Description
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 M3 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.
Date: 2021-06-28 Start Time: End Time:
Learning Objectives