Uncertain Tax Positions: New Schedule UTP Requirement for Many Companies in 2013
Making Complex Disclosure Decisions as IRS Reduces its Filing Threshold
Recording of a 110-minute CFP webinar with Q&A
Conducted on Wednesday, February 13, 2013
Recorded event now available
This teleconference will prepare corporate tax professionals who are reporting uncertain tax positions to the IRS to identify and understand Schedule UTP compliance challenges and anticipate potential questions upon an audit.
Tax staffs for more, and smaller, companies should improve their familiarity now with the requirements of federal Schedule UTP. The IRS threshold for filing the form reporting uncertain tax positions declines to $50 million or less in assets in 2013 (for the 2012 tax year) and to $10 million in assets in 2015.
Companies must file Schedule UTP if they record a reserve for certain tax positions in their audited financials, or when they assess odds that a position will be litigated at better than 50%. With the filing threshold dropping next year, many more companies and their tax staffs must navigate IRS rules and FAQs.
Moreover, future IRS policy is worth consideration. Many observers feel the pace of filing Schedule UTPs on transfer pricing and other positions has been less than expected so far, leading to concerns about possible tougher enforcement by the Service. The time is now for a material briefing on Schedule UTP.
Listen as our presenter reviews the Schedule UTP rules in the contexts of lessons learned to date in preparing the schedule, and of evolving IRS oversight and examination policy.
Rules pertaining to Schedule UTP
- Reduced filing thresholds for 2013 and 2015
- IRS regulations, announcements, FAQs
- Lessons learned from large corporations preparing Schedule UTP to date
- Issues arising from IRS exams of Schedule UTP
The panel will analyze key issues such as:
- Calculating the maximum amount for each uncertain tax position.
- Meeting the requirement for a "concise description" of each reserved position.
- Navigating the "more likely than not" standard.
- Examining what is known now about how the IRS views sufficiency of Schedule UTPs so far and how workpapers are being treated.
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Upon completing this seminar, you will be better prepared to properly complete Schedule UTP as the IRS filing threshold declines and sweeps in more corporate taxpayers.
Cherie Hennig, Associate Professor of Accounting
University of North Carolina at Wilmington,
Ms. Hennig is the author of a treatise, "Practical Guide to Schedule M-3 Compliance," 2nd edition, and of numerous articles on Schedule M-3 and Schedule UTP compliance that have appeared in trade publications.
Certified Financial Planner (CFP) credit hours
CFP Processing $35.00
On-Demand Seminar - Audio Recording
Includes recorded streaming audio of full program plus PDF handouts.
Note: Self-study CPE, RTRP, and EA credits are not offered on on-demand webinars.
On-Demand Seminar Audio $49.00
Includes full event recording plus handouts.
Note: Self-study CPE, RTRP, and EA credits are not offered on recorded events.
Recorded Webinar Download $49.00
Recorded Audio Download (MP3) $49.00
DVD (Slide Presentation with Audio) $49.00 plus $9.45 S&H
NASBA CPE Sponsor
Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
Requires Adobe Reader 8 or later. Download Acrobat FREE.
Strafford is a NASBA CPE sponsor and our live webinars qualify for CPE credits. They offer you a high quality, cost effective, and convenient CPE option, with no lost travel time or expenses.
Strafford is registered with the Certified Financial Planner Board of Standards. The CFP board has granted 2 credits for this program.
I like that Strafford’s webinars offer the ability to get CPE while in the office.
Gustafson & co
Real life examples that we could relate to. Keep up the great work.
I thought that the speakers were very knowledgeable and their presentation materials will be good reference guides.
Claudia Del Castillo, CPA
Sol Schwartz & Associates
I liked the clear and concise manner in which the topics were presented.
General Electric Company
It was an excellent program!!
Federal Income Tax Advisory Board
Partner, National Tax Practice
Morrison & Foerster
Federal Tax Partner
Ivins, Phillips & Barker
Managing Director & National Leader, Federal Tax Credits & Incentives
Strafford webinars are backed by our 100% Unconditional Money-Back Guarantee: if you are not satisfied with any of our products, simply let us know and get a full refund. For more information regarding complaints and refunds, please contact us at 1-800-926-7926 ext 10. Complaints regarding this program can be submitted via the course evaluation found in the “Thank you” e-mail at the end of the course.