Revised IRS rule brings a sigh of relief from businesses

09/26/2010 | CFO.com

The Internal Revenue Service recently unveiled a proposal that takes a favorable stance toward companies with uncertain tax positions. The Schedule UTP proposal will not require corporations to disclose maximum tax adjustments or positions that do not require an accounting reserve, as some had feared. The rule also will excuse companies from reporting the reasoning behind a tax position, tax experts say.

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