X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Most business people and business lobbyists are quick to complain that federal government agencies and regulators are woefully inefficient. In the case of the Internal Revenue Service, companies may want to be careful what they wish for. The agency appears to be on the verge of expanding its authority in the wake of the U.S. Supreme Court’s May decision not to review an appeals court decision in United States v. Textron that gave the IRS broad power to demand access to tax accrual work papers that haven’t been prepared specifically for litigation purposes. The IRS has proposed new regulations requiring public companies with assets of more than $10 million to file reports describing any uncertain tax positions and stating the amount of potential taxes at issue.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.