Concerns With Uncertain Tax Positions Proposal Cited in Comment Letter

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IRS's proposal to require taxpayers to disclose their uncertain tax positions “fundamentally alters the disclosure landscape” and raises a host of uncertainties and concerns for taxpayers, Steptoe & Johnson LLP, Washington, D.C., says in a letter to the service. The proposal “is a strong weapon in the hands of the IRS. It leverages disclosures made for purposes unrelated to tax enforcement in a way that disadvantages taxpayers in what is, undeniably, if regrettably, an adversarial process,” the firm writes.