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Tax Law Roundup current law developments in U.S. taxation

Tag Archives: reserves

IRS Revises FAQs on Schedule UTP – Reporting Uncertain Tax Positions

Posted on By Steven R. Schneider Posted in Compliance

The IRS updated their Schedule UTP Frequently Asked Questions, answering many common questions corporate taxpayers had in preparing their returns.  The FAQs address questions such as (1) when interest and penalties must be included in a ranking of the tax position; (2) the definition of a reserve; (4) whether to file Schedule UTP if the… Continue Reading