Louis Goldsman Candidate for Treasurer BMW Car Club of America Sometimes the best-intended plan turns out not to be the best thing to do. When I ran for reelection to the office of Treasurer in 2009 my candidate statement mentioned an audit by the IRS the Club was undergoing. The IRS audit started in 2008. My intent in running for reelection in 2009 was, in addition to performing the normal duties of the treasurer, to help see us through the IRS audit and finish-out my service as Club Treasurer. Little did I know that three years later we would still be dealing with the IRS audit. The IRS finished its field audit work and issued a report that took exception to our interpretation of some provisions of the Internal Revenue Code (“IRC”) and IRS regulations. The IRS report is currently undergoing review within the IRS. However, if the IRS does not change its position it could have a serious financial impact on the Club. If that happens, we may have no choice but to file suit against the IRS in the United States Tax Court. The difficulty comes from the fact that, although the IRC & regulations governing social and recreation organizations were last changed in 1976, there have been no court cases that addressed the proper interpretation of the issues in dispute in our case. I decided to again run for reelection because my 12 years as a government auditor and 32 years in public accounting included testifying in court as an expert witness in matters being litigated. I retired from the largest CPA firm in the world, PricewaterhouseCoopers LLP, as Partner and National Chairman of a group within the firm that provided litigation support services. I believe that my background will be just what the Club needs if we have to file a lawsuit against the IRS.