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The Internal Revenue Service is responding to feedback on its draft form and instructions for Schedule UTP for reporting uncertain tax positions by making some changes for next tax season.
On 11 October 2022, the IRS published a draft Schedule Uncertain Tax Position ("Draft Schedule UTP") and corresponding Instructions. The IRS…
Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of November 7, 2022 – November 11, 2022.
IRS released Internal Revenue Bulletin 2022-45 on actuary enrollment fees, tax provision inflation adjustments, corporate bond monthly yield curve, retirement plan dollar limitations, and more.
Internal Revenue Service IRS announced draft changes to Schedule UTP, Uncertain Tax Position Return Statement, and Form 1120, Instructions for Schedule UTP, for the 2022 tax year. The IRS is continuing its effort of having corporations self-identify uncertain tax positions.