"Uncertain Tax Positions: IRS Issues FIN 48 Initiative"
Co-authored with
Thomas Proctor
Massachusetts CPA Review Online. (February 2007)
ABSTRACT
In October, 2006, the Large & Mid-Size Business division of the IRS issued an initiative to expedite the resolution of tax positions of some companies subject to the FASB’s new Financial Interpretation 48. FIN 48 requires companies that conform to generally accepted accounting principles (GAAP) to record as a liability any position taken on their tax return that might be challenged by the IRS and result in an additional tax due. The FIN 48 initiative allows companies who may not have had time to plan FIN 48 into their tax planning for the current year to resolve their tax issues with the IRS. The IRS initiative applies to a company with financial accounting years ending between December 15, 2006, and April 1, 2007.
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"Uncertain Tax Positions: IRS Issues FIN 48 Initiative"
Co-authored with
Thomas Proctor
Tennessee Society of CPA Journal. (December 2006)
ABSTRACT
In October, 2006, the Large & Mid-Size Business division of the IRS issued an initiative to expedite the resolution of tax positions of some companies subject to the FASB’s new Financial Interpretation 48. FIN 48 requires companies that conform to generally accepted accounting principles (GAAP) to record as a liability any position taken on their tax return that might be challenged by the IRS and result in an additional tax due. The FIN 48 initiative allows companies who may not have had time to plan FIN 48 into their tax planning for the current year to resolve their tax issues with the IRS. The IRS initiative applies to a company with financial accounting years ending between December 15, 2006, and April 1, 2007.
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