Uncertain Tax Positions - Schedule UTP
Second Year of Uncertain Tax Position Reporting
The IRS is currently reviewing its second year of returns filed with Schedule UTP. Beginning with Tax Year 2010, Schedule UTP was a new schedule that certain corporations used to report uncertain tax positions. Additionally, with Announcement 2010-76, the IRS expanded its policy of restraint in connection with its decision to require certain corporations to file Schedule UTP. Directives to LB&I personnel have been issued setting forth the IRS’s planned treatment of these UTPs by examiners and other personnel.
Submit your questions, comments, or concerns regarding Schedule UTP to the IRS. Although individual responses will not be provided, the IRS will consider submissions in efforts to improve Schedule UTP.
Information about UTP Education and Outreach Efforts:
LB&I is undertaking an education and outreach effort regarding Schedule UTP. LB&I will mail letters to inform certain taxpayers that a review of their Schedule UTP determined that one or more of the concise descriptions they provided did not meet the requirements set forth in the Schedule UTP instructions. If the taxpayer has a valid Power of Attorney on file with the IRS, the Power of Attorney will also receive a copy of this letter.
While the letter requires no action by taxpayers regarding their Tax Year 2011 Schedule UTP, taxpayers are advised to ensure that on any future filings of a Schedule UTP, the concise descriptions follow the Schedule UTP Instructions. All returns filed with a Schedule UTP will continue to be subject to a review in LB&I.
Taxpayers with questions about the letter or the concise descriptions are being referred to this WEB Site.
Document Description or Originator
|2012||Form 1120 Schedule UTP||Instructions for Form 1120 Schedule UTP|
|2011||Form 1120 Schedule UTP||Instructions for Form 1120 Schedule UTP|
|2010||Form 1120 Schedule UTP||Instructions for Form 1120 Schedule UTP|
|09-24-10||Announcement 2010-76, Policy of Restraint and Uncertain Tax Positions||Impact of the Policy of Restraint on Uncertain Tax Positions.|
|09-24-10||Announcement 2010-75, Reporting of Uncertain Tax Positions||Reporting of Uncertain Tax Positions.|
|04-19-10||Announcement 2010-30||Schedule UTP draft form and instructions.|
|03-05-10||Announcement 2010-17||Extension for comment request for Uncertain Tax Position reporting requirements.|
|01-26-10||Announcement 2010-9||Comment request for Uncertain Tax Position reporting requirements.|
|IRS and LB&I Guidance Memorandums:|
|05-31-13||Guidance for Preparing UTP Concise Descriptions||Specific Guidance|
|11-01-11||Cover memo by Commissioner, LB&I|
|11-01-11||LB&I Schedule UTP Guidance||Specific guidance|
|08-31-11||UTP Guidance and Procedures for the Compliance Assurance Process (CAP) Program||Commissioner, LB&I memo|
|05-11-11||Commissioner, LB&I memo|
|03-23-11||Uncertain Tax Positions - Modified Policy of Restraint||Commissioner, LB&I memo|
|09-24-10||Directive for LB&I: Reporting of Uncertain Tax Positions||Deputy Commissioner, Services and Enforcement|
|Public Statements and Comments by IRS Executives:|
|03-26-12||IRS Deputy Commissioner, Service and Enforcement Remarks before Tax Executives Institute||Remarks of Steven T. Miller, Deputy Commissioner, Service and Enforcement Internal Revenue Service Before the Tax Executives Institute, Mid Year Conference|
|09-24-10||IRS Commissioner Shulman Remarks before the American Bar Association, 9/24/2010|
|04-12-10||Remarks of IRS Commissioner Shulman at the Tax Executives Institute Mid-Year Meeting|
|01-26-10||IR-2010-13||Remarks of IRS Commissioner Doug Shulman to the New York State Bar Association Taxation Section Annual Meeting|
|08-13||UTP Filing Statistics|
|03-14-13||Frequently Asked Questions|