Federal Tax Procedures: Required Disclosures of Tax Positions

Question 1

What is a work product doctrine?

Answer 1

A doctrine that protects work product from detection

Question 2

A corporation must file IRS Schedule Uncertain Tax Positions (UTP) if it:

Answer 2

1) filed Form 1120, 1120-L, or 1120-PC,
2) has assets equal to or exceeding $100 million,
3) issued audited financial statements, and
4) has one or more tax positions that must be reported.