TITLE

Uncertain State Tax Position Financial Statement Disclosures under FIN 48 and the New Internal Revenue Service Schedule UTP

AUTHOR(S)
Kern, Beth; Luttman, Suzanne
PUB. DATE
January 2011
SOURCE
Journal of State Taxation;Jan/Feb2011, Vol. 29 Issue 2, p53
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article focuses on the disclosure of uncertain state tax positions on financial statements and the requirement to report tax positions under the Financial Interpretation Number (FIN) 48. It says that FIN 48 was adopted by the Financial Accounting Standards Board (FASB) beginning after December 15, 2006. It also discuss the Schedule uncertain tax positions (UTPs) issued by the U.S. Internal Revenue Service (IRS) which requires companies to list their UTPs.
ACCESSION #
58663580

 

Related Articles

  • Voluntary disclosure, Round Two. JONES, GEORGE G.; LUSCOMBE, MARK A. // Accounting Today;Mar2011, Vol. 25 Issue 3, p16 

    The article considers the tax return voluntary disclosure initiative of the U.S. Internal Revenue Service (IRS) in 2011. One of the requirements to be accepted is lack of connection with a current foreign account investigation. Tax practitioners are advised to discuss the new foreign asset and...

  • Application of FIN 48 to Transfer Pricing and Permanent Establishment Issues. Donohue, Michael J.; Lowell, Cym H.; Martin, Mark R. // Tax Executive;Winter2007, Vol. 59 Issue 6, p485 

    The article discusses the application of Interpretation No. 48 (FIN 48) to transfer pricing and permanent establishment (PE) issues. In effect, this will require multinationals and their advisers to identify, examine and document uncertain tax positions in greater detail. Consequently, efforts...

  • ACCOUNTING INDUSTRY BRIEFS. Whitehouse, Tammy // Compliance Week;Mar2010, Vol. 7 Issue 74, p29 

    The article offers news briefs in the U.S. accounting industry. The Internal Revenue Service (IRS) plans to require corporate taxpayers to give descriptions of their uncertain tax positions and the maximum amount of tax exposure if those positions are not sustained. The Financial Accounting...

  • Internal Revenue Service Meets FIN 48. Cheney, Glenn // Financial Executive;Apr2010, Vol. 26 Issue 3, p14 

    The article discusses Announcement 2010-9 from the U.S. Internal Revenue Service (IRS), which will require firms to describe and report the maximum likely federal tax liability for each of their uncertain tax positions. The announcement imposes stricter conditions on such positions than as...

  • IRS Provides Updated Guidance Regarding Offshore Voluntary Disclosure Program. Rettig, Charles P. // Journal of Tax Practice & Procedure;Jun/Jul2012, Vol. 14 Issue 3, p13 

    The article details the IR-2012-64 and IR-2012-65 initiatives of the U.S. Internal Revenue Service (IRS) on offshore voluntary disclosure program. The programs encourage taxpayers to initiate resolution to their tax issues and those assets placed in offshore accounts. It elaborates on the...

  • Want to Come Clean About Taxes Overseas? Bhayani, Rita // India Currents;Apr2015, Vol. 29 Issue 1, p23 

    The article presents suggests on disclosing offshore accounts to the U.S. Internal Revenue Service (IRS) for tax calculations. Some of the forms provided by IRS include, Foreign Account or Asset Statement, Attachment to Offshore Voluntary Disclosure Letter, and Domestic Streamlined...

  • Consider not-for-profits' accounting, reporting, tax practices. Kreuze, Jerry; Langsam, Sheldon; Penner, James // On Balance;Nov/Dec2012, Vol. 8 Issue 6, p22 

    The article focuses on accounting procedures for Non Profit organizations. According to Generally Accepted Accounting Principles (GAAP) for such organizations Financial Accounting Standards Board has issued guidelines in Accounting Standards Codification (ASC) Section 958. These organizations...

  • IRS Article Offers Valuable Insights Into Charitable Trusts. Sharpe Jr., Robert R. // Trusts & Estates;Jul2012, Vol. 151 Issue 7, p16 

    The article discusses charitable trusts and the U.S. Internal Revenue Service's (IRS) release of information for trusts professionals on philanthropic planning, split-interest trusts, and pooled income funds as of July 2012. Charitable remainder annuity trusts and charitable lead trusts are also...

  • BV News At-a-Glance.  // Business Valuation Update;Nov2016, Vol. 22 Issue 11, p24 

    The article offers updates and developments on valuation professional organizations (VPOs) and the release of new books, research papers, and studies in the field. The government agency Internal Revenue Service seeks comments on the proposed regulations under the Internal Revenue Code (IRC)...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics