Uncertain Tax Positions: Accounting for Income Tax--And Why it Matters to Both Individual and Business Investors

Document Type



Published by the Civic Research Institute in the Journal of Taxation of Investments, volume 28 issue 4, 2011. Bryant users may access this article here.

Publication Source

Journal of Taxation of Investments


Accounting for income tax is an important and complex area for financial accounting purposes, and it has recently become important for income tax purposes as well. The newly released Schedule UTP (i.e., uncertain tax positions) reflects the heightened interest that the Internal Revenue Service has in taxpayers' financial accounting for income tax. n1 Accounting for income tax is even important to individual taxpayers who do not prepare financial statements.