FIN 48 Compliance: Are You Ready?

New Accounting Methods For Uncertain Income Tax Positions

Recording of a 100-minute CPE webinar with Q&A


Conducted on Tuesday, February 27, 2007

Program Materials

Description

Assigning a dollar figure to the uncertain tax positions your company takes on federal and state income tax returns — and setting reserves accordingly — is challenging.

FASB’s Interpretation 48 is intended to help clarify ambiguities that lingered since its 2005 Statement 109. Although it does provides a clearer mandate than the previous “probable” standard, it involves an entirely new evaluation practice from corporate taxpayers—and its own complex provisions.

Is your company ready for the 2007 first annual and quarterly financial statements meeting the Interpretation 48 process?

Register today for this teleconference to get armed with the knowledge you need to produce acceptable federal and local income tax returns and financial statements in the new era.

Listen as our panel of experienced tax advisors and veteran FASB-watchers help you unscramble the latest guidance.

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Benefits

The panel will provide its best guidance on these and other key questions:

  • Will the new “likelier than not” threshold increase or decrease your company’s taxes?
  • Which existing memos and opinions supporting previously taken tax opinions will need updating — and what else will need to be revised?
  • Where can you get support if an auditor decides your newly evaluated tax position was insufficiently documented?
  • How can you deal with head-scratchers, like measuring deferred tax assets and liabilities, and accounting for interest and penalties?
  • How do you produce FASB’s detailed table mandate – disclosing the
    beginning and ending balances of unrecognized tax benefits?

Faculty

Richard Paul
Richard Paul
Practice Fellow
Financial Accounting Standards Board

He is a member of the implementation team for FIN 48 and a project manager for FASB’s income tax convergence...  |  Read More

Barbara Flom
Barbara Flom
Jenner & Block

She is the firm’s senior tax partner and has extensive experience advising clients on a wide variety of...  |  Read More

Neil Kimmelfield
Neil Kimmelfield
Shareholder
Lane Powell

He has more than 25 years of experience as a tax attorney, litigating tax cases and handling administrative...  |  Read More

Walter Pickhardt
Walter Pickhardt
Partner
Faegre & Benson

He is the head of the firm’s tax group and represents clients in connection with tax examinations and...  |  Read More