Accounting for taxes

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.

LB&I Directive on Success-Based Fees Has Tax Accounting Implications

A recent directive instructs LB&I examiners not to challenge the treatment of success-based fees incurred or paid in tax years ending before April 8, 2011, if the taxpayer capitalized at least 30% of the total success-based fees incurred on the transaction on its originally filed return.

Reporting Uncertain Tax Positions

This item explores the differences between financial statement reporting and federal income tax return disclosure in preparing for disclosure of uncertain tax positions on the Schedule UTP,

FIN 48 and Tax Return Disclosure

This item provides a brief overview of the FIN 48 requirements, an update on the IRS plans, and some observations on the dynamics created among an engagement’s auditors, tax preparers, and client personnel resulting from these new rules.

Private Companies and FIN 48

On October 15, 2008, the Financial Accounting Standards Board (FASB) deferred the effective date of FIN 48 (FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes ) for all nonpublic companies for one year.

Newsletter Articles

SPONSORED REPORT

Tax reform changes are now in effect

With all the recent tax law changes, this year it’s more important than ever to make sure your clients’ tax situations are squared away before year end. This report provides necessary guidance to ensure 2019 starts without a hitch.

DEDUCTIONS

Understanding the new Sec. 199A business income deduction

The new deduction allows certain business owners to keep pace with the significant corporate tax cut provided by the Tax Cuts and Jobs Act.