Auditors and tax executives are reconsidering how best to protect their work analyzing a company’s tax positions following the Supreme Court’s recent refusal to hear a crucial lawsuit on that point.
“It’s fairly murky out there,” says Bill Smith, director of the national tax office for accounting firm CBIZ MHM. “To say to any company, ‘Here’s what to do to protect yourself,’ is difficult to say with any level of authority.”
Smith
Their confusion springs from the U.S. Supreme Court’s decision in late May not to hear an appeal in the controversial case of U.S. v. Textron—which essentially lets stand an earlier ...