• New IRS Rules Will Require Businesses to Disclose Uncertain Tax Positions
  • February 8, 2010
  • Law Firm: Kaye Scholer LLP - New York Office
  • The Internal Revenue Service (“IRS”), on January 26, 2010, issued Announcement 2010-9, which describes its intention to require certain business taxpayers to file a schedule with their income tax returns providing information about uncertain tax positions that affect their U.S. federal income tax liability. The schedule would be filed with the Form 1120 (U.S. Corporation Income Tax Return) or other business tax returns, including, presumably, Form 1120F (for non-U.S. corporations doing business in the United States) and Form 1120-REIT. The new rules would affect business taxpayers with total assets in excess of $10 million.