Set the Tax Risk Management Strategy Process and Project Plan

THE INITIAL PLANNING process is facilitated by the Tax Risk Management facilitator in conjunction with the BO/CFO , financial manager, and tax manager. It entails:

• appointing the tax risk management Tax Risk Management strategy participants,

• planning the tax risk management Tax Risk Management strategy session,

• setting the specific tax risk objectives,

• planning the tax risk reduction strategy,

• planning the factual gathering process,

• planning the analytical and solutions process,

• determining the closure date, and

• setting the parameters for the future maintenance process.

• During this defining process, the BO/CFO will be able to identify and validate the process that will reduce the tax risk of the business, illustrate the business processes to be implemented, define the requirements to minimize tax risks, and satisfy the IRS. Make the appropriate preparations to be an effective project leader.

Appointing the Tax Risk Management Strategy Participants.  This entails:

• appointing the tax team; and

• forming the tax steering committee.

The tax team appointment process has been dealt with in chapter 2 above. The tax team will report to the tax steering committee. The tax steering committee will report to the audit committee. Tax team meetings will take place frequently. Tax steering committee meetings will take place monthly.

In accordance with Circular 230 Disclosure