The IRS is looking to save itself some work by having companies describe their uncertain tax positions upfront on their returns (as I mentioned here and here). The agency has released a draft showing what the proposed new statement might look like, together with nine pages of instructions for completing the form. Comments are invited through June 1. ###

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Well, OK, it’s actually a postcard, but it does spread some lovin’ to America’s small businesses and tax-exempt organizations — some 4 million of them, according to the IRS. The agency wants to make sure these organizations don’t overlook the new health care tax credit, which takes effect this year. more

PricewaterhouseCoopers recently released its 6th annual “Global State of the Internal Audit Profession” survey. I chatted with Brian Brown, PwC’s IA advisory services leader, to get a taste for the survey results and to have him describe “Internal Audit 2.0.”

Eric Krell: What do you see as some of the key qualities, capabilities, and/or characteristics of Internal Audit 2.0?

Brian Brown: We use an analogy with Internet 2.0 as the logical next generation for internal audit. Internal Audit 2.0 it is more aligned, collaborative, and technology-enabled. By that we mean more aligned with critical risks and stakeholder expectations, more collaborative with other risk and compliance functions, and better able to leverage technology to drive efficiency in the audit process. more

Last weekend’s implosion of Texas Stadium (which took place just down the road from Beyond Budgeting Round Table [BBRT] North America headquarters) made me think of something highly respected Dallas Cowboys coach Tom Landry once said about planning:

“Setting a goal is not the main thing. It is deciding how you will go about achieving it and staying with that plan.”

I wholeheartedly agree.

In practice, I find that many organizations commit two common planning errors when it comes to setting their target goals. more