fraud

2:10 - 3:00 p.m. Unclaimed Property Ask the Experts

2:10 - 3:00 p.m. Emailing and Web Presentment of Tax Forms

2:10 - 3:00 p.m. Filing Requirements in Accounts Payable

3:00 - 3:50 p.m. Qualified Employee Discounts

3:00 - 3:50 p.m. Best Practices to Work with the IRS and States in Abating Penalties

3:00 - 3:50 p.m. Unclaimed Property Vocabulary Game and Review



Conference Agenda


We look forward to meeting all of you & sharing knowledge & information to help you to comply successfully with regulatory compliance.

Conference Registration & Fees for Guests of Caesars Palace**Additional registration fees apply for attendees not booked under Caesars Palace hotel block. Contact us for more information, [email protected], or 410-914-5470.

Discount Registration Dates Cost

Attendee Rate Through November 4 $1,495

Group Discount Now-November 1 5% off 2 or more attendees


How to Register

Visit Register.IRSCompliance.org

Call 410-914-5470

Hotel booking:

IRS Compliance will provide attendees with a room reservation link after a completed registration has been received. IRS Compliance Conference room rates at Caesars Palace Las Vegas are $179/night + tax and applicable fees. A limited number of rooms per night are available at this rate. Additional registration fees apply for attendees not booked into a conference blocked guest room.

Cancellations and substitutions:

No cancellations will be accepted after September 1, 2016. Substitutions may be made at any time for the same year. No-shows will be charged the full amount.

In the event IRS Compliance Inc. cancels the event, IRS Compliance Inc. is not responsible for any airfare, hotel, other costs or losses incurred by regis-trants. Some topics and speakers may be subject to change without notice.

Registration

IRSCompliance.org or IRS Compliance, Inc. are not affiliated with the U.S. Internal Revenue Service or any State Revenue or Taxing Agency.

IRS Circular 230 Disclaimer: To ensure compliance with IRS Circular 230, any U.S. federal tax advice provided in this communication is not intended or written to be used, and it cannot be used by the recipient or any other taxpayer (i) for the purpose of avoiding tax penalties that may be imposed on the recipient or any other taxpayer, or (ii) in promoting, marketing or recommending to another party a partnership or other entity, investment plan, arrangement or other transaction addressed herein.

Questions? Call 410-914-5470 or email [email protected]


Register.IRSCompliance.org


2016 irs compliance regulatory tax and accounts payable · pdf file4 2016 irs compliance...

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