Friday, June 3, 2011

IRS Chief Counsel Discusses Uncertain Tax Position Disclosure Schedule

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IRS Chief Counsel William Wilkins answered a host of questions about the agency's proposed disclosure schedule for uncertain tax positions during a BNA webinar June 9, where he and international tax experts from the private sector engaged in a broad-ranging discussion of the many unanswered questions surrounding the proposal.

During the 90-minute session, Wilkins noted some of the alternatives and exceptions the IRS is considering to the requirement to list a maximum tax amount. He also addressed the language to be included on the form setting out items for description, saying that likely will change, and gave his opinion about possible solutions to the issue of duplicative reporting.

Williams said he continues to expect that the plan will be in place for tax returns filed in calendar year 2010.

CDs of the webinar are available at http://www.bnatax.com/uncertain-tax-positions-webinar/.
 

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