Few Capitol Hill Discussions Seen on Uncertain Tax Positions Proposal

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The government's new proposal to require disclosure of uncertain tax positions has led to few discussions on Capitol Hill to date, a senior Joint Committee on Taxation staff member says. While JCT staff have been learning more about the accounting standard used to determine an uncertain tax position under the new proposal, JCT accountant Kevin Levingston says, the majority of the activity surrounding the plan has been at IRS and Treasury. “And I think that's where it should be,” Levingston tells the Atlanta Region International Fiscal Association.