Summary of Change

IRS - OMB REVIEW REQUEST FORM
Request for OMB review of currently approved document:
Date:

06/08/2010

Name: Diane

Regier

Office Symbols:
Phone Number:

202-622-3695

Summary of Changes
Existing business tax returns do not currently require that taxpayers identify and explain uncertain tax positions
underlying their returns. Purpose of SCH UTP (F1120) is to aid the Service in focusing its examination resources on
returns that contain specific uncertain tax positions that are of particular interest or of sufficient magnitude to warrant
Service inquiry and allow examination teams to identify all of the issues underlying the tax returns more efficiently.
Schedule UTP asks for information about tax positions that affect the United States federal income tax
liabilities of certain corporations that issue or are included in an audited financial statement and have
assets equal to or exceeding $10 million. These are positions for which a tax reserve must be established under FIN
48 or other accounting standards, or positions for which a tax reserve has not been recorded for certain reasons
detailed in Announcement 2010-09.
TA - 26 CFR 601.603 Procedure and Administration Regs.

Impact on Approved Collection
Public
Law No.

Regulation
No.

Other
Code
References

SAMPLE:
PL 109-567

REG-345675-08

RP 2009-134

+/- 5

Change In IRS Form
& Instructions
No. of Filers
Words

+/- 20,000

+/- 500

Attachments

+/- 1

*Please insert how this new (PL, REG, or other), document will affect the currently approved collection.