IN THIS ISSUE:
Uncertain Tax Position Disclosures
At the beginning of the year, the IRS announced its intent to require certain taxpayers to disclose uncertain tax positions (UTPs) as part of their annual tax return filings. Disclosure of UTPs will probably have a significant effect on how IRS auditors operate. Page 4
Decision Protects Work Product Disclosed to Independent Auditor
The U.S. Court of Appeals for DC rejects an IRS motion to compel work product disclosed to an independent auditor. Page 2
Tax Issues Pending for Remainder of 2010
Several pivotal decisions on U.S. tax policy will have to be decided by the end of 2010, with historically low tax rates on individual income, capital gains and dividends set to rise. Page 6
ACLU Sues North Carolina Over Sales/Use Tax Audits
The aggressiveness of some states to assert tax jurisdiction over out-of-state retailers took an interesting turn as the ACLU sues North Carolina in an attempt to protect the privacy of Amazon.com customers. Page 9
Oklahoma Tax Changes Raise Interesting National Issues
Oklahoma enacts numerous changes to its tax law. Many changes are consistent with what other states are doing, but other changes such as the adoption of a gross receipts tax scheme based on net revenues are highly unusual and hint at potential widespread tax reform in the future. Page 11
