Worker Education Program Inc

PART X, LINE 2:

“Worker education program(wep)is exempt from income taxes as provided under section 501(c)(3) of the internal revenue code, and from excise taxes as an organization that is not a private foundation as defined in section 509(a)(2) thereof. Therefore, no provision or liability for income taxes has been included in the financial statements. Generally accepted accounting principles in the united states of america prescribe the threshold a tax position is required to meet before being recognized in the financial statements. A liability for uncertain tax positions is recognized and recorded as a component of current income tax expense for differences between financial and income tax reporting positions which do not meet this threshold. Any interest and penalties related to uncertain tax positions are recorded as a component of income tax expense. Wep has reviewed their income tax positions and have not identified any material uncertain tax positions and thus has not recorded any liability at december 31, 2013 or 2012. Wep's federal and state tax returns are subject to possible examination by taxing authorities until the expiration of the related returns statutes. In general, the federal and state tax returns have a three-year statute of limitations from the date the tax returns were due or filed, whichever is later. Wep is no longer subject to examinations by tax authorities for years prior to 2010, and has no open examinations as of the date of the financial statements.”