IRS Issues FAQs on Uncertain Tax Positions

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Yesterday, the Internal Revenue Service released additional guidance relating to the IRS' new reporting requirements for Uncertain Tax Positions (UTP). The guidance was issued in the form of Frequently Asked Questions on Schedule UTP.

Props to Alison Bennett, who flagged this development in her article in BNA's Daily Report for Executives earlier today, IRS Issues Uncertain Tax Position Guidance, Clarifies Definition of Recording a Reserve.

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