KPMG's Tax Governance Institute Webcast to Examine IRS Revised Announcement on Uncertain Tax Positions

NEW YORK, Oct. 4 /PRNewswire/ -- KPMG's Tax Governance Institute (TGI) will hold a live video Webcast to discuss the Internal Revenue Service (IRS) revised tax return schedule on the disclosure of uncertain tax positions (UTPs) by corporate taxpayers. The Webcast, "A Conversation with the Chief Counsel of the IRS: Disclosing Uncertain Tax Positions to the Internal Revenue Service—Part II," is scheduled for Wednesday, Oct. 6, from 2:30 p.m. to 4 p.m. (ET).

Board and audit committee members, CFOs, tax directors and other business professionals interested in attending this timely Webcast panel discussion can register by logging on to: www.taxgovernanceinstitute.com.

The Webcast is being presented as a follow-up to the September 24, 2010 announcements by Commissioner of Internal Revenue Douglas Shulman that the IRS released a revised Schedule UTP, expanded its policy of restraint concerning documents relating to uncertain tax positions, and issued a directive to all Large Business and International Division (LB&I) personnel on the planned treatment of disclosed uncertain tax positions.

Sharing their insights on the topic will be panelists:

• William Wilkins, IRS Chief Counsel, who will provide further details on the IRS's new requirement, as featured panelist on the program.
• Michael P. Dolan, former deputy commissioner of the IRS and national director, Practice, Procedure and Administration, Washington National Tax practice of KPMG LLP.
• Eli Dicker, chief tax counsel of the Tax Executives Institute.

The IRS announcements are in response to the unprecedented number of submissions that were received in response to the agency's invitation to the public to submit comments on its initial proposal to require the disclosure of UTPs and the specifics of the Schedule that had been released in July.

"The participants in our Webcast will discuss the substance and potential impact of the important recent developments concerning uncertain tax positions," said Hank Gutman, director of TGI, former chief of staff of the U.S. Congressional Committee on Taxation, and panel moderator.

"The IRS paid attention to the comments from the numerous stakeholders, including the corporate, legal and accounting communities," Gutman added. "The revised Schedule UTP, together with the related announcements, provides a more focused and less intrusive reporting regime."

The Tax Governance Institute, part of the KPMG Institute Network, provides opportunities for board members, corporate management, stakeholders, government representatives, and others to share knowledge regarding the identification, oversight, management, and appropriate disclosure of tax risk. Visit the KPMG Institute Network for insight and thought leadership on emerging industry trends, new compliance and regulatory issues, and the evolving relationship between business and government.

KPMG LLP, the audit, tax and advisory firm (www.us.kpmg.com), is the U.S. member firm of KPMG International Cooperative ("KPMG International"). KPMG International's member firms have 140,000 professionals, including more than 7,900 partners, in 146 countries.

SOURCE KPMG LLP