On November 17, TEI submitted comments to the Internal Revenue Service on proposed changes to Schedule UTP. The comments identified various critical policy issues that must be evaluated in a thoughtful and deliberative manner and urged the IRS to put an indefinite hold on the proposed changes and engage in a meaningful collaboration with stakeholders to identify reasonable alternatives. TEI’s comments were developed by members of several TEI standing committees under the aegis of TEI’s Financial Reporting Committee, chaired by Chris Anderson. Patrick Evans, TEI chief tax counsel, assisted in the preparation of the Institute’s comments. To read the comment letter, click here.