Disclosing Uncertain Tax Positions to the IRS - A Conversation with the Chief Counsel of the IRS
Moderated by Hank Gutman, director of the Tax Governance Institute, the panel will feature William Wilkins, IRS Chief Counsel, Henry C. Wolf, chair of the audit committee of AGL Resources and audit committee member of Hertz Global Holdings, and Mark Bielstein, partner in charge of KPMG LLP's Accounting Group Department of Professional Practice.
| March 02, 2010 | 2:00pm ET
Tax Governance Institute
On January 26, 2010, Commissioner of Internal Revenue Douglas Shulman announced that the IRS would require large corporate taxpayers, for the first time, to provide a concise description of their uncertain tax positions and information about their magnitude. Calling the proposal "a major step toward transparency," Shulman said the Internal Revenue Service is working on a schedule that taxpayers would be required to submit with their federal tax returns.
Announcement 2010-9 raises important conceptual, definitional and practical issues affecting the tax function, management, boards of directors, auditors, and independent advisors. It also solicits public comments to be submitted to the IRS by March 29, 2010.