Much Uncertainty About Uncertain Tax Positions
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Much Uncertainty About Uncertain Tax Positions
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Author : Robert Probasco
language : en
Publisher:
Release Date : 2017
Much Uncertainty About Uncertain Tax Positions written by Robert Probasco and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
The Internal Revenue Service (IRS) announced in January 2010 a new initiative to require certain businesses to report “uncertain tax positions” on a new schedule filed with their annual tax returns. Draft schedules and instructions issued in April 2010 clarified some of the mechanical aspects of the new requirement but left many open issues and questions. The IRS proposal built on requirements by the Financial Accounting Standards Board (FASB) in FASB Interpretation No. 48, Accounting for Uncertainty in Income Taxes (“FIN 48”). The standard requires companies, in their financial statements, to reserve some of the benefits from any position taken on their tax returns unless it is more likely than not that the IRS would fully concede the issue prior to litigation if it arose during an audit.The article describes the proposals and then discusses concerns and open issues. The most significant concerns include that, as a practical matter, information asymmetry may result in overly aggressive positions taken by the IRS and the IRS may not have the administrative capacity to use the additional information properly. The proposal also raises concerns about privilege and waiver, particularly with respect to the work-product doctrine and tax accrual workpapers.
Accounting For Income Taxes
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Author : Amy Dunbar
language : en
Publisher:
Release Date : 2008
Accounting For Income Taxes written by Amy Dunbar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Income tax categories.
...Analyzes issues that arise due to FASB interpretation no. 48, Accounting for uncertainty in income tax positions--an interpretation of FASB statement no. 109, which addresses the accounting for uncertainty in income taxes recognized in a company's financial statements in accordance with FASB statement no. 109, Accounting for Income Taxes.
Accounting For Income Taxes
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Author : Amy Dunbar
language : en
Publisher:
Release Date : 2008
Accounting For Income Taxes written by Amy Dunbar and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Accounting categories.
... provides a comprehensive analysis of FASB interpretation no. 48, Accounting for uncertainty in income tax position--an interpretation of FASB statement no. 109, which addresses the accounting for uncertainty in income taxes recognized in a company's financial statements in accordance with FASB statement no. 109, Accounting for income taxes.
The Benefits Of Uncertainty
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Author : Trent Krupa
language : en
Publisher:
Release Date : 2023
The Benefits Of Uncertainty written by Trent Krupa and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
Economic theory suggests that tax-favored strategies attract investment, and this increased investment demand offsets tax benefits through lower pre-tax returns (i.e., implicit taxes). We propose that aggressive strategies that generate uncertain tax benefits have lower demand due to both the concern that the tax authority will overturn these uncertain strategies upon audit and because the firm does not receive the full benefit of the strategies on its financial statements. Consistent with this, we find that firms' investment in uncertain tax positions, holding cash effective tax rates constant, is associated with lower implicit taxes (i.e., higher pre-tax earnings and firm value). Subsequent analysis using exogenous variation in IRS enforcement supports the audit mechanism and helps mitigate concerns about reverse causality. Lower implicit taxes also arise, in part, from the earnings effects of uncertain tax positions, supporting the financial reporting mechanism. Our results illustrate a non-tax benefit of uncertain tax strategies.
How Do Disclosures Of Tax Uncertainty To Tax Authorities Affect Reporting Decisions
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Author : Erin Marie Towery
language : en
Publisher:
Release Date : 2013
How Do Disclosures Of Tax Uncertainty To Tax Authorities Affect Reporting Decisions written by Erin Marie Towery and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
This study exploits the recently-issued Uncertain Tax Position Statement (Schedule UTP) to examine the effect of mandatory disclosures of tax uncertainty to tax authorities on firms' reporting decisions. Schedule UTP requires firms to disclose federal income tax positions to the Internal Revenue Service that have been classified as 'uncertain' for financial reporting purposes. In showing how Schedule UTP disclosure requirements affect private and public reporting decisions, I provide insights into the usefulness of these disclosures. Using confidential tax return data and public financial statement data, I find that after imposition of Schedule UTP reporting requirements, firms report lower financial reporting reserves for uncertain income tax positions, but do not claim fewer income tax benefits on their federal tax returns. These findings suggest some firms changed their financial reporting for uncertain tax positions to avoid Schedule UTP reporting requirements without changing the underlying positions. The effect is concentrated among firms with greater business complexity, whose business operations facilitate tax planning strategies that are more difficult for the IRS to identify. More broadly, my results imply private disclosures of tax uncertainty can affect the informativeness of public disclosures of tax uncertainty.
Tax Accounting
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Author : A.J. Bakker
language : en
Publisher:
Release Date : 2020
Tax Accounting written by A.J. Bakker and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
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Author :
language : en
Publisher: Cengage Learning
Release Date :
written by and has been published by Cengage Learning this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Ifrs 3 Business Combinations
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Author : International Accounting Standards Board
language : en
Publisher:
Release Date : 2004
Ifrs 3 Business Combinations written by International Accounting Standards Board and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Accounts categories.
Wiley Cpa Exam Review Study Guide 2023
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Author :
language : en
Publisher: John Wiley & Sons
Release Date : 2023
Wiley Cpa Exam Review Study Guide 2023 written by and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with Accounting categories.
The Wiley CPA Study Guides four-volume set, fully updated for the 2022 CPA exam, reviews all four parts of the exam and provides the detailed information candidates need to master or reinforce tough topic areas. Content is organized into Bite-Sized Lessons that map perfectly to the Wiley CPA online course. The books are designed to supplement the online course but may also be used as a stand-alone study tool.
Wiley Cpaexcel Exam Review April 2017 Study Guide
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Author : Wiley
language : en
Publisher: John Wiley & Sons
Release Date : 2017-01-17
Wiley Cpaexcel Exam Review April 2017 Study Guide written by Wiley and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-17 with Study Aids categories.
The Wiley CPAexcel Study Guide: Financial Accounting and Reporting arms CPA test-takers with detailed text and skill-building problems to help identify, focus on, and master the specific topics that may need additional reinforcement to pass the FAR section of the CPA Exam. This essential study guide: Covers the complete AICPA content blueprint in FAR Explains every topic tested with 1,299 pages of study text, 752 multiple-choice questions, and 73 task-based simulations in FAR Organized in Bite-Sized Lesson format with 217 lessons in FAR Maps perfectly to the Wiley CPAexcel online course; may be used to complement the course or as a stand-alone study tool