Disclosure of Nonincome Tax Contingencies Under ASC 450 for Not-for-Profit Entities
This item focuses on the importance of properly accounting for and considering the impact of nonincome taxes as they apply to not-for-profit (NFP) entitles.
Published on April 01, 2011
Transparency and Compliance in Light of the New Schedule UTP
In April 2010, the IRS issued a draft of Schedule UTP, Uncertain Tax Position Statement, with Announcement 2010-30. This represents an important development in the longstanding and ongoing battle between taxpayers and the federal and state taxing authorities for access to tax accrual workpapers and other tax-related information.
Published on August 01, 2010
Tax Implications of Transactions Involving Contingent Consideration
This article examines the tax and financial reporting consequences of companies using contingent consideration in payments for property and in payments to employees as compensation for services.
Published on August 01, 2010
Retiree Tax Planning for Eligible Retirement Plans of Tax-Exempt Entities
Most types of tax-exempt entities may establish unfunded eligible deferred compensation plans under Sec. 457, sometimes called “top-hat” plans because they are designed for members of management and highly compensated individuals.
Published on January 01, 2012
Post-Implementation Review of FIN 48
The Financial Accounting Foundation issued its Post-Implementation Review (PIR) Report on FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes.
Published on May 01, 2012
AICPA News Update - Nov 2, 2012
In this issue: AICPA Makes Navigating Fiscal Cliff a Little Easier; AICPA Health Care Expert Panel Develops TPAs on Application of ASU No. 2010-24; AICPA Technical Hotline Develops TPA on Supplementary Information That Accompanies Interim Financial Information; Perspectives on the Changing Role of Finance; Time Sensitive Resources to Assist with Year-End Planning
Published on November 02, 2012
AICPA News Update Vol. 14 No. 14
Expanded 1099 repeal passes Senate
Published on April 08, 2011
Charitable Deduction for Partial Disclaimer Allowed
The Eighth Circuit held that a partial disclaimer of an interest in an estate was valid and that the estate was entitled to a charitable deduction for the portion of the disclaimed amount that was given to a charitable foundation.
Published on January 01, 2010
FIN 48 Compliance Disclosing Tax Positions in an Age of Uncertainty
FIN 48 presents new challenges for taxpayers, auditors, and tax advisers. The disclosures required by the interaction of FAS 109 and FIN 48 will result in greater public disclosure of tax planning techniques, including the strengths and weaknesses of those techniques.
Published on January 01, 2008
Reporting Uncertain Tax Positions to the IRS
On January 26, 2010, the IRS issued Announcement 2010-9, indicating that it intends to require certain corporate taxpayers to disclose information about their uncertain tax positions on their tax returns.
Published on May 01, 2010