Disclosure of Certain Taxes Implementing Certain FASB ASC 605 Requirements
Taxes are assessed by various governmental authorities on many types of transactions. The characteristics of how these different types of taxes are calculated, remitted to the appropriate governmental authority, and...
Published on July 07, 2010
Implementing FIN 48 Accounting for Uncertainty in Income Taxes
On July 13, 2006, the FASB issued FIN 48 [with a June 2006 date on the document], entitled Accounting for Uncertainty in Income Taxes. FIN 48 interprets the guidance in SFAS No. 109, entitled Accounting for Income Taxes
Published on July 26, 2006
Implementing FSP FAS 13-2 Income Taxes and Leveraged Leases
...13, 2006, the FASB Staff issued FSP FAS 13-2. The FSP guidance addresses how a change [or projected change] in the timing of cash flows related to income taxes generated by a leveraged lease transaction affects the accounting by a lessor for the leveraged lease
Published on April 13, 2015
ASU 2013-11 -- FASB ASC 740 Unrecognized Tax Benefits with Loss Carryforwards
FASB ASU 2013-11 applies to all entities that have unrecognized tax benefits when they have a net operating loss carryforward, a similar tax loss, or a tax credit carryforward as of a reporting date
Published on August 14, 2013
Policy Note Disclosure Reminder - Presentation of Certain Taxes
An often overlooked policy note disclosure in financial statements relates to how reporting entities present taxes collected from customers and remitted to governmental authorities are reflected in financial statements
Published on June 05, 2013
Compiling and Reviewing Personal Financial Statements
Very commonly, when practitioners are completing individual tax returns for clients, they also are engaged to prepare personal financial statements for the clients. While these statements can be audited, reviewed, or compiled, it is a very rare...
Published on April 14, 2010
ASU 2009-06 [FASB ASC 740] - Accounting for Uncertain Tax Positions by Private Entities and Not-for-Profit Organizations
FASB ASU 2009-06 amends ASC 740 for private entities, especially when those entities are pass-through entities [PTEs] and not-for-profit [NFP] organizations.
Published on September 16, 2009
FASB ASC 740 Disclosure Illustrations - Uncertain Tax Positions
Now that reporting entities that are private companies need to implement the full provisions of FASB ASC 740, questions have been raised as to how the guidance appropriately should be implemented in financial statements. In particular questions have arisen as to how the guidance needs to be reflected in financial
Published on February 17, 2010
Controversy Over the Applicability of the Disclosure Requirement of Open Tax Years Unintended Consequences and Lessons f...
This report covers the applicability of a seemingly benign, but ambiguous, disclosure requirement of FIN 48 to provide a description of tax years open to examination
Published on March 18, 2015
CPEA Report Results in Elimination of the Disclosure of Open Tax Years When No Unrecognized Tax Benefits Exist
This alert informs readers about the deletion of TPA 5250.15, which results in the elimination of the requirement to disclose open tax years when no uncertain tax positions exist
Published on March 24, 2015