FIN 48 – Accounting for Uncertain Income Tax Positions

Practice Area: WG&L FRM Brand: Checkpoint

FIN 48 – Accounting for Uncertain Income Tax Positions
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Accounting for uncertain income tax positions has become a critically important issue for financial accounting and income taxation purposes in recent years. FIN 48 – Accounting for Uncertain Income Tax Positions articulates the rigorous requirements of FIN 48 and provides information and numerous tools for practitioners’ use.

Details

This 2009 Edition offers brand-new features:

State-by-state charts—income tax rates on corporations, apportionments, statutes of limitation for refunds, statutes of limitation on assessment, rates of interest paid on underpayments, and penalties imposed on underpayments of estimated tax;
Frequently Asked Questions about FIN 48—information in a question-and-answer format provides a new route for approaching many of the central issues presented by FIN 48. Each Question & Answer carries a reference to a paragraph in the publication where more information is available; and
Sample SEC Comment Letters and company responses, redacted to focus on FIN 48 issues.

Also includes updated and enhanced coverage of:

Recognition and measurement of uncertain tax positions.
Changes in subsequent periods.
Effect of FIN 48 on preparing financial statements.
Recognizing interest and penalties under FIN 48.
Classification and disclosure of uncertain tax positions.
IRS standards for taking uncertain tax positions.

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