IRS: Uncertain Tax Positions - Draft Schedule UTP

The IRS (Internal Revenue Service) previously announced it is developing a schedule requiring certain taxpayers to report uncertain tax positions on their tax returns. The Internal Revenue Service (IRS) has now released the draft schedule, Schedule UTP, accompanied by draft instructions that provide a further explanation of the Service's proposal.

Internal Revenue Service invites public comment on the draft schedule and instructions. The schedule and instructions will be finalized after the Service has received and considered all of the comments regarding the overall proposal and the draft schedule and instructions.

Comments on IRS Announcement 2010-9, IRS Announcement 2010-17, the draft schedule, and the draft instructions should be submitted by June 1, 2010, as explained in IRS Announcement 2010-30.