IRTA Fact Sheet

• Established Code of Ethics and voluntary self-regulation for the
  commercial barter industry.
• Secured passage of “Tax Equity and Fiscal Responsibility Act
  of 1982” (TEFRA) recognizing barter exchanges as third-party
  record keepers.
• Obtained Civil Aeronautics Board ruling allowing unrestricted
  barter of air travel.
• Secured $100,000 for a legal fund to defend barter companies
  against IRS use of "John Doe" summonses in audits.
• Curbs trade exchange deficit spending through education.
• Developed model contract setting-forth legal powers and
  responsibilities of trade exchanges and clients.
• Lobbied U.S. Treasury and Congress to eliminate transaction
  reporting, and steered industry to magnetic media reporting of
  information returns to the United States IRS.
• Blocked passage of adverse legislation affecting commercial
  barter in the states of California and Iowa.
• Actively engages radio, TV, and print media to gain more
  widespread public acceptance of barter.
• Disseminates new knowledge through training workshops,
  conventions and industry forums for exchange of ideas.
• Recognized as industry spokesman and watchdog.
• Secured introduction in Congress of H.R. 4201, Commercial
  Barter Self-Regulation Act.
• Worked to attract venture capital and open up public capital
  markets to barter industry.
• Conducted research on legal, accounting, tax and regulatory
  issues and monitored IRS, SEC, FASB, FTC and court rulings
  through a lobbyist in Washington, D.C.
• Funnels many valuable business leads to association
  members.
• Created and maintains an industry-recognized trade broker
  certification program to enhance competence and
  professional standards of trade exchange employees.
  To date, IRTA has trained and tested over 200 exchange
  brokers and granted them the status of CTB (Certified Trade
  Broker). In 2001, the program was enhanced to accommodate
  trade brokers globally.
• Created international structure to accommodate worldwide
  membership and participation.
• Created the Universal Currency to aid in reciprocal trading
  between trade exchanges and corporate barter companies
  worldwide.
• Consistently supplies the industry and media with global
  barter industry statistics through the gathering of data and
  statistical analysis of industry trends.
• Worked with the Australian government to safeguard the
  practice of barter and create a model from which to regulate
  the Australian barter community.
• Established partnership with U.S. Internal Revenue Service
  Partnership Outreach department to aid in the development
  and dissemination of educational material on barter to the
  businesses community in the U.S. as well as international
  companies seeking to do business in the U.S.
• Consistently interviewed by worldwide media as the
  recognized and impartial voice of the barter industry
  worldwide.