Duane Morris LLP - IRS Proposes Disclosure of Uncertain Tax Positions

News Article

IRS Proposes Disclosure of Uncertain Tax Positions

By Pauline Renaud
April 2010
Financier Worldwide

Michael Gillen, director of the Duane Morris Tax Accounting Group, comments on the January 26, 2010, announcement that the Internal Revenue Service will require corporations and some partnerships covered by shareholder-transparency rules, with assets exceeding $10 million, to disclose uncertain tax positions along with their tax return. Gillen discusses the major details of the IRS proposal and suggests steps that companies should take to prepare for its possible approval later this year.

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