_____ 18. In 2017, all corporations with at least $10 million in assets will be required to file Form 1120, Schedule UTP with their tax returns.

Question

Quizplus · Accepted Answer

This statement is true. As per the IRS guidelines, beginning in 2017, corporations with assets of $10 million or more will be required to file Form 1120, Schedule UTP (Uncertain Tax Positions Statement) with their tax returns. This form is used to report any uncertain tax positions taken by the corporation that might affect its tax liability.

_____ 18 in 2017, All Corporations with at Least $10 Million