In an effort to increase comparability and consistency in how companies report income tax positions on financial statements, the Financial Accounting Standards Board ('FASB') issued FASB Interpretation Number 48 ('FIN
FIN 48: Accounting for Uncertain Income Tax Positions
This article provides a brief overview of the two-step, benefit-recognition approach implemented by FIN 48, a summary of the disclosures required by FIN 48, and a discussion of issues associated with protecting FIN 48 compliance documentation from disclosure to taxing authorities.
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