New UTP form is source of uncertainty
February 11, 2011
Sophie Ashley - TPW
When the new uncertain tax position (UTP) form was launched in the US, in December last year, the IRS said it would simplify the disclosure process for uncertain positions and would not change their policy of restraint, relating to the audit process, in requesting work papers from companies.
Two months on, taxpayers are uncertain about how to prepare and fill out their tax return forms and what transactions apply.
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