ONE SOURCE Uncertain Tax Positions

ONESOURCE Uncertain Tax Positions

Non-Cash and Equity in the UTP App*Version 4.0+

Last Updated: v2014.0

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Equity, Non-Cash and Income Statement

•When adding a new position, you have the option of marking it as Equity, Non-Cash or Income Statement

•Once a position is rolled over, you have the option to change the type of position

– Positions cannot be changed from NCS to EQ or EQ to NCS

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Equity and Non-Cash on Reports & Schedules

•Uncertain Journal Entry and Calculation Support

– Equity Positions• Tax & Other Tax amounts

display in EQ: Equity Offset Line

• Interest & Penalties amounts display in P/L: Provision for Current/Deferred Income Taxes

– Non-Cash Positions• All amounts display in B/S:

Non-Cash Offset Line

• No amounts display in P/L: Provision for Current/ Deferred Income Taxes

•Uncertain Expense– Equity Positions

• Only the Interest and Penalties amounts will display

– Non-Cash Positions• No amounts will display

•Item Inventory– Equity Positions

• Tax & Other Tax amounts display in Offset to Equity (Net) column

• Interest & Penalties amounts display in Interest & Penalties columns

– Non-Cash Positions• All amounts display in Offset to

Non-Cash (Net) column

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Equity and Non-Cash on Reports & Schedules

•Impact to Tax Provision– Equity Positions

• Current Tax amounts display in the Equity Column

• Interest & Penalties amounts display in Tax Expense Columns.

– Non-Cash Positions• Current Tax, Interest & Penalties amounts display in the Non-Cash

Column

– Income Statement Positions

• Current Tax, Interest & Penalties display in the Tax Expense Columns.

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Items to Note when Changing NCS/EQ Option

•Dataset Merge– NCS/EQ (prior) comes from the first dataset

– NCS/EQ (current) comes from the last dataset in which a position was active

– If a position is NCS in the first dataset and EQ in the last dataset (or vice versa):• During the Merge, the position will retain its prior designation

since the switch from NCS to EQ (and vice versa) is not permitted in the UTP App

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Example 1: EQ to Income Statement

•State Temporary Difference

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Example 1: Calculation Support Schedule with Sample Calculation: EQ to Income Statement

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Example 1: Uncertain Journal Entry Report with Sample Calculation: EQ to Income Statement

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Example 1: Uncertain Expense Report with Sample Calculation: EQ to Income Statement

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Example 2: Income Statement to EQ

•Federal Permanent Difference

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Example 2: Calculation Support Schedule with Sample Calculation: Income Statement to EQ

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Example 2: Uncertain Journal Entry Report with Sample Calculation: Income Statement to EQ

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Example 2: Uncertain Expense Report with Sample Calculation: Income Statement to EQ

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Example 3: NCS to Income Statement

•State Tax Adjustment

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Example 3: Calculation Support Schedule with Sample Calculation: NCS to Income Statement

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Example 3: Uncertain Journal Entry Report with Sample Calculation: NCS to Income Statement

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Example 3: Uncertain Expense Report with Sample Calculation: NCS to Income Statement

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Example 4: Income Statement to NCS

•State Temporary Difference

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Example 4: Calculation Support Schedule with Sample Calculation: Income Statement to NCS

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Example 4: Uncertain Journal Entry Report with Sample Calculation: Income Statement to NCS

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Example 4: Uncertain Expense Report with Sample Calculation: Income Statement to NCS