Uncertain Tax Positions and the New Tax Policy of Disclosure Through the Schedule UTP.
Virginia Tax Review 2011, Spring, 30, 4
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- 14,99 lei
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- 14,99 lei
Publisher Description
Schedule UTP presents a new shift in the tax policy, the consequences of which may not be determined for years to come. Schedule UTP reporting will affect corporate tax practice, corporate management, compliance practice, and attorney-client relationships. Disclosures required by the Schedule UTP present a novel issue that, due to strongly conflicting positions taken by the Service and corporate taxpayers, will inevitably result in litigation. This article reports on an investigation of consequences and concerns surrounding the Schedule UTP and proposes issues that should be considered by the legislature, courts, taxing agencies, taxpayers, and practitioners in determining the future of the new disclosure tax policy and Schedule UTP. I. INTRODUCTION