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Schedule UTP and Schedule M-3:Recent IRS Actions

 

Learn how to prepare the schedules along with the associated disclosures and filings that accompany them.

It has been a little more than 15 years since the Schedule M-3 was added and over a decade since the IRS introduced these additional disclosures for tax positions. Both introductions were met with a bit of fanfare but in recent years these disclosure mechanisms have become routine while corporate examination rates have fallen. As the IRS gears up for additional funding and focuses a new light on corporate taxpayers, the agency has returned to these tax return disclosures for examination leads and penalty opportunities. This topic will help tax professionals understand the evolving purpose of these disclosures. The material will also explain how to prepare the schedules along with the associated disclosures and filings that accompany them. Understanding the purpose and filing requirements of these tax return disclosures can help taxpayers reduce audit risk and avoid penalties for improper filing. This information is critical for tax professionals who are responsible for these disclosures and their colleagues who manage tax risk and audit exposure.

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Schedule UTP and Schedule M-3:Recent IRS Actions

Agenda

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Schedule UTP and Schedule M-3:Recent IRS Actions

Faculty

Anson H. Asbury, J.D., LL.M.

Anson H. Asbury, J.D., LL.M.

Asbury Law Firm

  • Managing Shareholder, Asbury Law Firm
  • Practice focuses on complex federal tax litigation and tax controversy
  • He advises Fortune 50 companies on tax reporting, tax procedure, and IRS & state appeals processes; he also represents closely held partnerships, estates, and high net worth individuals in civil and criminal tax litigation
  • 'Schedule UTP: The Early Returns Are In,' Journal of Accountancy, November 2012
  • 'Schedule UTP Expands Its Reach for 2012 Filers, Current Accounts,' The Georgia Society of CPAs, March/April 2013
  • Fellow, American College of Tax Counsel; fellow, American Bar Foundation; vice-chair, Court Practice and Procedure Committee, American Bar Association Section on Taxation; past chair, Atlanta Bar Association Tax Law Section
  • Ranked among the best of his peers by Chambers USA, Best Lawyers in America, and Super Lawyers
  • LL.M. degree, Georgetown University Law Center; J.D. degree, Penn State Dickinson Law; B.A. degree, Villanova University
  • Can be contacted at 404-382-9942 or [email protected]
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Schedule UTP and Schedule M-3:Recent IRS Actions

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