What is the purpose of Schedule UTP?
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What is the purpose of Schedule UTP?
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Schedule UTP which stands for Uncertain Tax Positions is a reporting requirement used by certain taxpayers in the United States The purpose of Schedule UTP is to provide the Internal Revenue Service IRS with information about tax positions taken by taxpayers that involve significant uncertainty The schedule is typically attached to a taxpayers annual income tax return specifically for corporations with total assets of 10 million or more that are required to file Form 1120 Form 1120F Form 1120L or Form 1120PC The information provided on Schedule UTP includes details about each uncertain tax ...View the full answer
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Related Book For
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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